Let’s Get Fiscal is where money meets creativity. Hosted by tax expert Anastasia, we break down tax strategies, money moves, and financial tips for creative entrepreneurs—without the boring jargon. Whether you’re a filmmaker, designer, or dreamer, we’ll help you keep more of what you earn and grow your business with confidence (and maybe a few laughs along the way).
EP43 - How Are Retainers Taxed? Your Creative Business Playbook
Retainers and deposits can feel like found money—until tax season hits and you realize you might be paying taxes on funds that aren't actually yours yet. If you've ever received a production budget in December only to pay it all out in January, or collected deposits for work you haven't performed, this episode is your essential guide to understanding when retainers count as income and how to avoid costly cash flow mistakes.
Anastasia and Myiesha break down the critical differences between refundable and non-refundable deposits, explain cash basis versus accrual basis accounting, and reveal when you might be accidentally paying income tax on money that's earmarked for vendors. You'll learn practical strategies for separating reimbursement funds from service income, discover when it makes sense to change your accounting method or fiscal year, and get actionable tips for managing production budgets, event planning expenses, and interior design client funds without draining your own cash flow.
00:00 Introduction to Retainers and Deposits
00:34 Meet Your Hosts: Myiesha and Anastasia
00:56 Understanding Deposits in the Creative Sector
01:33 Tax Implications of Non-Refundable and Refundable Deposits
04:25 Cash Basis vs. Accrual Basis Accounting
06:01 Deferred Revenue and Seasonal Business Considerations
07:25 Handling Retainers and Income Recognition
12:12 Practical Tips for Managing Deposits and Reimbursements
18:11 Final Thoughts and Viewer Q&A
19:58 Conclusion and Next Steps
Why subscribe? Every week, Let's Get Fiscal shares tax strategies and business finance advice that actually work for real entrepreneurs—not corporate-speak you can't use. You'll get specific, actionable tactics, real client scenarios, and answers to the money questions keeping you up at night. The goal is simple: make business finances less intimidating and more profitable.
🔗 Listen everywhere:
Apple Podcasts: https://podcasts.apple.com/us/podcast/lets-get-fiscal/id1831050448
Spotify: https://open.spotify.com/show/08AjRNfqQJBdG1vPazii4Q?si=fb0379d3bef94f11
Watch on YouTube: https://www.youtube.com/@letsgetfiscalpodcast
📊 Helpful resources:
Got a question for the show? Submit it here: https://www.coterietax.com/qa
Want to listen to more episodes? Start here: https://www.coterietax.com/podcast
Need personalized help with your business finances? Visit: https://www.coterietax.com
What's your biggest tax or money question right now? Drop it in the comments below—Anastasia and Myiesha read every comment and love helping with real-world situations.
#RetainerTax #DepositAccounting #CashBasisAccounting #AccrualAccounting #ProductionBudget #CreativeBusinessTax #DeferredRevenue #BusinessCashFlow #TaxPlanning #LetsGetFiscal #InteriorDesignBusiness #EventPlanningTax
2 Jun 2026
EP42 - Is Your Accountant Costing You? Spot Red Flags and Make a Change!
Your accountant should be your business partner, advocate, and financial guide—not a source of stress, confusion, or missed opportunities. But how do you know if your current accountant is truly serving your business or holding you back? Whether you're feeling underserved, overcharged, or just uncertain if it's time for a change, this episode gives you the clarity and confidence to make the right decision.
Anastasia and Myiesha break down the red flags and green flags to look for in an accounting relationship, how to interview potential new accountants, and what questions to ask before making a switch. You'll learn about communication styles, pricing expectations, timing strategies, and how to ensure a smooth transition. Plus, they tackle the guilt and hesitation many entrepreneurs feel about "breaking up" with their accountant—and why it's actually a normal, healthy part of business growth.
