Fauna Accounting

Hi, I'm Laurel! ?? I help veterinarians, equine business owners, dog walkers, doggy daycare owners, and other animal industry pros maximize their financial future and run more efficient businesses. ?? My love of animals stared at an early age. As a determined kiddo, I traded stall cleaning for riding lessons. I suppose you could say I've always been a bit of an entrepreneur! Prior to my accounting career, I held positions as a veterinary assistant, veterinary office manager, stable hand, farm manager. I am also a licensed riding instructor. Today, I have the joy and privilege of helping animal care business owners across the country do more of what they do best - caring for animals! Do you run an animal care business and need a financial partner who prioritizes your growth and helps you save money? Let's talk! ??

Are you stuck in a never-ending TOXIC tax cycle that looks like this? ?? First, your business earns money. Then, you spend money to keep your business running... But every quarter, you're panicking to find the cash to pay your estimated taxes! Here's what you can do to fix it: Figure out your rough effective tax rate. Then, automatically save this percentage of each of your sales. You might need to adjust spending in other areas to account for this, but it's going to SAVE you money down the road in penalties and interest. #horses #petcare #veterinarymedicine

?? SAVE this post to refer back to next tax season! Read the whole caption to see my bonus tip. ?? TEN WAYS TO SAVE ON YOUR TAXES: → Maximize HSA contributions if you qualify to contribute → Claim your tax credit(s) for any qualifying higher education expenses paid → Track your childcare expenses → Choose the correct entity type for your business(es) → Claim your tax credit for any qualifying home efficiency improvements → Track all qualifying business expenses for your business ventures (including start-up costs!) → File using the correct filing status → Contribute to tax-advantaged retirement accounts → Track start-up costs for new business ventures → File and pay your taxes on time to avoid penalties and interest BONUS TIP: Work with a tax professional to implement a tax planning strategy tailored to your goals. #horses #petcare #veterinarymedicine

In this month of thankfulness, I want to take today to express gratitude to a few of you: ?? To my clients, finances can be a sensitive, emotional topic and I'm so grateful for the trust you have in me to let me in! I cannot thank you enough for letting me help you grow your business. ?? To my followers, thank you for always engaging and connecting with me on a daily basis. Through the ups and downs, I'm so grateful for the relationships I have with you all. ?? To my family and friends, thank you so much for supporting me in achieving my dream of running @yourhandlehere. Here's to many more years of balanced books and growing businesses! ?? #horses #petcare #veterinarymedicine

The IRS has already released some inflation adjustments for the 2024 tax year (a.k.a the return you'll file in 2025). Swipe to learn how it'll affect you! ?? #horses #petcare #veterinarymedicine

"I wish I had hired you sooner!" I could probably retire from being a bookkeeper! ?? No, seriously! It's one of the most flattering compliments that my clients see the value in my work and wish they had been working with me sooner. Whether it's saving the time OR the headache of trying to do your own bookkeeping, I promise you it's worth it to outsource. ?? It's time to get back to doing what you love (and I'm going to guess that you don't LOVE bookkeeping!). ?? #horses #petcare #veterinarymedicine

I track ALL of my business expenses!?? Having a foundation of great bookkeeping makes it as easy as possible for your tax accountant to ensure you're maximizing the deductions you're qualified to take. ?? Think of it this way: if your financial reports don't show an expense, how is your accountant supposed to know to deduct it? #horses #petcare #veterinarymedicine

Are you ChatGPT-ing your bookkeeping questions?!?? Even the learning language machine itself acknowledges it has some shortcomings... If there's one thing I've learned in my years of bookkeeping, it's that every business is unique! And AI just isn't built to handle nuances like that, yet! ?? But, that's not to say new technology doesn't have a place in your business's bookkeeping. Syncing your bank accounts is a great way to leverage automation, as long as you have someone double-checking it all! #horses #petcare #veterinarymedicine

Contributing to a tax-advantaged retirement account is a powerful way to save for the future (and on taxes!). ?? But, choosing the right retirement plan depends on your goals! Swipe to learn some of the differences between a Roth and a traditional IRA. ?? *This post is not intended as investment advice. Please consult a financial professional.* #horses #petcare #veterinarymedicine

The short answer is: ask your accountant to determine what's best for your tax situation! But generally, taxpayers whose total qualifying expenses in these categories exceed the standard deduction should itemize: ?? Medical and Dental Expenses (greater than 7.5% of your AGI) ?? State and Local Taxes ?? Mortgage Interest Paid ?? Charitable Contributions ?? Casualty and Theft Losses A majority of taxpayers will benefit from taking the standard deduction, but it's always worth checking if your spending is high in any of the above categories! #horses #petcare #veterinarymedicine