Episode 294: 4 Horrendous Mistakes Many Pet Business Owners Make With Their CPA

If I asked you today, "how do your books look?" or "did you have any big surprises from your taxes?" would either of those questions confuse you? Scare you? Leave you feeling a bit unsure? That might sound invasive, but to evaluate your business, you have to be in the know of these aspects. You are not alone if you find this area tough to evaluate, but there is someone who can help you manage it all... your CPA. Owning a pet business can be extremely rewarding, but it also comes with a lot of responsibility. Keeping good books being one of them. One of the most important aspects of running a pet business is making sure you have a good relationship with your CPA. However, many business owners make these mistakes every year, which can damage this relationship and their business. I know tax season may have come to an end, but it actually is perfect timing for you to meet with your CPA. Or maybe you have your extension until October. Either way, in this episode I will encourage you to talk with your CPA to avoid these 4 horrendous mistakes too many business owners are making. Biggest Takeaways: I know some business owners are paralyzed in fear when it comes to their finances, I get it. However, you need someone, the right someone, to be in your corner to answer all the questions that you need to know to ensure your business, your finances, and your livelihood are taken care of. A business owner should ensure they are taken care of all around. How often do you speak with your CPA? Have you ever been surprised by a big tax bill? Do you know what is a right off? What options do you have for incentives for your staff? What about SCorp Vs LLC? There are 4 huge mistakes being made when thinking about the questions above, and I do not want to see you repeat any of them. There are ways to avoid them and confirm your business continues on the right path. Recommendations: Mastermind just welcomed a large group of new (and old) jumpers into the community. Here all of their HR questions will be answered with accountability partners to keep them on track. If you have been on the fence check out the Mastermind group and see if it's the right fit for you and your business. Are you looking for more depth? I offer two great options to spend 1:1 time with me picking apart my brain and helping you achieve goals to enhance your business. Whether you choose 6, 45 min zoom meetings or an in-person session where I come to you (or you come to me!) we can plan and achieve exactly what you want for you and your business. I am getting ready to start up semester 2 of Better Marketing With Bella! Good news, I have space for a couple more! You may have put the brakes on marketing while you were trying to hire, it is time to hit the gas! In Better Marketing With Bella, 6 months of your content is created for specifically you. You will also learn how to execute it all. Bonus... we have reels this semester too! Links: Better Marketing With Bella Mastermind Episode 272: How To Keep A Victorious Mindset About Your Business Life Episode 273: Are You An Order Taker Or A Problem Solver? Connie Story Pricing Guide Structure and Strategy (6) 45 min 1:1 intensive sessions Gingr Pet-Care Software Transcript: This is episode 294 of Bella in Your Business. You love to take care of the pets but not the busy work that comes with running a pet care business. Meet Ginger, the best-in-show dog daycare, boarding, and grooming software. Ginger is packed with time-saving features that make running your pet care business easier—and your customers will love booking appointments from the Pet Parent mobile app. More tail wags, less busy work. Say hello to simplicity with Ginger. Visit gingerapp.com/bella to claim your free one-month subscription. That’s G-I-N-G-R-A-P-P.com/bella to claim that one-month free subscription. Hi there, I'm Bella Vasta from Jump Consulting. You might know me from CBS, NBC, Fox, Huffington Post, Entrepreneur, or maybe you've seen me speak on stage or read my book The Four Dogs That Every Business Owner Needs. In any case, get ready because you're about to get your hashtag Bella Butt Kickin' in this next episode of Bella in Your Business. So what do you say? Let's get ready and jump. Welcome back to another episode of Bella in Your Business. My name is Bella Vasta. I'm your host, your coach, your cheerleader, and your butt kicker. I want to say a big welcome to June. Welcome to summer! Depending on where you’re at, you’re either gearing up for school to end or school has already ended if you have school-aged children. If you don’t, well, you don’t. But nonetheless, summer is coming—and guys, I continue to predict what’s happening. I’m not saying this to pat myself on the back, but to make you really think about it. Because this past week, I’ve had two people come to me saying