The Alimond Show
Welcome to The Alimond Show --join us as we share our entrepreneurial guests' stories, uncover their secrets to success, and explore the unique paths they've taken to build thriving businesses in our community.
In each episode, our host, Aliyah Dastour, sits down with a diverse group of local business owners, from the corner cafe to the boutique shop, from tech startups to family-run enterprises. We peel back the curtain to reveal the trials, triumphs, and transformational moments that have shaped their entrepreneurial journey.
Discover the passion, perseverance, and innovative thinking that fuels these businesses, as well as the challenges they've overcome along the way. Whether you're a budding entrepreneur seeking inspiration or simply a curious listener interested in the stories behind your favorite local spots, The Alimond Show has something for everyone.
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Join us every week as we celebrate the unsung heroes of our local business community and explore the vibrant tapestry of entrepreneurship in our area. Tune in to The Alimond Show and get ready to be inspired, informed, and motivated to support and nurture the businesses that make our community thrive.
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The Alimond Show
Navigating Financial Health with JoAnne Alston, Monique Kennedy, and Clarice Williams: Bookkeeping, Taxes, and Beyond
Meet the finance doctors—Joanne Alston, Monique Kennedy, and Clarice Williams—who are on a mission to revolutionize how entrepreneurs manage their financial health. Originating from a serendipitous meeting at the Northern Virginia Black Chamber of Commerce's accelerator program, this dynamic trio formed Jomoccler to empower business owners with vital financial knowledge. In our latest episode, we promise to equip you with the tools to avoid common pitfalls like tax mismanagement and bookkeeping blunders, all while showcasing the critical roles each partner plays. From Monique's insights on bookkeeping as the key to securing loans, Joanne's expertise in tax preparation, to Clarice's strategic advisory services, you'll walk away ready to tackle your financial challenges head-on.
Get ready to transform your business's future with actionable advice and insights on the importance of investing in professional financial services. Tune in to learn more about their upcoming November 14th workshop at the Hallmark Building, where personalized and practical guidance awaits. Just like you’d see a doctor for health concerns, these finance doctors remind us why we should treat our financial well-being with the same urgency. This episode not only highlights the necessity of expert intervention to prevent financial headaches but also celebrates the empowering journey of investing in yourself and your business. Listen closely as Joanne, Monique, and Clarice humorously share their expertise, leaving you inspired and prepared for financial success.
My name is Joanne Alston, cpa. I'm owner and lead advisor at Merrily Financial Merify. I run a CPA advisory practice, so that's how I fit into this.
Speaker 2:My name is Monique Kennedy. I am the founder of New Financial Pro. It's a bookkeeping and business solution resource.
Speaker 3:And I'm Clarice Williams and I am the founder of Webb's Training Center and together we make Jomoccler and we are a partnership and what we're doing today is going to talk about the workshops that we want to offer to the community. A little bit on our origin story is that we met through the Northern Virginia Black Chamber of Commerce. They had an accelerator program and surprisingly, we were surprised that they had three financial people in the same cohort. But lucky for us, you know, we were able to find a way to kind of really work together, and a part of that is because we recognize there was a need.
Speaker 3:One common issue that we all ran into was that a lot of our clients or leads will come in not really knowing about what they need for their business to run it and then to scale it and then to try and apply for loans business loans. So I'll actually have Monique talk about that a little bit, because the foundation of a lot of businesses that people don't know about is bookkeeping. The foundation of a lot of businesses that people don't know about is bookkeeping. Surprisingly, especially when people go out for loans not just business loans but home loans too One of the first things that's asked for is that we need to see if you can pay us back, right? Yes, of course Right.
Speaker 2:So they're looking at their books, and Monique can talk a little bit about that too. Fortunately for us, in the midst of building this initiative, we've had some opportunities to speak to some bank lenders those who are looking for individuals to provide these loans for One of the common things that they spoke on was the lack of financial knowledge that some of these clients had coming into the banks looking to grow their business, and so super exciting for me as a bookkeeper, because it lets me know I will always have work. So, with that knowledge and the knowledge that I have, just when it comes to business owners and what they need in order to be successful with obtaining those loans, bookkeeping is that fundamental blueprint. This is where it starts and it comes down to knowing the numbers, being able to tell your financial story through your numbers. So this initiative is super exciting, just allowing me to continue to grow in my profession and then help others along the way.
Speaker 4:Absolutely, I love that. Do you want to add to that, yeah sure, the tip of our origin story.
