Mastering Business Financials: Why Every Entrepreneur Needs a CPA Like Quan Jamison
By Business Bullish
When it comes to running a successful business, financial literacy isn’t optional—it’s essential. Many entrepreneurs focus on sales, branding, and marketing but neglect their financials, leading to cash flow issues, unnecessary tax burdens, and even business failure.
In our latest Business Bullish interview with Quan Jamison, CPA, she breaks down why financials are the most criticalpart of a business and answers key questions like:
• Should you switch your LLC to a Corporation?
• How to ensure your business is profitable?
• Where should you cut costs—and where shouldn’t you?
If you missed the interview, catch it now on Spotify 👉 Listen Here
LLC vs. Corporation: What’s Right for Your Business?
One of the biggest questions entrepreneurs ask is whether they should stick with an LLC (Limited Liability Company) or switch to a Corporation (S-Corp or C-Corp). Quan Jamison, a financial expert and business manager to top celebrities and entrepreneurs, breaks it down:
✅ LLC (Limited Liability Company)
• Best for small businesses & startups
• Pass-through taxation (profits go directly to the owner’s tax return)
• Easier to manage with fewer compliance requirements
✅ S-Corp (Small Corporation)
• Best for businesses earning $50K+ annually
• Offers self-employment tax savings
• Owners must pay themselves a “reasonable salary”
✅ C-Corp (Corporation)
• Best for scaling businesses & investors
• Ability to raise capital with stock
• Profits taxed separately from owner’s income (corporate tax structure)
Quan’s Advice: If your business is growing beyond a side hustle, it may be time to switch from an LLC to an S-Corp for tax advantages and business credibility. But always consult a CPA before making major structural changes!
How to Keep Your Business Profitable
A profitable business isn’t about how much money you make—it’s about how much you keep. Here’s what Quan Jamison emphasizes:
📌 Track Every Dollar – Don’t let expenses eat away at your profit. Use software like QuickBooks or Xero.
📌 Cut Costs Wisely – Reduce spending on non-essentials, but never cut corners on accounting or financial management.
📌 Tax Planning is Key – Work with a CPA year-round, not just during tax season.
🔗 Want to learn more? Dr. Marlo Richardson dives into these financial strategies in her books:
The #1 Financial Mistake That Kills Businesses
Many entrepreneurs don’t realize that lack of financial knowledge is the biggest reason businesses fail. They wait too longto hire a CPA or ignore tax-saving opportunities that could save them thousands.
💡 Quan’s Key Advice:
• Financial literacy is your responsibility—don’t rely on guesswork.
• Understand your numbers—cash flow, profit margins, and tax obligations.
• Invest in expert guidance—a CPA can help you keep more of your money.
🚀 Ready to take your business financials to the next level? Listen to the full interview with Quan Jamison on Spotify 👉 Listen Here
Final Thoughts: Don’t Cut Corners on Financials
🔹 Knowing your numbers = growing your business
🔹 LLC or Corp? Choose wisely based on tax benefits & growth plans
🔹 Hire a CPA early to maximize profits & minimize tax liability
At Business Bullish, we don’t just talk about wealth—we build it. Stay ahead of the game by following Dr. Marlo Richardson and learning from her financial wisdom:
🎧 Listen to More Business Bullish Interviews on Spotify
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