Master Your Finances: Bookkeeping Tips for Small Business Owners

Mastering Your Business Finances with Nathan Stadler

Welcome back to I Know A Guy, today we meet Nathan Stadler, founder of Profits Bookkeeper and a financial expert dedicated to helping contract workers and small business owners streamline their finances. Nathan's mission is to take the stress out of bookkeeping, allowing business owners to focus on what they do best: growing their businesses.

From Yakima to Bookkeeping Success

Nathan, born and raised in Yakima, Washington, has been helping business owners get their finances in order for over 15 years. His journey into bookkeeping began when he worked with his brother’s landscaping business right out of college. Realizing how essential organized financial management was for business success, he decided to turn his expertise into a full-time business. Now, with over a decade of experience running his own firm, he specializes in making bookkeeping seamless for his clients.

The Biggest Bookkeeping Mistakes Small Business Owners Make

One of the key takeaways from our conversation was the costly mistakes small business owners often make with their bookkeeping. Nathan highlighted a few major pitfalls:

1. Incorrectly Classifying Expenses – Many business owners mistakenly categorize major purchases (over $2,500) as expenses rather than assets. This simple error can result in missing out on valuable tax deductions.

2. Procrastinating Bookkeeping – Some entrepreneurs only update their books once a year. The problem? By the time tax season rolls around, they’ve forgotten the details of transactions, which can lead to errors and missed opportunities for deductions.

3. Lack of Financial Awareness – Many business owners fail to review financial reports regularly, making it difficult to understand cash flow, profit margins, and opportunities for growth.

Why Outsourcing Your Bookkeeping is a Game Changer

For many entrepreneurs, handling their own bookkeeping becomes overwhelming. Nathan explained how outsourcing bookkeeping helps business owners:

• Save Time – Instead of spending hours categorizing transactions, they can focus on growing their business.

• Avoid Costly Mistakes – Professional bookkeepers know tax laws and accounting principles that can maximize deductions and compliance.

• Gain Financial Clarity – Understanding where money is going allows business owners to make smarter financial decisions.

Who Should Work with a Professional Bookkeeper?

Nathan primarily works with contract workers, small business owners, and entrepreneurs who are experiencing growth but struggling to keep up with their books. If you find yourself spending too much time tracking receipts instead of managing clients, he’s the guy to call.

The Power of Strategic Partnerships

One of Nathan’s strongest referral sources is CPAs and Enrolled Agents (EAs) who need properly organized financial records before they can prepare taxes for their clients. He also finds that insurance agencies and business coaches often refer their clients to him, as having clean books is essential for scaling a business.

The Impact of Professional Bookkeeping

Nathan shared a powerful success story about an insurance agency that came to him in complete disarray, with no records, no tracking, just financial chaos. Within a month, Nathan had their books cleaned up and tax-ready, leading to a long-term relationship where he continues to keep their financials in check. His ability to transform financial stress into financial clarity is exactly why so many business owners trust him with their books.

Get in Touch with Nathan Stadler

If you’re ready to take bookkeeping off your plate and gain better control over your business finances, Nathan is here to help. You can connect with him through:

• Facebook

• LinkedIn

• Website

Final Thoughts

Financial management is one of the biggest hurdles for small business owners, but with the right expert in your corner, you can remove the stress and gain more time to focus on what matters most. If you’re an entrepreneur struggling with bookkeeping, don’t wait until tax season to get your finances in order reach out to Nathan today!

Watch The Full Interview Here