Speaker 1:We met with the Northern Virginia Black Chamber of Commerce, as Clarice had mentioned, and we knew that there was a need for what we could collectively come together to do, because one of our calls we were trying to explain to all of the other founders in the group we all individually did because everyone just assumed there are three finance people in the group but not understanding that each of us had our own lanes and did our own things respectively, but they all played a large part in the finances of a business. So when we kind of explained it to everybody, the way Monique has just said, with bookkeeping being that base of that structure, we explained it like a triangle you have that base with the bookkeeping and then you have your tax preparation, which Clarice can assist with to make sure you're in compliance and you're not scared every time the IRS sends you a letter. Oh my God, because if they call you it's not them, it's over?
Speaker 4:No, I'm just kidding.
Speaker 1:And then once you're ready to grow and expand to Clarissa's point, being able to tell a story through your numbers you may need that extra level of advisory service so someone can say this is working, this isn't working. This is where you should move forward, kind of be a liaison between you and your banks, but also just make sure everything's together so when you're ready to grow you can be approved for those loans and you understand what's happening in your business. So when we did that, we were like we're on to something. Joe McClure is a thing Like business owners need this.
Speaker 1:They need to know what's happening in the organization. Because they get into it out of passion and love and have no clue what's happening behind the scenes when it comes to their finances. So we were like let's do this, let's help people and I know Clarice has a passion for helping. She doesn't want to just say you're wrong, she wants.
Speaker 2:She wants to say well we can fix it by doing these things.
Speaker 1:That's one way. So hence her non-profit and going out and helping people. So when I met these two women and we came together, I was like this is fate again. What was the odds that in that group the three of us would come together with the expertise that we had and the businesses that we have to help people? So we're just here to help business owners however we can, I love it.
Speaker 4:What have been some of the things or issues that some business owners have come to you guys and you're like we got that. Come on, sit down, let me help you Talk to me about some of those issues, just so our listeners can get a feel for like, oh yeah, this is something that I'm experiencing. I would like to work with them.
Speaker 1:Absolutely A little bit of everything and that's why we all serve part. So, starting not having good bookkeeping, people start businesses thinking, oh, I'll get one software and I can do it myself. And I got this because nine times out of 10 solopreneurs, entrepreneurs you have this sense of pride about you, like you're doing it on your own. You should be able to do everything.
Speaker 4:I don't need help, I got it.
Speaker 1:But that's also what screws them in the end, because they don't go to the proper place for this help, so that bookkeeping essentially is the biggest piece. A lot of the people that I even speak to, I'm looking, I'm like I know where you're trying to go, but we got to start at square a and that's why we all work together. So bookkeeping I think I see that and then just not knowing their numbers, even if they have it, they don't know what to do with the information. They don't know how to understand the information, ask the questions. They don't even know if the information is right. They're just like well, I got a report.
Speaker 2:I don't even report. This is. And so, as a bookkeeper, um, yes, to your point they are definitely scrambling around because they can be overwhelmed. There's a lot of information, and so we are asking those business owners. It's okay to ask for help, and then for me, with bookkeeping it's oftentimes can I write this off? Can I do this with my taxes? What will happen if I don't file this on time? So, while bookkeeping, a lot of tax questions come up, which again lets us know that there's information out there that you should be reaching out to professionals for, because if you don't know the answer, let's not guess.
Speaker 4:Yeah, let's not guess, especially with numbers.
Speaker 2:Especially with your numbers. Let's not guess and let's not assume, because our goal is longevity, right, we want these business owners to be able to stay in business for past that five-year mark of make it or break it. So what we often come across is that level of confusion, but not wanting to necessarily ask for help, but and so it's our goal and our job, kind of to guide them through why these things are important, which brings us back to the workshops, which brings us back to educating the client, which brings us back to, like, let us give you the tools. And again, even with those tools, you will still need direction, but we want to at least give you the tools.
Speaker 3:Absolutely Okay, but we want to at least give you the tools. Absolutely Okay. One thing I did want to mention is that you have so many people for example, there's a lawyer that recently had an IRS court case and what they were, what the IRS was saying, is that their marketing expenses were not legit. So what the lawyer had done was, let's say, he was based in Ohio, yeah, and then he bought a race car. He put his lawyer business as a wrap on the race car and was racing in, let's say, indiana, yeah, right. So he was trying to say, no, this $150, you know, this $150,000 sports car is advertising, it's for my business, it has my the wrap one there. And so here's the other thing it has to be reasonable right?
Speaker 4:Yes, absolutely so the.
Speaker 3:IRS is like did you really need? That $150,000 car, oh man. And he did lose, and not just because of the amount, though here's the thing he may have been able to do, something that was necessary or ordinary if it was in his own state.
Speaker 4:Yes.
Speaker 3:So he didn't have a license to practice in the other state. There was no like referrals from the people in Indiana giving out referrals from people in Ohio, so that's a part of why he lost the case. So then they took away that deduction. That in turn turned it to taxable income to the business. But see if he spoke to somebody beforehand. Who knows, maybe somebody gave him that advice, you know. But the thing is, we're here to educate, we're here to bust a lot of. We're the myth busters, right.
