Podcast
Wealth Witches
Hosted by Katelyn Magnuson · EN
Welcome to the Wealth Witches™ podcast, where financial empowerment meets magic! I'm Katelyn Magnuson, your guide on this enchanted journey to holistic wealth and prosperity. Here, we honor all identities and invoke our inner witches to create a community where everyone feels welcome and inspired.
Formerly known as the Confident Money podcast, we've transformed into Wealth Witches™ with Katelyn Magnuson. This change is about embracing the once-taboo topics of money and magic, blending them into a powerful mix of practical advice and mystical insights. Whether you're here for financial tips or to explore the magical side of life, this podcast is your new home.
What can you expect from Wealth Witches™? We combine actionable financial advice with a holistic approach to life. You'll hear from guests like astrologers, neurodivergent business owners, and magical creatives, discussing everything from business requirements to the latest trends in holistic wealth. We're breaking down the barriers that make finance feel dry and inaccessible, making it exciting and relevant to your life.
This podcast is for anyone who feels out of place in the traditional financial world. If you've ever felt like your interests in magic, human design, or holistic living didn't belong in a financial conversation, this is the podcast for you. We're here to tell you that you can embrace all parts of yourself and still be financially successful. We're not just talking about money – we're talking about creating a life of abundance and freedom. Our community is dynamic, diverse, and inclusive, and we want you to be a part of it.
Join us as we explore new ways to think about money and life. We're here to challenge the status quo and help you embrace your inner witch on your financial journey. Each episode is designed to inspire, educate, and empower you to take control of your financial destiny.
🔮 Wealth Witches™ Monthly Membership Program 🔮
Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: www.thefreelancecfo.com/wealth-witches-podcast-member
Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. If you want more advice, visit our main Instagram @thefreelancecfo.
🌟 Enter to Win a Free Month of Wealth Witches™ Membership! 🌟
Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each quarter.
Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating ...
28episodes
Episodes
Newest firstAll episodes
Is Your Business Finally Ready for an S Corp?
1w ago00:19:39Tap to summarizeIn this episode, Katelyn explains what an S corp election actually changes, how it works alongside an existing LLC or corporation and why the potential savings come from self-employment taxes rather than income taxes.She breaks down the financial thresholds where an S election may begin to make sense, why business owners need to look at profit instead of revenue and how administrative expenses such as payroll services and additional tax filings affect the decision.Finally, Katelyn outlines the process of starting payroll as an S corp owner, including applying for the election, setting a pay schedule, registering for state payroll accounts and using Gusto to manage payroll taxes and direct deposits.Key TakeawaysAn S corp election is a tax election, not a separate business entity.Your LLC or corporation remains the same legal entity after making the election.An S corp owner receives both a reasonable salary and distributions from the remaining business profit.Business owners should evaluate profit rather than revenue when deciding whether an S election makes financial sense.Paying yourself an artificially low salary can lead to IRS scrutiny, back payroll taxes, penalties and additional filings.Business owners should work with a qualified professional when preparing Form 2553, particularly when multiple owners or spouses are involved.🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →What Makes a Brand Unforgettable with Taylor Tudisco
Jun 2200:44:41Tap to summarizeIn this thought-provoking conversation, Katelyn sits down with brand architect Taylor Tudisco to explore the difference between a brand that gets attention and a brand that lingers. Together, they unpack the hidden layers behind branding, symbolism, client experience and business growth, challenging many of the assumptions entrepreneurs have about what branding is really supposed to do.From startup culture and luxury service businesses to Greek mythology, visual symbolism and client experience design, this episode explores how the most impactful brands are built as living ecosystems rather than isolated visual assets.If you've ever wondered why some brands seem impossible to forget while others disappear into the noise, this conversation is for you!Key TakeawaysA memorable brand is built through intentional experiences, not just visual assets.Every business decision contributes to the overall perception of your brand.Strong branding requires alignment between values, operations, client experience, and visuals.Consistency comes from shared standards and guiding principles, not rigid uniformity.Symbolism and emotional resonance often influence buying decisions more than people realize.Guest Bio: Taylor Tudisco is a brand architect, literature enthusiast, and student of symbolism whose work explores the intersection of strategic infrastructure, aesthetic meaning, and business growth. With a career spanning industries from aerospace to emerging technology, Taylor