The Influencer Podcast with Julie Solomon

Episode Title: The Truth About Wealth-Building for Entrepreneurs
Guest: Nate, Co-Founder of Cookie Finance
Date: August 27, 2025

Episode Overview

This episode dives into the financial realities and strategies essential for entrepreneurs, specifically online creators, coaches, and educators. Julie Solomon sits down with Nate, CPA and co-founder of Cookie Finance, a firm specializing in financial services for creators. Together, they debunk myths, address common fears around money management, and provide actionable advice on everything from bookkeeping to maximizing deductions and long-term wealth-building for online businesses.

Key Discussion Points & Insights

1. Why Creators Need Specialized Financial Support

[02:09–03:54]

• Nate shares his journey from traditional CPA work to founding Cookie Finance, spurred by repeated horror stories from creators whose accountants didn’t understand the industry.
• He emphasizes the unique needs of creators—income types, deductions, and business structures—which are often overlooked by “mom and pop” accountants.

Notable Quote:
"Very, very quickly people started just reaching out to me and telling me all their horror stories they've had with their accountants who just don't understand creators... how it all works. And very quickly it was like, okay, I'm all in on this."
— Nate [03:19]

2. The Fulfillment in Serving Creators over Traditional Finance

[05:11–06:55]

• Nate details his shift from “making rich people richer” to helping individuals directly and how this realignment brought fulfillment and impact.
• A background in education and small business drove his desire to teach and empower creator clients.

Notable Quote:
"My whole job is to make rich people richer. I'm like, this is like the most unfulfilling thing ever... And as soon as I got that very first client and it was so personal and so one on one... it was such a huge difference of feeling fulfilled from what I love."
— Nate [05:39]

3. Empowerment over Abdication – Financial Literacy for Entrepreneurs

[08:07–10:24]

• Julie and Nate emphasize the importance of entrepreneurs not completely handing off their finances, but instead seeking to understand concepts to make better business decisions.
• Financial teams should educate, not obscure, empowering entrepreneurs to ask questions about LLCs, S Corps, and deductions.

Notable Quote:
"You never want to work with...someone where you relinquish full control...We want them to feel empowered, right? That when we give them a recommendation that they can push back..."
— Nate [08:21]

4. Normalizing Feeling “Behind” & Cookie Finance’s Onboarding Framework

[11:51–16:15]

• Most entrepreneurs, even those making six figures or more, feel behind with taxes and finances—this is normal.
• Cookie Finance’s process: set up LLCs, educate about S Corps (for those over ~$125K/year), set up bank accounts/QuickBooks, separate personal and business finances, and proactive tax planning (e.g., kids on payroll, SEP IRAs, solo 401ks).

Notable Quote:
"If you feel behind, welcome to 99.5% of all entrepreneurs... No one who comes to us has these things set up. So if you're feeling behind, you're not. You're actually, like, right in line with everyone else."
— Nate [11:57]

Actionable Advice:

• Open a separate business bank account immediately.
• Don’t feel ashamed to seek assistance—everyone is figuring it out.
• Proactive planning beats reactive scrambling.

5. Dismantling Shame, Guilt, and Myths Around Money

[16:15–22:36]

• Financial shame is especially acute for women, who often wait for a mythical threshold of “readiness” before taking wealth-building steps.
• Common myths: needing everything “in order” before seeking help, not being “ready” to save/invest, or that debt or inconsistent savings disqualify one from financial structure.

Memorable Moment:

• Nate recounts clients seeking “permission” to spend—one 27-year-old with significant savings and financial security, hesitant to use her money for enjoyment.
  "It's almost like she was looking for me and someone else gave her permission to spend that money, which I thought was interesting."
  — Nate [21:27]

• Shame works both ways: some clients feel guilty for having too little, others for having too much and not spending "correctly."

6. Zones of Genius vs. Incompetence, and the Power of Collaboration

[24:55–26:11]

• Entrepreneurs need to recognize their expertise and areas they should outsource, especially finances and design.
• Accepting areas where you lack skill is key to business clarity and growth.