Speaker 4:We're the county myth busters right Trademark pending.
Speaker 3:You heard it here first y'all the financial myth busters but, that's what we want to do, which kind of segues into the event that we're having? Yes, ooh, yes.
Speaker 1:So November 14th, we are having the launch of our financial workshops. So we are inviting a few and chosen individuals, um, because, specifically, we want to one show everyone the true value behind what we are trying to do yes and the best way to show someone is to show them.
Speaker 1:So, we're inviting them and we're wanting this feedback, but what we're going to do is we're initially going in and we'll have our topic, and our topic is understanding your financials, because a lot of business owners need to understand them. One thing is having them, another thing is understanding them. And then, after we do that, we'll ask them a few questions to let them know where we feel they'll stand as far as the strength of their finances and their business, so to speak.
Speaker 1:Since we are directing this cause to making sure businesses are fundable, we're going to let you know. Are you? You know, point A, point B and point C? A being we need to start making a plan for you. You got to start orchestrating this stuff. These are the things you might want to be aware of. C is okay. We see you might have some information and you're working in the right direction. We're just going to polish you off to get there.
Speaker 1:And then C is definitely going to be. You're ready, we can go into a lender with you tomorrow. We have the information you need and, if you want us to be your spokesperson or that liaison, that we can support you through these efforts. Because even once you get to the point of speaking with the lender, then you have to understand their language, then you have to know if they have follow-up questions that they're looking for. The battle isn't over once you've gone into the event.
Speaker 3:It's just starting. It's just starting.
Speaker 1:The battle isn't over until the check clears and you see that money in your account.
Speaker 1:So we're trying to get businesses to that point and understanding that. And then another thing that we are here to help for and I think it's worth mentioning, because a lot of business owners may have this pain point, and this is why we're here to help they're back on their taxes, because when you have a smaller organization, uncle Sam IRS are doing multiple things and they may not be coming to you now, but at some point they can and they will come to you.
Speaker 1:And I know businesses who have been going for years three, four, maybe even five years of not filing. Oh well, at least I pay a little bit here. I pay something there, I pay a little bit here.
Speaker 2:Is this giving? She might be a little guilty.
Speaker 3:Those are the people we want to invite to the workshops.
Speaker 2:Those are, and what is going to be a little different with our workshops is that one on one assistance Right, and then you have three individuals. That's hitting all the time, and so we hope that that's something that we can offer in our workshops. That's a little different from what is already out there Because, honestly, these resources are already available. Every bank has them on their website. Every individual in the finance may offer a workshop, but how often do you get three beautiful Black women, that's right.
Speaker 2:A trio that's coming across with expertise in all the different areas, and we're going to sit down and help guide you through some, you know, light steps to get you to the next step.
Speaker 3:Absolutely so my plea, if you're listening now. If you think your bank statement is a financial report, this workshop is for you. It is not a financial report. If you have QuickBooks and you think QuickBooks automatically does all the bookkeeping for you, it does not. This workshop is for you there you go.
Speaker 3:You are, let's say you are reconciling in QuickBooks but you're not quite looking at all of the expenses on your profit and loss. Because just recently I saw somebody they had a whole bunch of Amazon purchases. They were supplies, yeah, but it was auto categorized through QuickBooks as meals. So I'm like, wow, why do you have 10,000 in meals From Amazon? Like what's going on? See, those are the things that actually kind of triggers those IRS audits right.
Speaker 3:So people think that sometimes you have to spend hundreds of thousands. No, it's things that don't make sense. So it's like why does your landscaping company have $10,000 in meals from Amazon? It's not Amazon, I mean. It's not meals I mean. So that's why it takes. And it's actually more in-depth than that. Let's say it is true, you're going for a loan right A part of what Joanne would do. Even when she has her meetings with you, she's actually looking over your finances to say, oh wow, this is pretty high. Is this what's helping moving the business forward? Or even when a bank or a lender is looking at your application, it was like, wow, they spent a lot of Krispy Kreme.
Speaker 3:And it's not necessary for the business. It's got to be stopped. So those are the things. We're so, much more than just kind of pointing fingers and saying ha ha, ha. No, we're actually here to help.
Speaker 4:Love it? No, but you can do the ha ha ha too Love it.
Speaker 3:So Thursday, november 14th it's going to be at the hallmark building where my office is. It is on our own website. If you go to webstrainingorg, you will see a drop down in the programs for the jomo claire.
Speaker 4:Beautiful the jomo claire, the dynamic trio yeah, love it, yes, yes and it'll have the future dates as well.
Speaker 2:So, um, because this first one is going to be something special for us it is our first one okay, so, um, it's going to be a small intimate setting, but we on that website, we also have the rest of the dates right yes, we have other workshops too awesome that we're looking for signups, for we will have refreshments Wonderful and then we'll also be offering a few personalized one-on-ones.
