Profitable on Paper, Broke in the Bank: Smarter Tax and Money Strategy with Emily Bowie

Emily Booey, welcome to the Grow Your Wealth Podcast. I'm honored to have you here today. How are you? Good. Thank you so much for having me. It is a pleasure. I know our listeners are in for a special treat. Well, Emily, you've spent more than 15 years at a massive accounting firm before starting your current endeavor. I'd love if you could kind of take us back a little bit and what makes you decide to become an entrepreneur yourself and explore this world of like financial independence a little bit differently. For sure. So it definitely hasn't been straight in there. I will say I was in public accounting and by like every piece of paper check box, I was super successful and I just was like not fulfilled and I was looking for something. It didn't really know what it was going to be, but I was looking for something to like really have a purpose because auditing though I feel like it gave me so many tools and skills. It just a lot of people just didn't really want me to be where I was at when I was auditing. So they didn't really want to take my advice and suggestions. And so I knew there was had to be something better and more out there. And so I had been focusing on my health and fitness and I was like, okay, well, maybe I can help people with this even though this isn't like my expertise. And it was like the first introduction I had to like, oh, you can start your own business. I mean, like I knew, but I didn't really think that was available to me. And so that I actually did for about 10 years over the span. And I just knew I was supposed to use my skill set. I just didn't know how because though I wanted to help people, I was like not as passionate about health and fitness. It was more of something I needed to do, but I did love that I was helping people do that, you know. Yeah. And so I got introduced to an ad for Dave Ramsey. And he was like talking about how you could become a certified financial coach. And I was like, well, I don't really need to do that, but I could help people with that. And so I posted on Facebook and I said, we got out of debt a couple years ago. Would you be interested in me helping you do the same? And I got like hundreds of comments. And so that's kind of how I started. And then I realized a lot of the people I was helping had these side hustles or had just been starting a business. And then I was helping them with operating effectiveness and cash leaks and all of that jazz. So that kind of then tilted me into the business strategy world that then created the CFO side of the house. And now my business partner and I worked together to support business owners to find cash in their business to use for tax strategy. So when I say it has not been straight and narrow, it has not. But I definitely feel like there was a purpose for every season. Absolutely. And something that I really appreciate about you too, Emily, is that you do recognize, you know, there is a business strategy side of it, but also like a personal strategy side of it as well too. And I would honestly not be surprised if there were people out there who want to start a business. However, maybe their personal financial debt is scaring them a little bit like prohibiting them from making that leap. Can you share a little bit with us today just in terms of, you know, how you yourself, because you've got experience with this not only with you, but with your clients too, made that leap ultimately like what are some of those foundational financial decisions that you made? Yeah, I feel like you hit the nail on the head. I think a lot of people don't recognize their, the chaos they have in their personal finances are really hindering what they can do professionally or the impact they could truly make because when you get a handle on your personal finances, that changes the trajectory of your life. And for me, that was a big thing. When I had that side hustle doing health and fitness, I used that to pay off our debt. And that was huge. And so one thing I would recommend first is don't look at a budget like a three or four letter word rather. Look at it as just a plan for your money. And I think a lot of times people don't even get to that point because they feel like it means it's a restriction or they kind of have to pay their dues for choices they've made. And so I always encourage people to just look at it and then decide the next step versus avoid it and count yourself out because I think the biggest thing is there's so many opportunities available if you have the eyes to see, you know? Absolutely, absolutely. Let's talk about a phrase that I know that you have shared before and I know many of us entrepreneurs have felt honestly in many stages of business and that is being profitable on paper but broke in the bank. Do you see this a lot? What is it going on? Yes, yes, yes. And I think this is probably more common than not. And I think as business owners, if you even look at your financial statements, so I put that caveat at the beginning because I know there are so many people out there that either don't have financial statements or don't necessarily look at them. And if they look at them, they'll look at the profit and loss statement, they'll look at their net income, but they're never really comparing their net income to their cash. And that's where you can actually dive a little deeper to see what might be happening in your business versus where your business just produced, if that makes sense. Yeah, absolutely. I love the way that you've also described it to, like typically when a certified public accountant is reviewing your books, reviewing your numbers, reviewing those exact statements, right? I speak from experience as well, too. You describe it as more of an autopsy than a strategy, which