Business Finance 101

with Nina Jones

ABOUT NINA JONES

Nina Jones is a Certified Public Accountant and is the President/CEO of Nina Jones CPA PLLC. Her firm’s mission is to outsource Chief Financial Officer (CFO) functions to small businesses (for profit & nonprofit) that do not need a full time CFO. Her list of clients she serves ranges from entertainment, sports and nonprofit industries and has been in the accounting industry for over 30 years.

Nina graduated from the University of Texas at Arlington with a Bachelor of Business Administration specializing in Accounting, a Master of Business Administration from Dallas Baptist University and has her Certified Public Accountancy license. Nina is a member of the American Institute of Public Accountants, a deaconess at Oak Cliff Bible Fellowship and sits on the board of the Oak Cliff Christian Federal Credit Union (Board Treasurer), Downtown Arlington Management Group (Board Treasurer), Levitt Pavilion in Arlington, Alliance for Children and Theatre Arlington.

ABOUT THE COHORT

COHORT BEGINS MARCH 17th
THURSDAYS, 7:00 PM CST

Do you have an idea or vision that is burning a hole in you?  Are you aching to start a business?  Or have you already started one and are feeling overwhelmed in trying to execute your vision and also staying on top of finances?  According to the Small Business Association, over 627,000 new businesses open each year and statistics show that 20% fail in the first year, 30% in the second year and by year 5 over 50% of the businesses fail.  Why?  Multiple reasons from outside influences (COVID-19) to lack of a good foundation – which is where these sessions come into play.

The next 4 weeks we will explore a variety of topics from good financial management, selecting your key team (finance, attorney, investment, insurance, etc), budgeting, strategic planning and taxes! You will walk away with a knowledge of how to start a business, what key factors to look for in building your team, templates to prepare a budget, cash flow projection and strategic planning.  You will also know key dates that every organization must adhere to in the tax world. 

 

Session 1: Starting Your Business

  • What are your risk factors in starting the business – who are your competitors; what skills do you have; what skills do you need
  • What is the corporate structure of your business – self-employed? LLC? S Corp? C Corp?
  • What is the name of your business?  Name search?
  • Apply for EIN
  • Apply for Certificate of Formation (SOS Direct)
  • Do I need an attorney?  Company Agreement?
  • Start up costs?  Capital investments? Investors?  Board of Directors?

Session 2: Financial Management

  • Financial Reports
  • Cash Flow Projections
  • Budgeting
  • Variances & Analysis

Session 3: Taxes, More Taxes

  • Employment Taxes (941, TWC, FUTA) & due dates & penalties/interest for late payments
  • Federal Income Tax (personal, corporate)
  • Year End close duties – turning over your financials for a new year
  • Prepare books for tax CPA

 

Session 4: Strategic Planning

  • Research growth opportunities and team need to grow business
  • Prepare budgets for 3 years, 5 years
  • Develop a plan to meet the budget targets and corporate goals

BE NOTIFIED ABOUT FUTURE COHORTS

Have additonal questions? Contact us at hello@chrystalevanshurst.com