5 Building Blocks of Operating a Corporation: Part 4

Posted by JasonBlumer on Feb 23, 2021 in 5 Building Blocks of Operating a Corporation

5 Building Blocks, Video 4 from Blumer CPAs on Vimeo.Transcript:Hey, hey, Jason Blumer here with Blumer CPAs. We're in a series, I hope you've been watching, on the 5 Building Blocks of Operating a Corporation.It's important when you go from an LLC or a sole proprietorship and you structure up into a corporation that you do that right. We're going over a deck that we actually use with our clients to help teach them, and I wanted to make a series to teach you, too. We talked about this at a high level last time, these five building blocks. We're going to go into more detail here now.There's a couple ways to become a corporation; and that's our goal, to become an S corporation. For short, we call it S corp; and that S just stands for the subchapter S code in the IRS tax code that allows us…

5 Building Blocks of Operating a Corporation: Part 3

Posted by JasonBlumer on Feb 16, 2021 in 5 Building Blocks of Operating a Corporation

5 Building Blocks, Video 3 from Blumer CPAs on Vimeo.Transcript:Hey, hey. Jason Blumer here with Blumer CPAs, and we're in a series of the 5 Building Blocks of Operating a Corporation. We're using a deck our team uses to teach our clients the value of structuring their business around a corporation. And so, we've been talking about things already up to this point. But those five building blocks are something I want to hit now, and these are five things we really want to talk about with our clients as they're growing and they need more structure. Typically as they're electing an S-corp status as they're moving out of what a solopreneur, a sole proprietorship for tax purposes, or they're just what's called a single-member LLC, and they're ready to move into an S-corporation. We don't want them to do that blindly. We want our clients to understand some things, and…

5 Building Blocks of Operating a Corporation: Part 2

Posted by JasonBlumer on Feb 9, 2021 in 5 Building Blocks of Operating a Corporation

5 Building Blocks, Video 2 from Blumer CPAs on Vimeo.Transcript:Hey, hey, Jason Blumer here with Blumer CPAs. And if you saw our previous video, we're starting a series on the Five Building Blocks of Operating a Corporation. This is actually a slide deck we use to teach clients, and our team uses it to teach clients how to form and bring structure into their creative company. And so we've talked about this title last time. So what I want to hit are these five different areas here. What Got You Here Won't Get You There is the title of the slide. Here's five different ways to look at phases or growth as you go through, needing to bring more structure. So you see the end column of this is a structured company. So let's talk about how we got there real quick.So a lot of creative agencies start as…

5 Building Blocks of Operating a Corporation: Part 1

Posted by JasonBlumer on Feb 2, 2021 in 5 Building Blocks of Operating a Corporation

5 Building Blocks, Video 1 from Blumer CPAs on Vimeo.Transcript:Hey, Hey, Jason Blumer here with Blumer CPAs, and we're starting a new series on our blog about what you see on the screen, which is Five Building Blocks of Operating a Corporation. And this is something we do a lot with creative agencies, any kind of creative company where they're growing. And as companies grow, they need more structure, and so specifically, a lot of the ways we use this deck is actually to teach our clients how a lot of changes we're going to make in their corporate structure actually create a lot of tax savings for them. So that's how we use this debt, but I wanted to make a blog series to show you some of the things we do. And before we dive into a lot of other things in this slide deck, there's a number…

​Top 10 Things You Need to Know About Your Stimulus Check

Posted by admin on Jan 5, 2021 in Mariela Reiss, CPA

Ever since Congress passed the first round of stimulus checks in March of 2020 to help stimulate the economy and get people through the first days of Covid-19 lockdowns, the country has been waiting eagerly for a second round. On December 27, 2020, we got it. The Consolidated Appropriations Act of 2021 was signed into law.Contained within that bill was the COVID-Related Tax Relief Act of 2020, which offered additional 2020 Economic Impact Payments (aka Recovery Rebate Credits or stimulus checks). And the IRS started rolling out these payments on December 29.So what do you need to know about the new stimulus checks that are coming your way? Your stimulus check should be coming to your mailbox or bank account very soon…if it isn’t there already. The IRS started making direct deposit payments as early as December 29, 2020. And they began mailing paper checks on December 30. This second round will be paid in th…