began building websites in the space sector before leading brand development initiatives within the NFT technology space and pursuing extensive study in iconography, visual language, and historical symbolism.Driven by a fascination with what makes certain brands endure rather than simply be consumed, Taylor's work centers on three core questions: What allows a brand to linger in the minds of its audience? How do foundational strategy and aesthetic meaning combine to create precise brand experiences? And how can brand assets be intentionally designed to support long-term business growth?This approach to brand development has helped clients franchise businesses, create opportunities for successful exits, secure features in global publications, and command pricing that surpasses industry norms. Taylor views brands not as static identities, but as living ecosystems designed to create meaningful presence, lasting resonance, and measurable business outcomes.Connect with Taylor Tudisco:Website: https://tmtudisco.comInstagram: https://www.instagram.com/tmtudisco/Substack Profile: https://substack.com/@taylortudiscoSubstack Publication: https://novelabstractions.substack.com 🔮 Wealth Witches™ Monthly Membership🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches® membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →AI Won't Replace Your Accountant
Jun 800:24:34Tap to summarizeIn this episode, Katelyn shares her perspective on AI as both a business owner and financial professional. She explains how AI is currently being used inside accounting software, where it can improve efficiency and where she believes it is being significantly oversold.The conversation explores the difference between AI-assisted workflows and AI replacing professional expertise, the risks of relying on AI-generated financial or tax advice and the security considerations business owners should be thinking about when handling sensitive financial data.Katelyn also discusses real-world testing she conducted with AI-powered tax preparation tools, the concerns she uncovered around accuracy and accountability and the questions every business owner should be asking their accountant about AI usage.This episode is a practical discussion about AI literacy, financial responsibility and how to thoughtfully navigate a rapidly changing technology landscape without sacrificing accuracy, privacy or professional judgment.Key TakeawaysSensitive financial information should never be casually uploaded into AI platforms.AI-generated tax and accounting advice can contain errors or hallucinations.Business owners should understand how their accountants are using AI tools.AI literacy is becoming an important part of financial literacy.Convenience should never replace professional review for high-stakes financial decisions.🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →Debt Payoff vs Investing: How to Prioritize Your Financial Goals
May 1800:18:21Tap to summarizeIn this episode, Katelyn breaks down how to think about debt strategically instead of emotionally.She walks through different types of debt (including credit cards, student loans, mortgages, vehicle loans, and personal debt) and explains how interest rates, monthly payments, and financial goals should influence your payoff strategy.The episode explores when it makes sense to aggressively pay down debt versus when investing may create a better long-term financial outcome. Katelyn also explains why low-interest debt is not always a financial emergency, how debt-to-income ratios affect mortgage approvals, and why personal comfort and financial security matter just as much as the math.This is a practical episode for anyone trying to balance debt payoff, investing, savings, and future financial goals without relying on fear-based financial advice.Key TakeawaysList all debts by balance, interest rate, and monthly payment to prioritize strategically.High-interest debt (generally above 7%) should often be prioritized aggressively.Low-interest debt may be less urgent if investments can outperform the interest rate.Paying off a loan early may improve borrowing flexibility even if the interest is low.Debt payoff strategies can evolve as goals and life circumstances change.🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →How to Manage Your Money Without Tracking Every Dollar
May 400:17:03Tap to summarizeIn this episode, Katelyn talks about the concept of the “anti-budget” — a simplified approach to managing money for people who feel restricted or overwhelmed by traditional budgeting methods.Instead of tracking every dollar, the anti-budget focuses on prioritizing fixed expenses, automating savings and financial goals, and allowing the remaining money to be used freely. The episode explores how aligning your system with your natural spending habits can lead to better consistency and less stress.Katelyn walks through how to structure your cash flow around your pay schedule, automate transfers for savings, retirement, and debt payoff, and create a system that works with your lifestyle rather than against it. She also emphasizes the importance of understanding your real spending patterns by reviewing past transactions instead of relying on estimates.This episode is designed for anyone who has struggled with traditional budgeting and is looking for a more flexible, sustainable way to manage their finances while still making progress toward their goals.Key TakeawaysAutomating transfers reduces decision fatigue and improves consistency.Structuring pay and bills around your cash flow improves stability.Reviewing past spending gives a more accurate picture than estimates.Separating savings into harder-to-access accounts can reduce overspending.Minimum payments should be automated to avoid missed payments.Financial systems should evolve with your income and goals.🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →How Tax Brackets Actually Work