I was like, oh my god, yes, that is so true. It's like dissecting the what happened, but a not always a plan for the future. And I remember chatting with my business strategist about this once and he's like, you know, most CPAs, they're not entrepreneurs, like they're not necessarily like planning, maybe for tax planning, but in terms of how, what does that relationship and leave between tax planning and business planning? Can you talk to us a little bit about that? For sure. So I think there's so much that can be learned from having solid books and awareness of what your books are saying. And the biggest thing is it gives you this opportunity to do proactive tax strategy, proactive resuscitation to your business versus just submitting your books in April, and then March, depending on if you're an escort, but like submitting them and you're like, okay, what's the damage, you know, and so I think the biggest thing is we are very passionate about business owners building wealth alongside the business they are growing and scaling. And tax strategy gives you that opportunity, but if you don't have good books, if you don't know where you stand, it's really hard to actually implement those tax strategies. And then the other thing we noticed, gap in the market was that people didn't have the cash available to do it. And so that's why we created this offer where we help you find the cash and then use that cash for tax strategy. But to answer your specific question of like, how does this all work together? Is when you have this cash at your business, you could let it sit in there and you could reinvest it or you could pay yourself. And I think there should always be a healthy balance between the two. But when you are trying to build wealth and being able to take advantage of tax advantageous ways of doing that, it's powerful because it's not just planning for today, but it's planning for the future. So a couple things you can do would be investing in retirement because you do receive depending on the type of retirement you have a tax advantageous vehicle to be able to not pay taxes on a certain number in your business. And then there are other opportunities when you elect to be an escort to where you're able to pay yourself the same amount, but you do it in a strategic way so that you're able to use tax advantageous vehicles such as an accountable plan or a gust of roll to be able to get money into the household without paying extra taxes on it. And so that is the power of knowing your numbers, being aware of where you stand, but then also proactively making decisions in January, October, all of that before the year ends. And it actually sets you up for today and tomorrow. I love that. So I have a business, but I'm not a CPA. I'm not a tax strategist that I'm pretty sure most of our listeners are not. So maybe they'll appreciate some of these questions as you're open to answering them Emily. So basically what you're talking about is like, there are tax advantages that are available to many kinds of business depending on, you know, our UNLLC and S-Corp, a corporation, and so forth. And it sounds like a lot of business owners are not aware that they exist and are not using them. And you mentioned, too, I'm familiar with the Augusta plan. So that's like you can rent out your house to your business, right? Maybe you can tell us a little bit more about that. And then the accountable plan, too, I think is really interesting. Like what are some of those like low hanging fruit for people that they should have these conversations with you or their account? Sure. Sure. I think that is great questions and a great opportunity to know a little bit more about what's available to you. I think where I would want to start is when it's time to become an S-Corp versus just a regular sole prop. So when you first start your business and you're an LLC, you will do a schedule C for your taxes. It is part of your individual return, all of that jazz. Well, there comes a point in time where that doesn't make a ton of sense for you anymore. And that is typically an R opinion around netting, meaning revenue, less expenses, but net income of 80K or more. And really depending on the state like New York or California, that is a bit higher where it actually makes sense to become an S-Corp. But the reason I want to start there is because most people don't know when it's actually time and there can be a lot of noise online that says to do it before then. And the reason I caution people to do it before then is that it can hinder your growth and your scaling because you don't have cash available to actually be able to reinvest in the business sometimes because when you become an S-Corp, you start prepaying taxes. You start paying yourself via a W-2. And that can really be hard on being able to grow and scale. So I have seen businesses in my time where they do it too soon. And then they inevitably have to unbecome elected as an S-Corp. And so that's like step number one is like make sure this is your time to actually do it for it to make sense for you. But the beautiful thing about electing to be an S-Corp, you kind of just open up all these opportunities for levers to pull. And this is what I feel like most people don't really realize or understand and why I always encourage when you elect to be an S-Corp that same year you get tax strategy. And the reason you get tax strategy is because as long as nothing like is crazy happening in your business all the time, you can run that tax strategy year over year. So you are only like setting yourself up for success to at least do it that first year. You become an S-Corp. And some of the low hanging fruit that come with that is the Augusta Rule, which the history of it is basically in Augusta, Georgia. People would rent out their homes for golf. I don't know which one of