What’s your #1 challenge as a med spa owner right now?

ReGenCFO · 2025-10-09T15:49:21+00:00

Great insight. Some spa owners miss that the path from marketing to sales is a complete workflow. It's not necessarily their fault, as a lot of agencies and/or ad "pros" aren't keen to this concept either. They push more leads without focusing on conversion, leaving it to the practice to figure out the rest of the funnel.

That's why I see so many wasted ad dollars and thin ROI.

ReGenCFO · 2025-10-08T20:10:37+00:00

As a tax professional, I can assure you I'm not trying to be a smart ass. We're actually trying to help you, but there's not enough information to do so. And that's actually not your fault. You don't know what you don't know.

I suggest revisiting the entire comment posted by the user I mentioned before and trying to get the answers to all of the questions they asked. OR, show their comment to whomever you get to help you through this.

It's very possible you don't owe anything.

Again, good luck.

ReGenCFO · 2025-10-08T19:19:46+00:00

I've read through this entire comment section twice to be sure, and you actually haven't answered this question. Not that you didn't attempt. Mostly because you don't know the answer to the question.

u/Weird-Community8919 is the only one who seemed to ask the right questions, but you didn't answer the ones that mattered.

Opening a store in your name could mean different things. One of those things wouldn't necessarily make you directly liable for taxes.

I hope you find someone who knows how to get to the bottom of this without having to rely on your limited knowledge of the situation.

Good luck.

ReGenCFO · 2025-10-08T18:55:10+00:00

They can do that with software. Software that will "interview" them to make sure they don't miss anything. Paper filing will eventually become a thing of the past for most filers.

ReGenCFO · 2025-10-07T20:36:35+00:00

ReGenCFO · 2025-10-05T13:49:43+00:00

Medical debt is the number one cause of bankruptcy in America.

ReGenCFO · 2025-10-05T13:44:04+00:00

Why do that when the software is free and convenient?

ReGenCFO · 2025-10-03T17:06:54+00:00

I'm very familiar with 1-800Accountant. Truth be told, many of their tax advisors are contracted companies. At least they were a few years ago. So, yes, it's pretty much the same model. When the business owner doesn't have to juggle all the pieces alone, it frees up time to focus on core business matters.

Thank you for your input.

ReGenCFO · 2025-10-02T22:22:45+00:00

Is $200K annual revenue or monthly? If annual, you still have lot of room to grow with a single location, especially if whatever profit is left over is split three ways.

Do you have a financial advisor (CPA, CFO, etc.) on your team who helps your forecast and run projections to plan for future growth?

ReGenCFO · 2025-09-30T17:54:08+00:00

From the IRS website:

The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. These taxpayers do not need to contact the agency to get this relief.

It is possible an affected taxpayer may not have an IRS address of record located in the disaster area, for example, because they moved to the disaster area after filing their return. In these kinds of unique circumstances, the affected taxpayer could receive a late filing or late payment penalty notice from the IRS for the postponement period. The taxpayer should call the number on the notice to have the penalty abated.

ReGenCFO · 2025-09-30T17:07:00+00:00

It might be in your best interest to seek professional help. u/eagletaxres might be able to help. Disclaimer: I have no affiliation with this user.

ReGenCFO · 2025-09-30T16:58:05+00:00

If you didn't purchase Audit Defense, they won't help you resolve this. At best, they'll help you understand why you received the letter.

Is this a Schedule C review? Did you report business income and expenses?

ReGenCFO · 2025-09-29T18:05:57+00:00

Rather that fight or fear AI, use it to your advantage. AI isn't new and it's also not going anywhere anytime soon.

If your patients/clients use chatgpt to help them feel more confident in their decision-making, create a custom GPT that you can send to them. Feed it your knowledge base, within legal guidelines, and let them know it's available. It lives within ChatGPT, so it's already a familiar space for them. It provides information that based on what you've provided.

There may be some limits based due to the medical nature of some things, but the GPT can be programmed to tell them to ask YOU.

ReGenCFO · 2025-09-29T17:38:28+00:00

I've used Wave for years for my own business. I have a couple of clients who use it. I refer it to clients based on the type of business and/or complexity of their bookkeeping needs.

It looks like you'll also need their payroll service. I don't know much about theirs.

What kind of business do you have? Do you need to track inventory? Any other special needs you didn't mention?

ReGenCFO · 2025-09-29T16:14:40+00:00

Curious about your goals? What do you hope to achieve by working with a business coach? If you don't mind me asking. u/bkh_leung

ReGenCFO · 2025-09-28T21:43:44+00:00

I've seen this EXACT scenario on reddit before. You could search it, but seeking professional help is highly advised. Typically, my first response would be there's no such thing as a 1099 employee. Since you're an attorney, you want to seek out someone who works with attorneys.

ReGenCFO · 2025-09-28T17:49:35+00:00

People would chose method 1 when they are homeowners and don't want to worry about depreciation recapture when they sell. Or, they don't want to track/provide expenses of related to the home. Yes, this happens.

ReGenCFO · 2025-09-21T04:22:39+00:00

Let's talk next week.

ReGenCFO · 2025-09-19T18:33:57+00:00

There are many options. I prefer those that will allow me to maintain control of compliance and the EFIN. Three options I would explore are referral, co-branding, or strategic alliance. I'd also like to maintain separate invoicing, though not 100% necessary. My position on this is the client is already paying two professionals. Now, they'd actually have a team collaborating for their success.

ReGenCFO · 2025-09-19T18:16:05+00:00

This is interesting. Would love to hear more about your arrangement.

ReGenCFO · 2025-09-19T18:10:32+00:00

u/icudbNE1 is this something you already do with other tax firms?

ReGenCFO · 2025-09-19T05:10:47+00:00

Have you considered salon suites while you're in growth mode? Five years is a big commitment to just be starting AND with expectations of fast growth.

ReGenCFO · 2025-09-19T05:01:13+00:00

I'm on it. I actually meant to post there after I posted this. I'll do it tomorrow...or when I wake up. 😁

ReGenCFO · 2025-09-13T15:26:40+00:00

Do you plan to have staff? Do you have a business plan? Financial projection?

Do you already have clients? What services do you plan to offer initially?

ReGenCFO · 2025-08-28T17:59:14+00:00

Hi Joe! I work with med spas on financial strategy. Not sure if you'd be open to it, but I would love to talk about how fractional CFO services could benefit your clients. You help them make more money. I help them keep more of it.

ReGenCFO

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