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This episode features tax expert Janell Borrero, who shares her journey from state auditor to successful tax accountant.
Janell explains essential tips for entrepreneurs, including the importance of separating personal and business finances, using accounting tools like QuickBooks, and tracking income and expenses for better financial planning. She also discusses the critical role of cash flow, common pitfalls business owners face, and the “Profit First” approach to prioritizing profit before expenses.
Listeners will benefit from Janell’s practical advice on intentional financial planning, managing taxes, and balancing work with self-care. Janell and Bunmi emphasize understanding business numbers to achieve financial goals and foster growth. Tune in for an insightful conversation packed with expert strategies to help you manage your finances and create your own economy.
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Key Moments:
03:44 Offering tax planning and budgeting services.
08:20 Top obstacle: cash flow, taxes, expenses.
10:28 “Profit First” focuses on minority business enterprises.
16:28 Identify anomalies, patterns, and potential fraudulent activity.
18:35 Small businesses must track income, expenses monthly.
20:39 Separate personal and business expenses strictly.
26:39 Taking breaks helps to re-energize and refocus.
30:42 Understanding your numbers is crucial for success.
About the Guest :
Janell Borrero, MBA, MAFM, EA, is an entrepreneur and instructor through her business, JBP Accounting Inc., and now Author. Growing up in Chicago, Illinois, she learned to be tough, enabling her to break many Latina statistics. However, finding purpose and success required her to embrace failure and commit to personal development. Her drive led her to write her debut book, Loving a BiPolar Bear.
Janell enjoys being outdoors and surrounding herself with nature. She travels to different cities to search for street art murals as a street art enthusiast. She aims to create long-lasting memories with the people she cares about most.
How to connect Janell:
Instagram – Bossladynel
Instagram – Yourshefo
Tiktok – Bossladynell
Podcast Website – https://www.shewhothrivespodcast.com/