Visionating

I’m presenting “Business Behind the Music” today at SOUTHWEST FOLK ALLIANCE conference today! Meet up at lunch and say howdy!

Revised standard mileage rates, effective July 1, are: 𝟳𝟲 𝗰𝗲𝗻𝘁𝘀 𝗽𝗲𝗿 𝗺𝗶𝗹𝗲 for business, an increase from 72.5 cents. This is another reason you need to keep a written log that includes dates.

IRS raises standard mileage rates for remainder of 2026 The midyear change follows an increase in gasoline prices, according to the IRS. It is the first such midyear adjustment since 2022.

𝗪𝗵𝗲𝗻 𝗦𝗵𝗼𝘂𝗹𝗱 𝗬𝗼𝘂 𝗧𝗶𝘁𝗵𝗲: 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘃𝘀 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹?

As a sole proprietor, deciding whether to tithe through your business or personally depends on your goals and priorities. Here’s a quick breakdown:

𝗧𝗶𝘁𝗵𝗶𝗻𝗴 𝗧𝗵𝗿𝗼𝘂𝗴𝗵 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀
𝗩𝗮𝗹𝘂𝗲𝘀 & 𝗩𝗶𝘀𝗶𝗼𝗻: If generosity is central to your brand, business tithing can showcase your commitment to faith and community. Think of it as aligning your giving with your mission, similar to how TOMS Shoes integrates giving into its operations.
𝗧𝗮𝘅 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀: In a sole proprietorship, the tax deduction passes through to you personally (to be deducted only if you file Schedule A) and does not reduce your business's taxable income.
𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗜𝗺𝗽𝗮𝗰𝘁: Publicizing your business’s charitable efforts can strengthen your reputation, attract like-minded clients, and build customer loyalty.

𝗧𝗶𝘁𝗵𝗶𝗻𝗴 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗹𝘆
𝗩𝗮𝗹𝘂𝗲𝘀 & 𝗣𝗿𝗶𝘃𝗮𝗰𝘆: Personal tithing keeps your giving private and distinct from business operations, offering flexibility to give to causes close to your heart.
𝗧𝗮𝘅𝗲𝘀: Donations made personally are deductible on Schedule A (if you itemize), but they won’t reduce your business’s taxable income.
𝗦𝗶𝗺𝗽𝗹𝗶𝗰𝗶𝘁𝘆: 𝘛𝘢𝘬𝘪𝘯𝘨 𝘢𝘯 𝘰𝘸𝘯𝘦𝘳’𝘴 𝘥𝘳𝘢𝘸 𝘵𝘰 𝘵𝘪𝘵𝘩𝘦 𝘱𝘦𝘳𝘴𝘰𝘯𝘢𝘭𝘭𝘺 𝘬𝘦𝘦𝘱𝘴 𝘺𝘰𝘶𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘧𝘪𝘯𝘢𝘯𝘤𝘦𝘴 𝘤𝘭𝘦𝘢𝘯 𝘢𝘯𝘥 𝘧𝘰𝘤𝘶𝘴𝘦𝘥.

Which approach aligns best with your faith, finances, and future?

Just a reminder we have a RAMP demo today 12-1PM CT on Lunch with Lisa. Join for free and get $500 for your organization 🙂

Ramp helps with:
Vendor management (W-9s and 1099s)
Segregation of duties - one person approves, another pays
Fraud determent - limit use of debit cards by spend, date, etc.
Policy enforcement - over $500 requires multiple approval

Join today 12-1PM CT

https://us02web.zoom.us/j/89255888741?pwd=YVVQbkJnVDhLRmZsZDdqWjZzTFVSUT09

I want to talk about #5 in this blog: Personality Differences.

My husband, Milan, & I have a great ying-yang in many aspects. He's an introvert & I'm an extrovert; he's a night owl & I'm a morning person; he's more of a spender and I tend to be a saver.

These differences have made us better partners in both marriage and business. But without AGREED UPON PRIORITIES, they could result in more stress than success. A top value of MinjaSound is Education. So when a great web series came up, both of us knew the outcome would be to spend the cash rather than save it. There was a discussion about timing, but knowing the vision, mission, and values allowed us to prioritize the spend.

What is your story about money and a partnership?

Money and Marriage: What to Consider Before Saying 'I Do' Discover 10 crucial money tips for a blissful marriage! Ensure your financial readiness and happiness. Expert advice for a harmonious life together

https://www.accountable.network/blog/5simplewaystoprepareyourwalletforthosebigdaycareexpenses?fbclid=IwAR1y3f258MhZwc8pM41LW942k2JmY4Usjz3HcP1zJsKMLVMs8wVS0o1QoUE_aem_AReQAjeCcov--F-oHa2ZhuTo-gr7cAdYm3bPOmy_WS-L4HxFHeiYemMQCZb0TCsx_0o

5 Simple Ways to Prepare Your Wallet for Those Big Daycare Expenses Don't let the stress of finding quality childcare wear you down. Learn how to find the right daycare and prepare your finances for the added costs.

As a business owner, it's crucial to maintain a clear separation between your personal and business finances. Use this checklist to ensure you have everything in place:

Separate your personal and business:
1. Funds by having both a business and personal bank and credit card
2. Future by having both a business and personal spending plan
3. Fun by having both a business and personal schedule

As the great financial coach, Jim White always says, “If you’re going to be a business, act like a business!”