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A Well-Designed Business® | Interior Design  Business Podcast

229: Power Talk Friday: Jody Padar - How To Hire & Talk With a CPA

A Well-Designed Business® | Interior Design Business Podcast

LuAnn Nigara

Arts, Design, Business

4.9810 Ratings

🗓️ 8 September 2017

⏱️ 52 minutes

🧾️ Download transcript

Summary

The guest for today's Power Talk Friday is Jody Padar. She's a CPA and she also has a podcast called 'Let's Get Radical', so she goes by the name 'The Radical CPA'. Jody is the CEO and the Principal of New Vision CPA Group, which is a Public Accounting firm based in the Chicago area. Jody joined her father's firm more than ten years ago and today, we talk with her about what happened when she first joined, what it was like and what transpired from that. Listen in to find out more about Jody's radical approach to accounting and how it can really be of benefit to you, in your business.   LuAnn knows that at times, we all have to hear the same thing a number times before the light bulb actually goes on in our heads. Jody, as The Radical CPA, has a very different way of going about helping business owners and small businesses to navigate their way around the accounting side of their businesses and stay on track. It's a far cry from the old and staid model of accounting and this is why LuAnn has invited her on the show today, to put the bug in your ear again and to remind you that it really is time to grow up and do things right in your business. So, listen in now, for some great insights from Jody, about how accounting technology can really work for you, in your business.     Show highlights:   Jody talks about what it was like when she joined her father's firm and what happened there, once she joined.  The realization that Jody had about her business ten years ago, as a result of working with all the new technology and software that became available to her through the internet. How Jody banded together with other young CPA's seven years ago and they became coined as a movement of doing things in a different way- or Radical CPA's. The value and insight that a CPA should be bringing to a business, should be in in the forward-looking and the cash flow projections and helping to build the business. In the past, CPA's were so busy doing things, that they didn't have the time to step back and work in an advisory capacity. Now however, they can work in that capacity, because the technology is doing all the work that they used to have to do. What you, as small business owners or Interior Designers, need to know, in order to ask an Accountant or CPA the right questions.  If you're still living in a paper world, the first thing is that you have to automate, because the power is in the data. Working with Cloud Based Accounting. You can put the information in and the technology (the software program) does 85% of the work. Jody suggests using Quick Books Online, or Zero. These will allow both you and your Accountant to log in to your data. Working with your Accountant, in order to realise your goals- It's important to think about where you want to go, in your business, because the way that your Accountant is going to work with you, will be based on your values. Why Jody thinks that CPA's stand in the best position, as Business Coaches. Accounting is the language of business, so you need to be open to the advice of your Accountant, to face the facts and grow your business. It's very important to find the right Accountant- the one that you can really relate to. New school Accountants are building advisory into their practices. It's best to work with an Accountant who is working in a timely manner, in real time. You want to be talking to your Accountant four times a year, at minimum. Most Radical CPA's work in a fixed fee model, charging a subscription based monthly fee. This is to encourage communication. Your choice of entity is your number one tax saving factor.  Sales tax is a huge issue, so you, as Designers really need to talk to a professional about this.  Avalara.com is a great place to go to check out the Sales Tax Laws. You need to keep trying until you find the Accountant who is exactly the right fit for you and your business.   Links:   Jody's website: www.newvisioncpagroup.com    You can listen to Jody's podcast, Let's Get Radical, on iTunes or Stitcher.   Jody on Twitter: @jodypadarcpa

Transcript

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0:00.0

Have you heard about the exciting new exhibit by the Black Artists and Designers Guild,

0:05.6

which was commissioned by the Cooper Hewitt Smithsonian Design Museum in New York City?

0:11.1

Big news, right?

0:12.6

The Cooper Hewitt's exhibition is called Making Home, Smithsonian Design Triennial.

0:18.2

Now, the batch designers exhibit is titled the Underground Library,

0:23.8

inspired by the Underground Railroad. The Underground Railroad is the clandestine network

0:28.6

established in the early 19th century through which many enslaved African Americans

0:33.6

traveled in search of freedom. This library installation represents a 21st century sanctuary surrounded by art, objects,

0:43.5

artifacts, and books of black legacy.

0:46.9

In reimagining and repurposing the Andrew Carnegie Personal Library,

0:52.7

badge invites you to examine the power of home libraries

0:56.1

and the significance of literacy, remembering that African Americans were denied the right to read

1:02.3

under slavery. I'm honored to share that Window Works in Livingston was asked by badge to create

1:08.7

the flat panels for the windows. We used a custom design fabric

1:12.5

by badge members, and the fabric was fabricated by Stacey Garcia's team at Libatex. So please make a

1:20.0

point to visit this inspired space the next time you are in New York City. The exhibition runs

1:25.5

from November 24 all the way through August 10th,

1:30.1

2025. So you have plenty of time to get this on your calendar. We will put links in the show notes.

1:43.3

Welcome to a well-designed business with your host, Luann Migara.

1:47.0

Luan has a lifetime of experience building a multi-million dollar business with her husband and cousin,

1:53.0

and she knows the challenges you've faced in your interior design business.

1:57.0

Luan brings you real-life answers to your most pressing problems, as well as practical strategies

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