the things, but I'm sure somebody on here knows golfer. But they would rent it out to people. And I think it's the PGA tour. So then they would rent it out and then it would be tax-free money for them. So now business owners can rent their homes to themselves for conferences, team retreats, whatever the case may be for 14 days out of the year and pay themselves without owing tax on it. It becomes an expense to the business. And so there's a proper way to do that. So this is where I say, make sure you understand the logistics and the specifics of it if you're going to do it. But it is very legitimate. And it's just another opportunity to bring money into the household without paying taxes on it. Now, the second thing would be an accountable plan. And this simply is a plan that allows you to get reimbursed for expenses that your company has deemed necessary for you to do business, but they end up being personal expenses. So for example, if you have a home office and you're not taking that Augusta Rule, you can run your home office in all the related utilities through your accountable plan. You can run travel through your accountables plan. So say you go on a trip and 20% of it was business and 80% was personal. You could run that 20% through the accountable plan. You can do it for mileage and there's also like a whole slew of other things. But it's a great way to be able to reimburse yourself throughout the year and bring money into the household that is tax-free. Okay, so love all of this. So I'm a business owner and I work from home for the time being and I do a content shoot in my living room. This could be a great opportunity to rent out my set location to factor PR and you're saying that basically I invoice them as Rena Goodwin. I invoice factor PR in my business pace. So when you say money back to the household, yeah, it's not the business in the household. It's who's renting it out, which would be me as a human. Yes, yes. So I think the good thing about it too is when you work with the strategist, they will often show you scenarios and may help you pick the most beneficial one for you. So sometimes it's running the gust of roll depending on where you're at. So if you live in an area where it's expensive to rent conference rooms and other houses of similar nature, then it may be advantageous to do the gust of roll. But if not, you can use your home office deduction. So like there's so many opportunities there. And when you work with a tax expert like my business partner, she's able to be like, yep, deductible, not you can get reimbursed for that. No, you know, it's just kind of having someone in your back pocket being like, yep, and you could like build confidence off of that versus like questioning whether or not you're doing it right. You know, I think, I think what's so beautiful about that, like you mentioned being more proactive is that, you know, you mentioned it, like you're spending money on these things, but they can really open doors to a new level in your business as well that you weren't necessarily even quite aware of because you were held back by some of these limiting beliefs that like, I can't do that. For sure. And I also think it's just like one of those things when we become a business owner, we usually start because we are good at the one thing that we're trying to do. But then we become this person who does our marketing or advertising, you know, we're doing our accounting. We're looking at all of these things that we kind of get in this habit of just taking it on versus outsourcing it. And you just, especially when we're talking like legal advice, accounting advice, those types of things, leave that to people who keep up with what the roles truly are. So then you can just grow and scale and do the thing you do so well while you build wealth, you know, absolutely. I think that's so important. That's a huge theme here on the podcast is like, while we try to educate, help and power entrepreneurs, I think part of that power is knowing who the best experts are that can advocate for you and your business as well too. So I love that reminder. Like, I feel like taxes and legalities are things that I'm just like, do not mess with. I always tell people that there becomes a time in your business where it cost you to not invest in something and that when we're talking about tax advice, we're talking about legal advice, cash flow support and help. Like, those are really key areas that if you don't invest, you're actually costing yourself more because you're limiting your growth and your wealth potential in end. Absolutely. In addition to investing in, obviously, a really good CFO, CPA, Thorn advisors, I know does kind of a mix of both, which I'm like, I love that. What are some other investments that you see giving business owners? Some of that are a why that we're looking for, particularly when it comes to building wealth for sure. So one thing we did not mention and I think is key and it's anybody at any income level outsourcing your books. I cannot encourage it enough because it gives you that opportunity to be strategic and it allows somebody who is good at what they do to go do it. And it's probably the most affordable thing for you to outsource that can like 10X, 13X in no time because you now can have solid numbers, you can have confidence in. And then it gives you this opportunity to make decisions, whereas if you're the one like wondering if you put it in the right account or are these numbers actually real? Like all of those things, then you don't have that confidence and then you move like you don't have that confidence. And so I think that is the best thing you can do if you're just like starting out. The other thing if you know you are making a good income and all of that and you're looking for opportunities is investing in retirement. I think