With a 25+year career under my belt and a promising future as a thought leader and educator ahead of me, I am officially smack dab in the middle - liminal space, LIMBO, or the more commonly known ‘gray area’ of this in between unknown that lies somewhere along the way from where I was and where I am going. My initial response, as by design which has always been goal oriented – is to not like this in-between-ness, because I’m not yet at my end goal.

This time it’s different. I’m choosing to acknowledge this space, to sit with and in this gray area where I acknowledge all the punches I’ve taken AND all the amazing paths that have been presented to me, because I’ve gotten up every single time.

My message to you in this month’s writing is that if you find yourself in this gray area - take pause, breathe, and embrace the lessons and the unknown ahead that await you once you do get up. This too shall pass, including all the messy moments that feel stuck, confused, or just too damn tired to push ahead. Victory only comes to those that are willing to take the punches, and to get back up instead of accepting defeat. That’s what good entrepreneurs, and good humans are made of.

For those moments when it’s easier said than done – HERE’s an inspirational video for that extra push from our ever-hopeful hero, Rocky. And if you need support navigating the gray area – in whatever space you operate in, check out the below resources (Tax and People) and hit us up before year-end while you have time to be proactive and in the driver’s seat of your business and life.

We are here for you, always in all ways. - Jessica and the BPR team

Services, Tax & Legal Updates

Estimated Tax Payments, Q4

Estimated Tax Payments, Q4 – next quarterly payments due January 15th 2025. Please let us know if you need help determining what you should be paying, or to get a plan in place prior to year-end to avoid under payment penalties. This is especially important for S-Corps, where tax agencies are looking for avoidance of employee payroll taxes by taking excess distributions.

Tax Preparation and Strategic Tax Planning

NOW is the time to review YTD 2024 Financials to avoid surprises in advance of year-end as recommended by BPR and the IRS HERE. For those that have filed Personal extensions, these returns are due on October 15th (6mths from April 15th).

Tax / Legal – Understanding and Appropriately leveraging the ‘gray’ area

Generally speaking, if you're spending money to generate income, it's a business expense. You must however, exercise reasonable and professional judgement about expenses and circumstances. We’re fans of tax minimization (unless you’re looking to Exit/Sell!), NOT tax evasion/fraud/abuse.

Resources - PEOPLE

The Question to Ask your Team

Human Resources Management

It’s NOW the best time to ensure Employee handbooks are updated in preparation for Q4 2024 and 2025 new hires! BPR can update Employee handbooks and other basic HR processes from personnel file and payroll management to quarterly employee reviews.

How to Build High Performing Teams

It begins with a shared Vision and Psychological safety, check out this Forbes read HERE.

Compensation

Check out these articles on how to pay yourself as an LLC owner, or how to prepare for raises in 2025.

Social Impact - How We Do Good

This section highlights how BPR gives back to the community every month, driven by our commitment to women and historically underrepresented entrepreneurs.

• Your Network is your Net Worth! It’s never too early to practice networking skills… We’re excited to volunteer for CSUSM’s BUS 300 Networking Night – a dynamic event designed to connect Business Professional Development students, primarily juniors and sophomores, with industry professionals spanning various sectors and in partnership with various local Business Chambers (Carlsbad, Oceanside, Vista, Temecula).

   

• Our attendees represent diverse tracks including Accounting, Business Analytics, Entrepreneurship, Finance, Global Business, Global Supply Chain Management, Human Resources Management, Management & Organizations, Management Information Systems, and Marketing.

   

• Hosted at least once a semester in the Fall and Spring, this evening promises meaningful connections as professionals engage in one-on-one conversations, aiding students in refining their networking skills. This is an invaluable opportunity to delve into different industries and business functions alongside seasoned experts.

Our People Spotlight - Team, Clients & Partners

We’re super excited for EOS implementer Michel Kripalani’s sleek, new office digs in Encinitas, available for offsites and workshops that create positive tension for companies so that they are maximizing performance. Stay tuned for upcoming lunch & learns in 2025 with one of our dear partners committed to effectiveness and efficiency.

Cash Flow, Capital Resources & Small Biz Topics

Use Loan or Grant Capital wisely and deposit into a High Yield Savings account!

SBA Express loans - can be used for working capital, expansion, equipment, debt refinancing, and more. SBA Express loans are designed to be faster and have lower borrowing limits than other 7(a) loans. Max loan amount $500k, 10yr term. Lenders can use their own processes to evaluate loans, which can help small businesses get approved and funded faster.

SBA 504 or 7(a) Loans - for property, business acquisition, equipment, working capital. Now up to 100% financing based on credit. More information HERE.

CA Small Business Loan Match. More information HERE.

Hello Alice – in partnership with LendFlow, connecting to over 90 trusted lenders that cater to small business. More information HERE.

Fast Break for Small Business. More information HERE.

The Amplifier Grant. More information HERE.

Galaxy Grants - Small business funding for women and minority entrepreneurs, deadline Oct 31st. More Information HERE.

Black Girl Ventures Pitch Program, crowdfunding meets pitch competition, $5k-$15k prizes for LA based entrepreneurs, deadline in early November. More information HERE.

HerRise MicroGrant. More information HERE.

Secretsos™ Small Business Grant. More information HERE.

Female Founder World Grant. More information HERE.

Bold Beginnings (Women under 40) - More information HERE.

Wish Local (Black business owners). More information HERE.