Apr 2000:13:44Tap to summarizeDisclaimer: This episode is adapted from content originally shared inside the Wealth Witches Membership program and has been repurposed for the podcast.In this episode, Katelyn breaks down one of the most misunderstood concepts in finance: tax brackets.She explains how progressive tax systems actually work, why moving into a higher tax bracket does not mean all your income is taxed at that rate, and how income is taxed in layers. The episode walks through real examples to show how earning more still results in more take-home income, even at higher tax rates.Katelyn also clarifies the difference between income taxes and self-employment taxes, and how different business structures impact what you owe. She highlights how S-Corp elections can reduce payroll taxes, but do not change your income tax rate.The episode closes with a strategic look at how to use your income intentionally: balancing salary, distributions, reinvestment, and retirement contributions to reduce tax burden while building long-term wealth.Key TakeawaysTax brackets are progressive, meaning income is taxed in layers.Moving into a higher tax bracket does not increase taxes on your entire income.Structuring income between salary and distributions can create tax savings.Strategic use of retirement contributions and reinvestment lowers taxable income.Timing purchases and investments can increase tax efficiency across years.🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →Tax Planning 101: How to Stay Ahead of Your Tax Bill
Apr 600:19:17Tap to summarizeIn this episode of the Wealth Witches Podcast, Katelyn breaks down how to make taxes less stressful by shifting how you think about them throughout the year, not just during tax season.She explains how quarterly estimated taxes work, when you’re required to pay them, and how they help spread out your tax liability instead of creating a large bill at the end of the year. The episode also covers underpayment penalties, different approaches to paying taxes, and how to decide what works best for your situation.Katelyn also addresses common misconceptions, including why paying quarterly doesn’t guarantee you won’t owe at year-end, and why leaving money in your business account doesn’t reduce your tax bill. She walks through how to use tax calculators to estimate what you owe and why relying solely on last year’s numbers can be misleading if your income changes.The episode closes with a broader perspective on tax strategy: why last-minute spending rarely saves money, how to think about deductions more intentionally, and why reviewing your finances throughout the year leads to better decisions and fewer surprises.Key TakeawaysQuarterly taxes help spread out your tax payments and reduce large year-end bills.Paying quarterly does not guarantee you won’t owe at year-end.Leaving money in your business does not reduce your tax liability.Retirement contributions can be a more strategic way to reduce taxes.Income changes can make prior-year estimates inaccurate.Reviewing taxes throughout the year creates better financial decisions.Check out the Get Your Finance Shit Together Self-Study Course: https://thefreelancecfo.biz/gyfstss🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →The Hidden Money Patterns Keeping You Stuck in Your Business with Scarlett Stanhope
Mar 2300:35:47Tap to summarizeThis week on the Wealth Witches Podcast, Katelyn sits down with Scarlett Stanhope, also known as the Biz Hippie, to explore the deeper layers of money, mindset, and business.Scarlett shares her journey from high-achieving burnout to building a life rooted in alignment, and how that transformation led her to help others redefine their relationship with money. Together, they unpack why fear, avoidance, and scarcity patterns show up in our finances and how those patterns often stem from unconscious beliefs and past experiences.This conversation dives into the connection between self-awareness and financial success, showing that making more money isn’t the solution if your internal relationship with money hasn’t shifted. Scarlett explains how clarity, emotional awareness, and intentional money management can reduce stress and restore a sense of control.They also explore how money can actually become a powerful and even fun tool when used consciously, helping you create a life and business that supports your wellbeing instead of draining it.Whether you’re navigating financial stress, building a business, or simply wanting a healthier relationship with money, this episode offers a grounded yet expansive perspective on what true wealth really looks like.Key TakeawaysMost money stress comes from not having a clear picture of your finances.Your relationship with money is shaped by subconscious beliefs and past experiences.Awareness is the first step to shifting financial behaviors and habits.Managing your money gives you back control and reduces anxiety.Healing your relationship with money directly impacts your business growth.Guest Bio: Scarlett Stanhope, aka