Get my Monthly Newsletter here Erica encourages solo consultants to find ways to pause, whether it's taking a week off, a quiet morning, or even a month-long break. She highlights some of the most downloaded episodes for listeners to revisit during the hiatus and wishes everyone a restful and enlightening summer. 00:00 Introduction to the Podcast 00:44 Summer Break Announcement 01:11 The Importance of Pausing 02:30 Personal Reflections on Rest 03:56 Encouragement for Listeners 04:44 Recommended ...
May 27, 2025•6 min•Season 1Ep. 99
Work With Erica Erica explains the potential savings on self-employment taxes and the trade-offs with the Qualified Business Income Deduction (QBID). Erica advises listeners to hold off on making the S-Corp election until there's more clarity on tax laws, which are expected to change with the expiration of the Tax Cuts and Jobs Act in 2025. 00:00 Intro 00:45 The Importance of Timing for S Corp Election 01:49 Understanding S Corp and QBID 02:50 The Impact of the Tax Cuts and Jobs Act 04:11 Why Wa...
May 13, 2025•8 min•Season 1Ep. 98
Erica explains the journey of an avocado from a farm in Michoacan, Mexico to a grocery store in the U.S., breaking down the costs involved and how a 25% tariff impacts the final price to consumers. She also talks through broader economic issues affecting solo consultants and small businesses. 00:00 Introduction to the Podcast 00:43 Understanding Tariffs with Avocados 03:26 Breaking Down Tariff Math 07:01 The Impact of Trade Agreements 08:57 Current Economic Trends for Consultants 10:53 Final Tho...
Apr 29, 2025•12 min•Season 1Ep. 97
Work With Erica A little tax trivia on this April 15th… 00:43 Tax Day Anecdote 01:23 Weird and Wacky Tax Facts 03:55 Fun Facts About Money 04:40 IRS Whistleblower Program ____________________ Resources Referenced: IRS Whistleblower Office | https://www.irs.gov/compliance/whistleblower-office ____________________ Connect with Erica | LinkedIn | Website | Newsletter...
Apr 15, 2025•7 min•Season 1Ep. 96
Work With Erica Erica suggests four actionable tasks: checking your credit report, reviewing your social security statement, calculating your net worth, and verifying your tax withholdings. Each task is designed to take about 10-20 minutes and provides insights into your financial health. 00:43 Tax Season Reminders and Energy Credits 02:20 April Financial Checkup: Four Key Tasks 02:39 #1: Check Your Credit Report 04:12 #2: Review Your Social Security Statement 07:29 #3: Calculate Your Net Worth ...
Apr 01, 2025•13 min•Season 1Ep. 95
Work With Erica Erica and her husband Ben Goode, CPA discuss the benefits of travel credit cards over cash back cards, emphasizing the savings on taxes and the accumulation of travel miles for personal use. The conversation includes a case study of their upcoming family vacation to Mexico, breaking down the points earned from Delta and Marriott credit cards, resulting in significant cost savings on flights and hotel stays. 05:11 Business Credit Cards: Travel Rewards vs. Cashback 06:52 IRS Guidel...
Mar 18, 2025•33 min•Season 1Ep. 94
In this episode Erica addresses a common question from clients: what is the best credit card for business use? She explains why travel reward credit cards are generally a better choice than cashback credit cards for solo consultants. Erica emphasizes that travel points and frequent flyer miles are not taxed by the IRS and don't reduce business deductions, unlike cashback rewards. 00:00 Introduction to the Consultants and Money Podcast 00:50 Choosing the Best Credit Card for Your Business 01:43 W...
Mar 04, 2025•10 min•Season 1Ep. 93
Erica sits down with Luke Sauter, a CPA, PFS, and investment advisor who shares insights on the intricacies of financial planning, emphasizing the importance of choosing a trustworthy fiduciary who provides consistent, transparent, and comprehensive wealth management services. 00:43 Meet Luke Sauter: CPA and Financial Specialist 02:34 A Personal Journey: From Corporate to Consulting 04:54 Understanding Financial Designations and Trust 09:37 The Role of a Fiduciary and Financial Planning 16:03 Bu...
Feb 18, 2025•58 min•Season 1Ep. 92
Contact Form This episode covers a tax season checklist for consultants and consulting firm owners. (00:43) A Funny Story About Margaritas (02:29) The Importance of Accurate Tax Inputs (03:00) Steps to Prepare for Tax Season (03:13) Reconcile Everything (05:31) Owner Distributions and Your P&L (06:42) Retirement Contributions (07:27) Organizing Receipts (08:58) Filing 1099s (09:37) Mileage Log for Business Deductions (10:28) The Importance of Early Tax Preparation (11:11) Conclusion and Fina...