00:00 Introduction: The Cost of a Bad Accountant
00:46 Finding the Right Accountant for You
02:28 Challenges in Switching Accountants
06:36 The Industry Shift: From Mom-and-Pop to Corporate
07:31 Interviewing New Accountants: Key Questions to Ask
12:40 Recalibrating Expectations with Your Current Accountant
14:26 Client Relationships and Communication
16:15 Identifying Fair Pricing
18:11 Best Time to Switch Accountants
21:24 Questions to Ask Before Switching Accountants
22:50 Ensuring Smooth Transition
25:05 Adapting to Business Growth
27:06 Conclusion and Contact Information
Why subscribe? Every week, Let's Get Fiscal shares tax strategies and business finance advice that actually work for real entrepreneurs—not corporate-speak you can't use. You'll get specific, actionable tactics, real client scenarios, and answers to the money questions keeping you up at night. The goal is simple: make business finances less intimidating and more profitable.
🔗 Listen everywhere:
Apple Podcasts: https://podcasts.apple.com/us/podcast/lets-get-fiscal/id1831050448
Spotify: https://open.spotify.com/show/08AjRNfqQJBdG1vPazii4Q?si=fb0379d3bef94f11
Watch on YouTube: https://www.youtube.com/@letsgetfiscalpodcast
📊 Helpful resources:
Got a question for the show? Submit it here: https://www.coterietax.com/qa
Want to listen to more episodes? Start here: https://www.coterietax.com/podcast
Need personalized help with your business finances? Visit: https://www.coterietax.com
#AccountantRedFlags #SwitchingAccountants #SmallBusinessTax #CreativeBusinessOwner #TaxPreparer #CPAAdvice #BookkeepingTips #BusinessFinance #EntrepreneurTips #LetsGetFiscal #TaxPlanning #AccountingServices
26 May 2026
EP41 - Can Hairdressers Really Thrive Independently? Discover Financial Freedom
Hairdressers often fear leaving a commission-based salon for chair rental, but financially the shift can be life-changing. Most stylists earning 40% commission don't realize they're actually taking home closer to 30% after taxes and withholdings. When you rent a chair and go independent as a 1099 contractor, you keep 100% of your revenue—and even after paying for supplies, taxes, and your own benefits, you typically earn significantly more while gaining complete control over your schedule, pricing, and client base.
In this episode, CPAs Anastasia and Myiesha break down the real financial math behind going independent as a hairdresser. You'll learn exactly how W2 commission structures compare to 1099 chair rental, how to manage multiple income streams (cash, Venmo, Zelle, Square), the critical deductions most stylists miss, and why the fear of going independent is often based on misconceptions. Whether you're currently working on commission or considering renting a chair, this episode gives you the numbers and strategies you need to make an informed decision about your financial future.
If you're tired of hitting an income ceiling or wondering if going independent is worth the risk, this episode delivers the clarity and action steps you need to confidently make the leap.
⏱️ Timestamps:
00:00 Introduction to Going Independent
00:54 Types of Employment for Hairdressers
01:30 Pros and Cons of W2 vs. 1099
03:24 Financial Management Tips for Independent Hairdressers
04:34 Handling Income and Taxes
08:43 Additional Business Considerations
10:05 Freelancing vs. W2 Employment: Pros and Cons
10:31 Control Over Income and Work Hours
11:37 Long-Term Value and Career Growth
12:31 Making the Decision to Go Freelance
13:33 Financial Management Tips for Freelancers
15:21 Handling Tips and Gratuity
15:53 Commonly Missed Deductions
17:26 Overcoming the Fear of Going Freelance
18:03 The Importance of Professional Guidance
20:26 Final Thoughts and Encouragement
Why subscribe? Every week, Let's Get Fiscal shares tax strategies and business finance advice that actually work for real entrepreneurs—not corporate-speak you can't use. You'll get specific, actionable tactics, real client scenarios, and answers to the money questions keeping you up at night. The goal is simple: make business finances less intimidating and more profitable.
🔗 Listen everywhere:
Apple Podcasts: https://podcasts.apple.com/us/podcast/lets-get-fiscal/id1831050448
Spotify: https://open.spotify.com/show/08AjRNfqQJBdG1vPazii4Q?si=fb0379d3bef94f11
Watch on YouTube: https://www.youtube.com/@letsgetfiscalpodcast
📊 Helpful resources:
Got a question for the show? Submit it here: https://www.coterietax.com/qa
Want to listen to more episodes? Start here: https://www.coterietax.com/podcast
Need personalized help with your business finances? Visit: https://www.coterietax.com
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