The Biz Hippie, teaches coaches to conquer their finances and own their worth so they can be fully supported by the work they love!Scarlett harnessed the power of money to break free from her workaholic career path and pursue her dreams.She uses a combination of tangible money management strategies as well as a variety of coaching techniques to help her clients transform their mindset and relationship to money, allowing them to strategically achieve their goals.Connect with Scarlett Stanhope:Website: https://thebizhippie.com/Free Money Mindset Quiz: https://thebizhippie.com/quiz/Instagram: https://www.instagram.com/thebizhippie/Empowered & Abundant Podcast: https://thebizhippie.com/podcast/LinkedIn: linkedin.com/in/scarlett-stanhope🔮 Wealth Witches™ Monthly Membership🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches® membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Throughout October 2025 you can get 2 months free with our annual option! Sign up today: www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →The Most Tax-Efficient Way to Pay Yourself
Mar 200:12:52Tap to summarizeIn this episode, Katelyn answers one of the most common (and most misunderstood) questions from entrepreneurs: how do you actually pay yourself?She breaks down the differences between paying yourself as a sole proprietor, single-member LLC, partnership, and S-Corp. You’ll learn why owners draws are not payroll, why how you move the money doesn’t change your tax liability, and how to set up a consistent system that keeps your cash flow predictable.The episode also covers when payroll is required, how S-Corp elections change the process, and why semi-monthly payroll may be more practical than biweekly. If you’ve ever worried you’re “doing it wrong” or avoided paying yourself because of tax confusion, this episode brings clarity and simplicity to the process.Key TakeawaysOwner’s draws are not payroll and do not count as business expenses.You pay taxes on profit whether you transfer the money to yourself or leave it in the business.Setting a consistent weekly or biweekly pay schedule reduces chaos.Sole proprietors and single-member LLCs have flexibility in how they pay themselves.S-Corps must run payroll to maximize tax benefits.Profit distributions and bonuses are handled differently than payroll wages.Check out Gusto to simplify your payroll: https://thefreelancecfo.biz/gusto 🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
Transcribe →Building Your Business Foundation: Entities, Banking & Legal Setup
Feb 1600:22:05Tap to summarizeIn this episode, Katelyn walks through the foundational decisions every business owner needs to make when setting up or restructuring their business.From choosing the right entity type to understanding when an S-Corp election makes sense, she breaks down what each option means and how it affects your taxes and long-term flexibility.She also covers the difference between contractors and employees, how to properly register with the IRS and your state, what to consider when choosing a registered agent, and why opening the right business bank accounts matters for growth and organization.The episode closes with key legal considerations, including contracts, intellectual property protection, and operating agreements, especially for multi-member businesses.This episode is a comprehensive roadmap for anyone who wants to build their business on a solid financial and legal foundation.Key TakeawaysChoose the right entity (sole proprietor, LLC, S-Corp) based on long-term goals.Evaluate state costs before forming an LLC.Consider an S-Corp election once profits reach $40–50K.Know the difference between contractors and employees.Register properly at the federal, state, and local levels.Open dedicated business bank accounts and establish credit early.Put contracts and legal protections in place from the start.Use operating agreements for partnerships and multi-member entities.🔮 Wealth Witches™ Monthly Membership Program 🔮Are you ready to take your financial journey to the next level? Join the Wealth Witches™ membership for exclusive access to live training sessions on money, taxes, retirement, and business support. You'll also gain entry to our inclusive community where you can connect with like-minded individuals and get even more out of your financial journey. We're a community of passionate, purpose-driven entrepreneurs who see creating wealth holistically rather than stuck in another crypto-bro investing black hole membership. Join today: http://www.thefreelancecfo.biz/wealth-witches-podcast-memberThanks for Listening:Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share! Follow us on Instagram @WealthWitchesPodcast or drop us a message with your questions and episode requests. Looking for more finance tips, visit our main Instagram @thefreelancecfo.Subscribe to The Podcast:If you would like to get automatic updates of new podcast episodes, don't forget to subscribe. You can also give us a follow on your favorite podcast app.Leave Us a Review:Leave a 5-star review and include your IG handle to enter to win a free month of Wealth Witches Membership! We draw the winner at the beginning of each quarter.Stay magical and empowered, and remember, wealth isn't just about dollars in the bank – it's about creating abundance in all aspects of your life.DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.Music credit: Neon Fairies by Wolves
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