Feb 04, 2025•13 min•Season 1Ep. 91
Get my Monthly Newsletter here In this episode, Erica is joined by Steve Nay, a tax professional and enrolled agent, to discuss the various credentials in the tax profession including CPAs, EAs, and the Annual Filing Season Program (AFSP). The also discuss how much a tax return should cost, as well as the potential ramifications of converting to an S-corp. (00:00) Introduction to the Podcast (00:43) Meet the Guest: Steve Ney (02:01) Understanding Tax Accreditations (03:57) Differences Between CP...
Jan 21, 2025•37 min•Season 1Ep. 90
Get my Monthly Newsletter here In this episode, Erica discusses the importance of turning off the noise that misaligns with your business goals. She emphasizes the value of starting the new year with clear intentions and filtering out content that doesn't support your unique vision. (00:00) Introduction to the Podcast (00:44) New Year Reflections and Intentions (01:08) The Impact of Noise on Your Business (03:43) Practical Steps to Turn Down the Noise (06:02) Conclusion and Final Thoughts (06:14...
Jan 07, 2025•7 min•Season 1Ep. 89
Get my Monthly Newsletter here In this episode, Erica shares her top three business book recommendations from 2024 and three bonus reads unrelated to business that left an impact on her. 00:00 Introduction to Consultants and Money Podcast 00:48 Personal Journey with Reading 02:16 Top Business Books of 2024 05:15 Bonus: Non-Business Books That Made an Impact 07:58 Closing Remarks and Holiday Wishes ____________________ Your 2025 "To Be Read" List: The Simple Path to Wealth by JL Collins | https:/...
Dec 10, 2024•9 min•Season 1Ep. 88
Get my Monthly Newsletter here In this episode of the Consultants and Money podcast, host Erica Goode CPA is joined by Nicole McClintock, founder and CEO of Taximize. They discuss the complexities of state and local taxes (SALT), especially for consultants operating across multiple states. Nicole emphasizes the importance of understanding where your business has employees and clients, how state-specific rules can impact your tax obligations, and why it's crucial to have thorough conversations wi...
Nov 26, 2024•36 min•Season 1Ep. 87
Get my Monthly Newsletter here This episode, Erica covers 4 key retirement plans: Roth IRAs, Traditional IRAs, SEP IRAs, and Solo 401ks. Erica explains the eligibility criteria, 2024 contribution limits, and special considerations based on business structure (sole proprietor, LLC, or S Corp). She highlights the benefits and potential drawbacks of each plan, offering insights to help solo consultants make informed retirement savings decisions. (00:54) Retirement Planning for Self-Employed Consult...
Nov 12, 2024•12 min•Season 1Ep. 86
Get my Monthly Newsletter here This episode features health insurance broker Jessica Skoney. They delve into a broad range of topics essential for self-employed consultants navigating health insurance. They discuss private versus marketplace plans, utilizing healthcare.gov and state exchanges, and the complexities of health insurance applications. Key highlights include understanding brokers vs. agents, accurately reporting income for tax credits, how to verify correct income figures, budgeting ...
Oct 29, 2024•48 min•Season 1Ep. 85
Get my Monthly Newsletter here In this episode of the Consultants and Money Podcast, host Erica Goode is joined by Paulina Proper, co-founder of District Trademark. They explore the world of trademarks, intellectual property, and strategic branding for solo consultants. Learn how to protect your brand, navigate the trademark process, and ensure your business's legal foundations are solid. Whether you're concerned about copyrights, patents, or trade secrets, this discussion provides valuable insi...
Oct 15, 2024•39 min•Season 1Ep. 84
Get my Monthly Newsletter here In this episode of the Consultants and Money podcast, host Erica Goode is joined by Joel Claremont. Joel shares his experience with Laravel, his educational business, and his revelations about financial independence and early retirement. (00:53) Meet Joel Claremont: Laravel Expert and Podcast Co-Host (01:37) Understanding Laravel and Its Applications (04:58) Joel's Journey to Financial Independence (07:46) The 4% Rule and Retirement Planning (16:59) Balancing Work ...
Oct 01, 2024•39 min•Season 1Ep. 83
Get my Monthly Newsletter here This episode talks about the importance of maintaining cash reserves for solo consultants. Erica discusses the reasons for having a cash reserve, such as covering unexpected expenses or taking advantage of sudden opportunities. (00:00) Introduction to the Podcast (00:51) Today's Topic: Cash Reserves (01:05) Why Keep Cash Reserves? (01:24) Examples of Cash Reserve Needs (03:45) How Much to Keep in Reserve (05:10) Where to Keep Your Cash Reserves ___________________ ...