Notable Quote:
"We all come with our zones of genius and then we also come with the areas that are I call our zones of incompetence...We have to know, like, this is my genius...this is also the thing that I need help from other people's zones of genius..."
— Julie Solomon [24:55]

7. Unusual Write-offs and the Creative Approach to Deductions

[26:11–31:05]

• Cookie Finance frequently helps clients consider untraditional (but legitimate) deductions: part of a wedding, home renovations, family vacations—if they are truly tied to brand/content.
• Most creators are overly conservative with deductions, leaving money on the table.

Great Example:

• A creator legitimately wrote off portions of her wedding after securing sponsorships and making it integral to her brand content.
  "It's kind of fun to like find ways. And that's why I love creators because they're so creative and entrepreneurial..."
  — Nate [28:38]

8. When to Bring in Professional Financial Help

[31:05–33:23]

• General rule: Once you’re generating ~$75K–$100K/year, it’s time to outsource bookkeeping/taxes.
• If your current CPA doesn’t understand online business nuances, consider switching—even if you already have an accountant.

Notable Quote:
"Is your time better spent 15 hours trying to stress over taxes and bookkeeping, or those 15 hours building content, chasing brand deals...?"
— Nate [32:56]

• Julie recalls realizing her accountant didn’t “get” the online world, which was a signal to look for a new financial partner.

9. Specialized Nuances of the Creator Economy

[33:23–36:55]

• Many traditional CPAs miss the key connection between creator spending (e.g., on clothing, production costs) and business operations.
• Cookie Finance routinely finds missed deductions in clients’ past returns, sometimes saving tens of thousands in taxes.

Powerful Illustration:

• Nate describes a fashion affiliate client who under-claimed $35K in clothing expenses due to her old accountant’s misunderstanding.

10. Creator Business Essentials—A Starter Solution

[38:16–40:26]

• Cookie Finance launches a "Creator Business Essentials" package for beginners: LLC, EIN, registered agent, and business bank account for $29/month—aimed at helping new creators start out correctly.

Notable Quote:
"The sooner you can get that set up, it makes your life infinitely better. And I'm sure Julia is like, you've gone from multiple different businesses...now I know how to set this up right from the beginning."
— Nate [39:24]

11. The Common Traits of Long-Term Financial Success

[41:05–43:45]

• The most financially successful creators treat their work as a serious business, not as a side hustle or hobby—even when the world around them fails to recognize it.
• These creators plan, invest in their growth, and make strategic business moves beyond content creation.

Notable Quote:
"The ones that thrive the most are the ones who take their business and treat it like a business... You're making close to $150,000 a year. Oh my gosh, that's not a hobby, that's a real business."
— Nate [41:14]

• Intentionally investing in business operations and growth, rather than waiting for some mythical “ready” moment, is the key to building a sustainable legacy.

Memorable Quotes

• Julie Solomon [24:55]:
  "We all come with our zones of genius and then we also come with the areas that are I call our zones of incompetence..."

• Nate [11:57]:
  "If you feel behind, welcome to 99.5% of all entrepreneurs... So if you're feeling behind, you're not. You're actually, like, right in line with everyone else."

• Nate [28:38]:
  "That's why I love creators, because they're so creative and entrepreneurial and it's like, okay, how can I make this part of my business?"

• Nate [41:14]:
  "The ones that thrive the most are the ones who take their business and treat it like a business..."

Important Timestamps

• [02:09] — Why Nate founded Cookie Finance
• [05:11] — Transition from big finance to purpose-driven creator accounting
• [08:07] — Importance of financial literacy, not abdication
• [11:51] — You’re not behind; most successful creators “catch up” as they scale
• [16:15] — Breaking the shame cycle and meeting clients where they are
• [26:11] — Unusual/write-off success stories—weddings, home renovations
• [31:05] — When to hire professional bookkeeping/tax help
• [38:16] — Launch of “Creator Business Essentials”
• [41:05] — What financially successful creators have in common

Resources & Further Information

• Cookie Finance Website & Blog: cookiefinance.co
• Instagram: @cookiefinance
• “Creator Business Essentials” service: Found via Cookie Finance’s website and linked in episode show notes.
• Julie Solomon: juliesolomon.net for newsletter, resources, and weekly insights.

Final Takeaway

Don’t wait for some mythical moment to “be ready.” Treat your business like the real thing it is, seek the right expertise, and remember: everyone else is figuring it out, too.

“This is your next step to set yourself up and your family up for long-term financial gain.”
— Julie Solomon [43:45]