The Boutique Bookkeeper Show | Know Your Numbers & Prepare For Taxes – Détails, épisodes et analyse

Are you making sales in your boutique but still wondering where all your money is going?

Do you panic at tax time because your books are a mess—or worse, nonexistent?

Are you tired of feeling like you should understand your numbers, but no one ever taught you how?

If you’ve ever felt confused, overwhelmed, or straight-up anxious about the money side of your boutique business, you are not alone. Running a retail business—especially online through platforms like Shopify—is no small feat. You’re juggling inventory, marketing, customer service, and social media… and somehow, you’re also supposed to be your own bookkeeper?

Let’s be real: finances can feel intimidating. Maybe you’ve tried spreadsheets, downloaded bookkeeping software, or even hired someone—only to still feel totally in the dark. You just want to understand your business’s money and feel confident making decisions. You want freedom, not fear.

I get it—I know what it feels like to try and figure out some of these new business skills on your own!

Hey there, I’m Megan Schmitke, host of The Boutique Bookkeeper Show. I have my Bachelor’s in Accounting and spent over seven years working in corporate accounting. But when I became a mom, I knew I wanted more flexibility while still being able to use my passion for numbers & helping others with their finances.

That’s when I started Finding Freedom Financial Services.

What I discovered? So many boutique owners were struggling with their numbers—not because they didn’t care, but because no one had ever taught them how to manage the numbers.

And while plenty of bookkeepers will do your bookkeeping for you, almost none will take the time to teach you how to do it yourself.

That’s where this podcast comes in.

The Boutique Bookkeeper Show is your go-to resource for breaking down the money side of your boutique in a way that actually makes sense. In each episode, you’ll get real-world, easy-to-digest education on topics like:

⭐ Understanding your Shopify reports

⭐ What numbers really matter in your business

⭐ How to stay organized month after month

⭐ How to prepare for tax season without the stress

⭐ And how to create systems that actually give you freedom—not more to do

Whether you want to DIY your bookkeeping with confidence or just want to finally understand what your numbers are telling you, you’re in the right place.

Let’s take the confusion out of your numbers so you can finally start to use them to grow a profitable boutique.

👉 Ready to connect and take the next step?

Follow me on Instagram @findingfreedomfinancial for more bookkeeping & tax tips, behind-the-scenes looks, and updates on new episodes.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn the simple bookkeeping foundation you need for easy bookkeeping, the 3 biggest mistakes to avoid when doing your own bookkeeping, and my 5 step process you can follow each month to make tax time a breeze!

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbooks Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics-course
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Hit subscribe and let’s turn your chaos into confidence—one episode at a time.

Today we are doing a little thinking & strategizing on what you can do BEFORE the end of the year to help save a little money on this upcoming tax season.

Generally, your bank account balances are getting a little stronger as we move through this holiday season, and I see so many business owners start spending money like crazy to “get the tax deduction”. And yes, while there may be SOME truth to that, it’s not the greatest strategy for your business & bank account.

So, today, I’m going to share my top 3 tips to help you save a little money on taxes & also help your business in the long run.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics-course
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://www.findingfreedomfinancial.com/tax-savings-tips

Related Episodes & Resources Mentioned:

Tax Benefits of Becoming an S Corp: http://findingfreedomfinancial.com/19

The Importance of Completing a Physical Year End Inventory: http://findingfreedomfinancial.com/55

I truly believe that EVERY business owner’s least favorite part about running a business is taxes. But, it is a part of EVERY business, so, like it or not, you gotta have at least a very BASIC understanding of how taxes work for your business, so that’s what we’re going to be looking at today.

This episode is going to explain the basics of how income taxes work for Sole Proprietors, LLCs, S-Corps, and Partnerships so you can begin to understand how you file and pay taxes for your boutique business.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://www.findingfreedomfinancial.com/how-income-taxes-work

Related Episodes & Resources Mentioned:

• Here’s an blank copy of what a schedule C looks like that’s a part of your personal income tax return for Sole Proprietors and LLC Business Owners: https://www.irs.gov/pub/irs-pdf/f1040sc.pdf
• Download your own boutique-friendly list of deductible expenses for your boutique: http://findingfreedomfinancial.com/deductions/
• Tax Benefits of Becoming an S Corp: http://findingfreedomfinancial.com/s-corp-structure-benefits/
• Here’s an blank copy of what a Tax Return 1120-S looks like that S-Corp Businesses will need to file each year: https://www.irs.gov/pub/irs-pdf/f1120s.pdf
• Here’s an blank copy of what a Tax Return 1065 looks like that Partnership businesses will need to file each year: https://www.irs.gov/pub/irs-pdf/f1065.pdf

