Advisor Kathy Pyle: now is the time to get prepared for tax season

Advisor Kathy Pyle: now is the time to get prepared for tax season

Topics like bookkeeping, accounting, taxes, and payroll don’t have to be scary. Elevate Hennepin advisors can help take the fear out of the books and help Hennepin County entrepreneurs truly understand the financial picture.

Kathy Pyle, Elevate advisor and owner of Clear Talk Accounting, said proper financial management can transform a business dramatically. She has many examples like one owner going from struggling to get a loan to owning a multi-business enterprise a few years later. Another wrangled her confusing finances and eventually managed to acquire the real estate she was renting.

No matter the challenge, Kathy likes to communicate the “why” of what she’s doing to help her clients ask the right questions. With a little financial knowledge and professional support, they can save money and stop stressing about their finances and go do all the other things it takes to run a business.

“It’s not only about the accounting for me but it's making sure that people understand the importance of having correct financials. For instance, if you don’t, you can overpay in taxes, you can under pay in taxes and take a chance you’ll get audited,” said Kathy. “If I can reduce the stress of their financials, that increases their ability to go out and make sales and do all those other things to run the business.”

She says women often face more stress around finances, and she specializes in supporting women entrepreneurs addresses those fears head on.

“They’re more scared of it than men. They’re scared to get in trouble, they’re scared they might do something wrong, and they don’t know how to ask the questions,” said Kathy. “One, I like to make it understandable and two, easier.”

She has one big tip for owners between here and tax time: find some help.

“Make sure you have your bookkeeping in order, plain and simple. If you don’t, find someone right now,” said Kathy. “CPAs don’t take new clients after December 31, as soon as it switches over, you’re not going to find a CPA that wants a new client. So, you need to find that help in the next two months.”