a lot of people neglect that when they are in the early stages or even mid stages of their business because it feels like a lot. But I can't recommend it enough because not only do you get tax savings with it, but you want to set up your legacy because like that's why you started your business in the first place. Most of us, yes, we're passionate about the thing we do, but we're bringing opportunity to others and the best way we can do that is have it live a long time and you can do that with retirement. I love that and probably depending on again what stage in your business you're in, there are certain, you know, types of retirement opportunities, simple IRAs, 401Ks, Roth IRA steps, yeah, and all of those good stuff which it sounds like, you know, would it be at CPA or a financial planner that should help them navigate that? So I think it's kind of like a partnership situation because financial planners are very helpful to see what is available to you. Tax strategists are going to tell you how it's going to impact your tax liability and your financial planners, though they understand tax implications, they don't know your whole picture and that's where a tax strategist is like that perfect combo with a financial planner, but it brings me to an even bigger point with this is sometimes we hire this person and that person and that person and then we're the in-between communicator. We do not recommend that ever because financial people speak in financial ease and so what we really encourage is if you have a separate bookkeeper from a separate tax strategist, from a CFO or a financial planner, they should all at some point in the year be on the same call. That way they all can like interject with their expertise of looking at it holistically and that is one thing that I feel like sets us apart is that a lot of people don't want to do that extra legwork I would say to involve these other people in the conversation, but I think it's a detriment to the client if we're not all talking. Okay, I have another question. We talk a lot about profit. Profit is so important, right? It's the heartbeat of the business. What makes it all worth it? But Emily, just in like my circle of people, I have heard a lot about like, oh my god, like we're getting up to Q4 of 2026 right now and you're like, thank god, I've made profit. I am going to get so taxed. You mentioned retirement and other kinds of investments to just reduce that tax burden. You know, should we be having these conversations? I mean, it sounds like probably six months ago, right? Just to kind of look at these projections, but you know, a lot of business owners come to the end of the year and they're like, oh crap. Yeah. So I think early and often is the best recommendation. And then the second is to start now because, truly, I will tell you, a lot of business owners, this is like our busy season for strategy, because everybody comes back from after having their taxes done, they roll right into summer. And then they come back and they're like, oh crap, I have a lot of money and I need to know what to do with it. There's still time right now to be able to do these things. There's, you know, the year only ends 1231 at the end of the day, right? So I think it's really important to not count yourself out, but to seek support and just ask for help. So if you have a CPA, they very well may offer strategy services, you just have not engaged them to do that. So I would ask them, first, if they are not a good fit or they don't offer it, then seek somebody that you really feel like you trust and know because when you are hiring tax strategists, you're hiring their risk profile. You are hiring their expertise. You are hiring the way they solve problems. And so I think it's really important that you feel like I would give the power to them to make the best decision for me. And I think sometimes we look at pricing more importantly than what they're actually going to go do. And that can always set us up in a bad spot. The other thing too when it comes to a tax strategist is I love the people that ask, what are your goals both personally and professionally? If they do not start with that, they are not the right fit for you. And the reason being is because you can look broke on paper and not pay any taxes, but when you go to get a mortgage or you need a line of credit in your business, that's following you. And so if they don't know what you're trying to do both personally and professionally over the next three, five, ten years, they could put you in a spot that doesn't make any sense for you. And also you kind of have to ask yourself like the suggestions they give you, like how would they know it would be a right fit for you if they've never asked you what you're trying to do. I love that. It's so important. I think to work backwards from any goal quite honestly, but almost nothing is as important as your ambitious financial goal. So having that conversation up front makes so much sense on so many levels. I'm curious to hear from you too, Emily, is there ever a situation that you have encountered where minimizing your tax liability is actually not the right move? Yes. So one low-hanging fruit that a lot of tax strategists will offer that probably does not make sense for a lot of people would be depreciating a vehicle at 100%. So they have to go buy said vehicle that they may or may not need. They depreciate it and they reduce their tax liability. But now they have to pay for that vehicle. And they didn't need it. They actually needed that cash in their business so they could continue to grow in scale. And so when we're talking about like when is it right to reduce the tax liability versus not those are things we're looking at like how you're doing it doesn't actually make sense for you. But then also to like is this going to hinder your