Sep 17, 2024•8 min•Season 1Ep. 82
Get my Monthly Newsletter here Erica Goode interviews Will Rainey, author of 'Grandpa's Fortune Fables,' a book designed to teach children about financial literacy through engaging stories. Will shares his backstory, including his career in financial consulting, his move to Asia, and the pivotal moment that inspired him to leave the corporate world to spend more time with his family. He discusses how he began teaching his children about money by weaving financial lessons into bedtime stories, wh...
Sep 03, 2024•35 min•Season 1Ep. 81
In the summer series finale Erica and Ben delve into a financial case study of whether it's more cost-effective to buy or rent a vacation home. (00:00) Podcast Rebranding Announcement (03:33) Should You Buy a Vacation Home? (05:16) Financial Model for Vacation Home Decision (06:48) Survey Insights and Personal Experiences (09:49) Assumptions and Details of the Financial Model (17:14) Understanding Home Value Growth Rate (18:56) Rental Assumptions and Long-Term Benefits (21:31) Investment Growth ...
Aug 20, 2024•36 min•Season 1Ep. 80
New Ebook Announcement! The 15-Hr Accountant: Anatomy of a $200K, 1-Employee, 15 hr/wk Accounting Firm Connect with Erica > LinkedIn
Aug 14, 2024•2 min•Season 1Ep. 79
Erica and Ben delve into different investment options, from hiring financial advisors and using robo-advisors to managing DIY investments with individual stocks, mutual funds, index funds, bonds, and money market accounts. 01:01 Discussing Summer Reads 08:27 Financial Advisors and Fees 11:17 Exploring Robo-Advisors 15:12 DIY Investing and 401k Management 24:54 Understanding Bond Funds 25:28 Investing in Index Funds 27:13 Mutual Funds vs. Index Funds 29:09 Target Date Funds Explained 31:15 Introd...
Aug 06, 2024•45 min•Season 1Ep. 78
LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. In today’s episode, Erica and Ben dive deep into understanding marginal and effective tax rates, how they impact your income, and why they're important. The episode also provides tips on managing tax withholdings and recommendations for helpful financial resources. 04:57 Listener Mail: Early Retirement Resources 06:57 Exploring Budgeting Apps:...
Jul 23, 2024•29 min•Season 1Ep. 77
LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. In this episode, Erica and Ben answer a slew of listener questions from the mailbag 02:56 Budget Tracking 07:17 When to Consult a Financial Planner 13:40 Managing Multiple Bank Accounts 18:20 Maximizing Investments for Conservative Savers 20:43 Money Market Accounts 22:47 Balancing Conservative and Aggressive Investments 24:32 Risk Tolerance 2...
Jul 09, 2024•36 min•Season 1Ep. 76
LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. **** In this episode of the 'Coaches, Consultants, and Money' podcast, hosts Erica and Ben Goode delve into key personal financial decisions surrounding early retirement. They cover the practicalities of planning for early retirement, including tax-efficient savings strategies, the implications of withdrawing from retirement accounts at differ...
Jun 25, 2024•40 min•Season 1Ep. 75
LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. **** This episode from the personal finance summer series of 'Coaches, Consultants, and Money' hosted by Erica Goode and co-hosted by husband, Ben Goode, CPA, discusses the debate around whether or not it's beneficial to pay off a mortgage early. Sharing personal experiences and professional insights, they explore the pros and cons of early mo...
Jun 11, 2024•31 min•Season 1Ep. 74
Get my Monthly Newsletter here Today Erica shares a crossover episode from the "Soloist Life Podcast" where she was interviewed by host Rochelle Mounton. In this conversation, Erica discusses the strategies that have enabled her to build a thriving six-figure business while working significantly fewer than 40 hours a week, from setting robust boundaries to leveraging automation. They also talk about the life benefits of setting work boundaries, how to boost your business efficiency using automat...
May 28, 2024•42 min•Season 1Ep. 73
Listen in to hear what the plans are for this summer season on the Coaches, Consultants, and Money podcast!
May 21, 2024•3 min
Get my Monthly Newsletter here As tax codes grow increasingly complex, Erica suggests a more comprehensive approach for business owners to assess their true financial health. She explains a metric she created called Total Owner Benefit and describes how it can be used to discover the full range of financial benefits derived from owning a business. These include factors traditionally excluded from profit calculations such as owner salary, health costs, and retirement contributions. Discover why T...
May 14, 2024•13 min•Season 1Ep. 72
Get my Monthly Newsletter here Author and CEO of the Nonfiction Authors Association, Stephanie Chandler, joins Erica in this educational and engaging discussion about how business owners can use a book to build their business. Some of the questions Stephanie answers are: What’s the benefit of writing a non-fiction book? How do I know what to write about? What costs do I need to budget for when planning a book for my business? What is the process of writing a book - how do I get started? What’s t...
Apr 30, 2024•37 min•Season 1Ep. 71