Consultants Disarm Unwilling Entrepreneurs

Posted by JasonBlumer on Dec 15, 2020 in consulting relationship

Consultants Disarm Unwilling Entrepreneurs from Blumer CPAs on Vimeo.Transcript:You know that consultants can disarm the power of an unwilling client or owner in the related consulting relationship. So let me say again, what that means. A consultant can approach a client and disarm them if they're trying to fight back and not let change happen in their lives. So basically what happens in a consulting relationship. And again, my partner and I do a lot of consulting. So in a consulting relationship, you enter into this... It's a different relationship. It's very deep, you go slow and methodical into entering into that engagement. You got to make sure both parties are ready. And when you do, the consultant, if they're trusted and we always enter into relationships with our clients in very trusted places. Because our heart and desire is to see our clients grow and change. So…

What's in a Name?

Posted by JasonBlumer on Dec 8, 2020 in value pricing

What's in a Name from Blumer CPAs on Vimeo.Transcript:What's in a name? And I'm talking about a person's name. So I know this young guy, he's in his early 20s and when I met him, I asked him, "What's your name?" And he told me, "Well, people call him different things, like three or four different names." And I'm like, "Well, what do you want me to call you?" And he was never definitive about what I'm supposed to call him. And it was interesting. It's hard to relate and interact with him because I don't know his name because he doesn't care. It seems he doesn't care about what you call him. And people have called him many different things, many variations of his actual name.And it just got me thinking that a name is a signaling thing, right? A name, all it does is it…

Extending Strategy Time

Posted by JasonBlumer on Dec 1, 2020 in Strategy growth Leadership

Extending Strategy Time from Blumer CPAs on Vimeo.Transcript:If you've watched many of my videos, you know my partner and I block off all of our work for a year in advance. We block our calendar off a year in advance and we've been doing that for years and growing in that competency about how to manage and take hold of our time. Where you do that is in the future; you go into the future and you own that future by telling the calendar what it's going to be before you get to it. That's called "strategic planning." To do that kind of work, you need to wedge into your life time for strategic planning, so we even say, "Put a block on your calendar at least two hours every week called 'strategy and planning,' and the bigger your firm gets, it needs to grow."Well, we…

Our New Agency Community

Posted by JasonBlumer on Nov 24, 2020 in

Our New Agency Community from Blumer CPAs on Vimeo.Transcript:Jason Blumer here with Blumer CPAs. During the pandemic, we've noticed something, that there's been a lot of communities being started, that is gatherings of people that want to come together with a common purpose. And you know what? We're starting one too. For creative agency owners, we are having a private community where they're going to come together and be able to learn and grow together. But ours is different. So we've been running communities. We actually have another company where my partner has been and I have been running a community for over a decade. So we have done a lot of work in community building. One thing that really makes communities successful is when they come in with a common sense of learning.So there's a particular type of education that we will bring agency owners into…

How To Do Strategic Planning: Part 4 of 4

Posted by JasonBlumer on Nov 24, 2020 in Strategic Planning Series

How to Do Strategic Planning, Part 4 of 4 from Thriveal CPA Network on Vimeo.Transcript:Okay, we've done all the heavy lifting in the first three videos in Strategic Planning Season. And as we've been mentioning, November, December is strategic planning season, this is the season. The holiday season? No. This is the season where entrepreneurs plan their future. And go back to video one, to find out what planning and what strategic means. Why did we put those words, strategic planning together, they're real important.So, what have we been doing up to this point? We've really been just dumping all the things out, prioritizing, listing core initiatives. Really just getting more and more granular as to what we're going to accomplish next year. Now boots on the ground happens in phase four. This is when now we take our core initiatives, go see what that means in video three,…