growth? Because I think sometimes we miss that because we don't want to pay the IRS the dollars where like certainly I just want the thing I want. But you could be setting yourself back two years of growth because you bought the thing and didn't pay the IRS. Whereas if you just paid the IRS, you could actually continue to grow in scale, you know. Oh, okay. This is like I hear so much about this online that I've been dying to ask someone about it. So I'm like, you know, just conflicting things all of the time. But like I saw an ad the other day and it was like a woman gasping up her G wagon. She's like, I wrote this off. And I'm like, do you tell? Do you tell? He's like, we just explain. I want a G wagon. Like, tell me more. And, you know, I like looked it up and like, how does this happen? So, you know, if I can kind of break this down for my brain and maybe for our listeners as well. Okay. You, in order to write off a vehicle last I heard is that it has to be a certain kind of vehicle, usually like a very expensive vehicle. And a certain weight to eights. Yeah. To be able to do the whole right off. Yeah. Yeah. So let's say you want to buy a car. You're going to have to buy a certain type of vehicle that, you know, let's say you want the G wagon because you can write off some of it, but not all of it. But then you just have invested or sunk $150,000 into a G wagon. Only been able to write off a certain amount of it when you could have been just fine with like a $60 Volkswagen. Is that kind of what you mean? Yeah. Yeah. Well, yeah. So it's one of those things where your cash now is not only not tied up in the IRS, which is great. Cool. But it's also not growing for you at that same time. So there may be other ways where it does not meet the need personally so much as it hinders what you're trying to do. And so I think this is where we don't get on TikTok or Instagram because everybody does it for the likes and the visibility, not for the true education often, which maybe isn't fair to say. But I would say some of those bigger, you know, bam in your face. Type of reels are for the impact, not necessarily for the education. So this is where it's like, hey, get a personal expert in your life to be like, yet this makes sense to me because you actually need a vehicle. Or, you know, like, also, like, yeah, you just have a surplus of cash right now. I'd rather you have it tied up in this, get the right off, and you will still be able to grow and scale. You know what I mean? Yeah, definitely. So, okay. So, cars are an option, but it sounds like you got to make that decision very, very wisely or it could honestly come back and bite you in the bomb. 100%. Something that you mentioned was so interesting to me as well too, right? Because here, I mean, our podcast is literally called Grow Your Wellth, right? So, you know, we're talking to the entrepreneurs who are interested in scaling their business. How can money truly be an asset in that, right? Like, and I'm talking about, like, you've got good cash flow. What do we do with that money, Emily, to help fuel our business growth? So honestly, I feel like it's hiring that CFO cash flow specialist person that can give you specific strategies that make sense for not only your industry, help you figure out what metrics to look at on a regular basis. What we do is we'll do an end-to-end customer journey and tell you anything that's not operating efficiently anywhere. You're leaking cash both, like, quite literally or cash staying on the table when you really could have it in your pocket and have them help you see where you can grow your business well because I think sometimes we are limited by our knowledge or what we've seen done before us. Bringing somebody in that can really have eyes for you to really give you, kind of stand in that gap for you to see what is truly possible is huge. The other thing is at the end of the day, investing is going to be your best bet for growing wealth in the long term. And sometimes it is just, you know, whether or not it's paying yourself and then you're investing personally or you decide to put your emergency fund for your business in a high yield seatings account that is for your business. That's another great way to do it. You can do it via a retirement option or an index fund, like that is the cool thing about this process is when you have somebody that is in your business with you. It's so helpful to know what your options are so that you're not just making decisions for today and you're actually putting your money where it can like give you that return in different ways. So I don't say tie up all your money and investing. I don't say tie up all your money and investing in experts. I think everything has its place, but I do think you get to a point where it costs you more not to invest. Absolutely. I love that, too, and especially when you think about, you know, everyone's so obsessed with passive income, it really doesn't get more passive than that. It's like you will use that money in the future or pass it down whatever that looks like, but it's a great way of having your money work smarter, not necessarily harder, right? Are you working harder for that for that return on your investment? I want to pivot also just a little bit with a little bit of the time that we have left Emily because you are a mother as well as a shoes business partner, which I think is like so remarkable that you've felt thorn advisors and your own personal brand, even while raising children, which is no small feat. And especially when you think about the family dynamics of managing a family in a household, managing a business, I mean, let's be real, they like to fight, right, they like to fight for your attention, are there smart financial strategies that you have even employed in your own life to help you be present in your business