the exact same thing: “Oh my God, Bella, people are canceling their walks. Walks are going down right now! My dog walking business is freaking out—I don’t have enough for my staff!” Well guys, back on episodes 272 and 273, I was telling you this was going to happen. I said back in February that dog walking would slow down this summer. Here’s why: people are traveling more, so they cut their dog walker. Or kids are home, so they do it themselves. Or schoolteachers and stay-at-home parents take over pet care during summer. It’s temporary—it will pick back up—but it’s your job to stay connected with those clients. It’s also your job to have started the whole sales process months ago—doing the things I mentioned in episodes 272 and 273. Remember those sitter messages like, “Hey, Fluffy was really mad at me that I wasn’t here yesterday, and I had to explain that Mom didn’t have me booked!” These subtle messages drive rebookings. If you’re a dog walking company turning down vacation clients because you don’t want to do AM, PM, or weekends, you’re missing opportunities. Vacation clients can be a huge source of revenue if you get creative. Every decision you make should align with your 90-day goals. That’s the first thing we do in the Mastermind—because your brain can grasp 90 days. You can envision where you’ll be by September, but not necessarily June 2025. And speaking of the Mastermind—drum roll, please!—we just welcomed a whole bunch of new members. Some joined for a year (which I recommend because it shows commitment), and some upgraded from monthly to annual. Welcome to: Christopher Cooper from Glad Wags Morag Wilcox from York Professional Pet Sitting (welcome back!) Linda Gregerson from Doggies Big Day Connie Alicia Bov—one of my favorites, you’ve heard me talk about her before! Cicilia Tyson from Paws Oasis Gwen Faircloth from A Dog’s Dish Renee Mena from Almost Home Pet Resort Catherine Perez from Golden Tails Dog Walking in Miami and Colorado You can still get in! If you want $50 off every month, sign up annually—it’s only $122 per month ($1,524 one-time). Go to jumpconsulting.net/mastermind. You’ll get: 90-day goals Accountability partners Hot seats with guests Monthly themes and organized training HR support and much more Now, let’s get into today’s topic: Four Horrendous Mistakes Pet Sitters and Dog Walkers Make with Their CPA. These are real mistakes I see every single year. Hopefully, if you got an extension until October, or you’re planning ahead, this episode will help you avoid those “Oh no, how do I pay this?” moments. Because let’s be honest—owning a pet business is a lot of work. You’re caring for animals, managing schedules, and keeping books. But one of the biggest things people neglect? Their CPA. 1. Not Planning Estimated Quarterly Taxes Your CPA can only be as good as what you give them. Think of them as a sandcastle builder: they can only build with the tools you provide. If you only give them a shovel and a pail, that’s all they can use. But if you give them an entire toolset—detailed bookkeeping, reports, and organization—they can build something great. A bookkeeper gives your CPA those tools. You need both. If you’re shocked every April because you “owe the IRS so much,” it’s probably because you haven’t been planning quarterly. You should review your P&L and say, “We’re tracking 45% up from last year.” Great—but that means your tax estimate from last year is now 45% off. Talk to your CPA at least quarterly. 2. Not Paying Monthly or Quarterly Taxes If you’re not paying monthly or quarterly, you’re likely racking up penalties and interest. Even if you didn’t know, the government assumes you did—and they’ll charge you for it. Talk to your CPA about the best frequency for your situation. For some, it’s quarterly; for S-Corps, it might be monthly. If you’re unsure, ask questions like: “Should I pay for mileage or reimburse?” “Should I give a flat gas stipend?” “Should I pay for time and mileage or one or the other?” Every situation is different. Don’t take random advice from Facebook groups. 3. Not Having Quarterly Meetings with Your CPA You should be meeting with your CPA four times a year. Put those appointments on your calendar now. I also recommend having a separate bookkeeper from your CPA. It’s cheaper and creates a healthy checks-and-balances system. I’ve had my bookkeeper for over five years. She knows my business intimately—what’s important to me, my risk tolerance, my quirks. She’s a sounding board. That’s why I prefer my CPA and bookkeeper to be independent of each other—it’s balance and perspective. If you’re not meeting regularly, you’re missing strategic opportunities—like deciding when to buy a vehicle or how to handle rising gas prices. 4. Not Filing as an S-Corp Eventually, your business will outgrow its tax structure. Filing as an S-Corp can save you thousands in double self-employment tax.