Speaker 3:So, if you feel comfortable coming with some of your business info, we're going to look at it privately together and then we're going to talk about it. So I don't want somebody to be like oh, this is just another, you know, like timeshare presentation you know where we're kind of showing everybody what we're doing.
Speaker 3:Then we're saying gives us tens of thousands of dollars. No, we really want to put this in action. One. We're trying to get the word out. We want to build our brand visibility yeah, but then we've got to get some testimonies too Exactly so. I want somebody to scream for joy and say wait, wait. They'll be saying ah-ha-ha. Exactly.
Speaker 4:That's the way to do it. I love that Wonderful. Hopefully, people who are listening too can reach out and find more information on your website. Is there anything else that you guys would like to share before we wrap this up?
Speaker 1:No, that's our biggest thing, I definitely want to thank you.
Speaker 2:It's a great opportunity to again push the initiative and get people aware of what we're doing. Again, the goal is we want to help businesses grow. We want to qualify them for business loans that will contribute to the next five years of their business and if they have questions and they are trying to figure out what the best resources, if they are overwhelmed by all the information that's online, we are definitely one more of those resources, but we will Again because of our team. It is just more hands on, more individuals able to guide you through those steps. So we're really excited and hopefully, by 2026, we have our first 100 business owners that have qualified and grown the business within the community. Yeah, let's manifest that.
Speaker 3:You know last thing I do want to say and I forgot to even mention this. I used to work for the IRS oh Right, don't add in there. I worked with them for like six and a half years and I was a tax examiner and I was actually one of the first points of contact. So if you got that dreaded letter saying that you didn't report something on your tax return, it was this chick right here who was reading your response and I was like this chick right here who was reading your response and I was like, hmm, where?
Speaker 3:I was like oh, it was so many times. I'm telling you they didn't look.
Speaker 3:I'm telling you I was that girl, the employee there, I sympathize with everybody oh man let me just wave that for you, but oh, they may come after me for that, like, wait a minute. But ultimately, what I wanted to show them the very human side of it. So in the IRS there are definitely a lot of people just like me. We're human, or they were. They are human. They're human people. And one of the things I wanted to do was also still help taxpayers understand. If you do get a letter, don't be alarmed. It's great to have a team. That's what your team is there for. Help taxpayers understand. If you do get a letter, don't be alarmed. It's great to have a team. That's what your team is there for. But don't shy away from the IRS. That's the last thing you want to do. But that's a part of what we'll be talking about too. And even if you do get that dreaded letter, let me tell you it's nothing like knowing that you got the right stuff, not like that lawyer, you know, but for real.
Speaker 1:So that's what I just wanted to add to that piece and then before we end, we can all go to let everyone know where they could find us for individual business and professional, Perfect yes please. Yes, so myself I run Merify CPA advisory firm, so you can go to my website, wwwmerifycom. That's M-E-R-F-I. You can send me an email at inquiry at Merifycom, m-e-r-f-i, or give me a phone call at 571-544-0544.
Speaker 4:Beautiful, thank you.
Speaker 2:Again Monique Kennedy, founder of New Financial Pro. Again Monique Kennedy, founder of New Financial Pro. You can find me at info at New.
Speaker 3:Financial Pro N-U-F-I-N-A-N-C-I-A-Lcom, and Clarice Williams at webstrainingorg. You can also email me at clarice at webstrainingorg. You can call me. You can send a contact. Fill out one of the forms on the website. You can also text the toll free number too. I'm accessible, Very my goodness, all right.
Speaker 1:Yes, come get it. Don't be ashamed and don't shy away. If you're an entrepreneur, just get the help that you need, because you'll pay for it at some point. You're going to pay for it now, for good help like the services we provide, or you'll pay for it later in some way. If you're closing your business, if you get that dreaded IRS letter, if you're denied for funding, something will happen. So just invest in yourself, invest in your business and and it's confidential too, just like well.
Speaker 4:We won't be posting it on Instagram stories or anything.
Speaker 3:Now, if you're doing a crime, that's something else.
Speaker 4:But no seriously.
Speaker 3:It's like with a doctor right, you're scared to go, you got a bump. Look, go get it checked out. Get your records checked out too. We're here, we're the finance doctors, we're the Joe McClairs.
Speaker 4:We're the Joe. Where's your Leclerc?
Speaker 3:period yeah.
Speaker 2:I love it period that's it.
Speaker 4:Well, thank you, ladies. So much for being here. It was fun. You guys are funny. I could tell like it's a party working with you guys, like a lot of laughs, but also serious when you need to be right. You both, all three of you sure no, just kidding no, but thank you so much for being on the podcast. We really