Quickbooks Online is my absolute favorite bookkeeping software because of it’s ability to save you valuable time on your bookkeeping. This episode is going to help you decide which subscription level is right for your business, and then we’ll walk through the steps you need to do BEFORE you actually start USING Quickbooks to make your bookkeeping easier & faster.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at https://findingfreedomfinancial.com/bookkeeping-basics-course
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://findingfreedomfinancial.com/how-to-get-started-with-quickbooks-online/

Related Episodes & Resources Mentioned:

Quickbooks Provided Subscription Level Comparison:

https://quickbooks.partnerlinks.io/r7z78hg01286 (affiliate link)

Boutique Specific Chart of Accounts Template:

https://findingfreedomfinancial.com/coa-template

Blog/Podcast Episode on Understanding the Chart of Accounts:

https://findingfreedomfinancial.com/4

Bookkeeping Made Simple for Boutiques:

https://findingfreedomfinancial.com/bookkeeping-basics-course

The key to having easy to read & understand financial statements is having a clean & organized chart of accounts. Today's episode is going to dive in to what that is, why it matters, and how it's organized.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics-course
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://findingfreedomfinancial.com/chart-of-accounts-for-retail/

Related Episodes & Resources Mentioned:

Boutique Specific Chart of Accounts Template:

https://findingfreedomfinancial.com/coa-template

Tax Deduction Examples for Your Retail Boutique

https://www.findingfreedomfinancial.com/20

Understanding Inventory vs Cost of Goods Sold in Retail

https://www.findingfreedomfinancial.com/28

I know the money-side of your boutique business can seem scary, but that’s just because it’s unknown! We’re gonna start this podcast off REAL simple and start with the basics that lay the foundation for helping make the money make sense - your bookkeeping. We’re going to look at what bookkeeping is, why it matters, and 3 practical things that you can start doing today to start making the money make sense.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. 

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics-course
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://findingfreedomfinancial.com/what-is-bookkeeping/

Related Episodes & Resources Mentioned:

Blog post on why how you categorize expenses doesn’t REALLY matter:

https://findingfreedomfinancial.com/23

Customized Bookkeeping Spreadsheet for Shopify Sellers:

www.findingfreedomfinancial.com/income-expense-spreadsheet

Alright, over the last 3 weeks we’ve looked at each of the 3 primary financial statements, but they are not totally separate & independent reports meant to stand alone. They all work together to give you the big picture of your business, and that’s what we’re gonna look at today.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics-course
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

www.findingfreedomfinancial.com/retail-financial-reports-work-together

Related Episodes & Resources Mentioned:

Want to see how these 3 reports in action? Register for my free masterclass to see a real-life example of these reports: www.findingfreedomfinancial.com/masterclass

Have you ever gotten to the end of a great sales month, but you look at your bank account and wonder where all that money went? Maybe you look at your prior month Income Statement and it shows you had a $10,000 profit, but you only have a couple hundred in your bank account. If you’ve ever found yourself in a similar scenario, then the answer to your question can be found in your Statement of Cash Flows. This is the 3rd and final of the primary financial statements that we are covering in this mini-series, and is the best report to help you understand how the actual money is flowing through your accounts.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://www.findingfreedomfinancial.com/a-statement-of-cash-flows

Related Episodes & Resources Mentioned:

• Wanna see a real life example of the Statement of Cash Flows? Register here to watch the on-demand masterclass: www.findingfreedomfinancial.com/masterclass

Most business owners are at least somewhat familiar with an Income Statement, but the Balance Sheet is often ignored. This report is still important for you to review so you can see how your boutique is (hopefully) getting stronger over time. Today, we’re going to talk through the general layout of the Balance Sheet so you can begin to read & understand what this report is saying for yourself.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://www.findingfreedomfinancial.com/balance-sheet-101

Related Episodes & Resources Mentioned:

Previous blog/podcast episode on Understanding the Chart of Accounts: www.findingfreedomfinancial.com/2

The Income Statement is probably the most well-known financial statement, but it’s important that you know how to read & understand what this report is telling you about your business. This episode is going to explain the purpose of the Income Statement, walk through the general layout so you know how to read & understand it, and then wrap it up with a few specific numbers & calculations you should be reviewing on a regular basis.

Ready to take your learning a step further?

Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

Other Ways to Work With Me:

• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact
• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/bookkeeping-basics
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet

Prefer to learn while you read? Check out the blog post for this episode:

https://www.findingfreedomfinancial.com/income-statement

Related Episodes & Resources Mentioned:

• Grab your Chart of Accounts Template that you can import into Quickbooks Online for a boutique-specific report layout: https://findingfreedomfinancial.com/coa-template
• Register for the free Masterclass here to get a more in-depth look at the primary financial statements: https://findingfreedomfinancial.com/masterclass