and be able to help your business grow and be present with your family and be able to, you know, be a good mother to share your little ones as well, too. Yes. I have three kids that are seven, five and four. So we're like in the thick of it right now. And the high side of this is is my business partner, Andrea and I talk about this look like a lot is that we are in the only time where you were able to be at home and be present with your children and be involved and do all of that while you're building something from home, like how lucky are we? It is hard and there is a lot of challenges for the juggle, but one free investment of like building your wealth is gratitude for this opportunity. I find myself often being like, I don't want to be resentful for what I prayed for. Like I prayed for this to be my life and now that it's a reality where I have a successful business and I'm ever present with my kids, that like I want to really value and cherish that. The other thing, very practical things that I can share with you that I did, I bought a brick, which is a device you can not be on your phone. And so my phone turns off my business email and my Slack and all of those things at 430 because that's when homework, starts and sports start and all of that. That has been a tool that has paid dividends for my presence in so many different ways because within my business, I'm not only doing podcasts here and I'm working with clients and I'm on calls, but I also have like heads down time that has to happen and I brick my phone. I brick my phone so that I'm present with the kids, but I'm also present in my business. And that little tool, I think it was like 50 bucks has just been a game changer for me. And then the other thing is investing in a support system and I think sometimes that can be really difficult when you want to be present with your kids is like you may feel guilt of outsourcing a pickup or outsourcing some play time, but I though I've had my moments and as everyone dies, I do feel like investing in whether it's a mother's helper or a mother's day out program or a pre K or anything where you can support the lifestyle at the same time as still live it, I think is huge. I have got to get that brick device. I have thought about getting another phone, like a work phone and a personal phone, my personal phone being like literally a dumb phone, you know, Layla, there's no no apps and nothing like exactly that at 4.30, like that's it, like we're done and anything that pops up, I shouldn't say anything, but those things that pop up can usually wait until the next day as well. And then getting help at home too. I would love to be able to write off a house manager if like some people in Congress could like work on this for us because you know, it's like there are some days when it's like laundry or outreach, you know, and you're like, oh, someone's got to do it. Well, and I can give you a practical solution until that day comes, which is getting an executive admin key. So you're not doing the laundry of your business anymore, that is a very key way to kind of be able to manage it all, like we're all busy, we're all distracted. There's a million things we could do. I do think sitting down and really getting real with yourself of what is priority is going to be your biggest, most important thing to do because then it tells you where you really need to get help, where you can find support, and what if something is working for you or contributing to the overwhelm and the stress, you know, absolutely, absolutely. Emily, I've learned so much from you already today. Is there anything I didn't ask you that you think is really valuable for our listeners to know whether it comes to personal and professional finances? I think the one thing if I could tell the listeners like anything, it is awareness beats anything else. And so setting a money date for yourself on your calendar, just like every other important thing that you have is on your calendar, putting that money date, you know, I call it like money Monday and I just sit down and I do anything that relates to my money. Sometimes it's reviewing my books, looking at my metrics. Other times it's like writing checks for school or like, you know, like whatever it is, but I spend that time just being aware of what's happening, whether it's looking at sales coming through in my business or anything like that because that awareness helps you do better when you don't necessarily have the capacity to do a lot. So even if doing that little is practical, do it. I love, love, love that, make a date with your money, love it. Emily, where can people find you online and get in touch with you? Sure. You can find us at Thorn Advisors on Instagram, our website Thorn is spelled T-H-O-R-N-E. And then if you are looking for me on Instagram, I am Emily V. and we're always on there just giving you short tidbits of financial advice. And Andrea and I, my business partner, we started a new podcast called Prosper and Get Paid. And we make them very practical, like, tips and tricks that you can go implement right away. They're short episodes, but there are full of, like, impactful knowledge. Thank you so much. We'll put those links in the show notes. Emily Bowie, thank you for joining me on to Grow Your Welfth. Thank you so much. Thank you so much for listening. I hope this episode deposited some useful advice and insights to help you grow your wealth. If you enjoyed today's episode, be sure to subscribe so you don't miss any future conversations. You can find more resources, episode details, and updates at GrowYourWelfthPodcast.com. And let's keep the conversation going on Instagram. Follow me at Grow Your Welfth podcast. I'd love to hear your thoughts, questions, or take away from today's show. Until next time, remember, burnout is optional. Take care and I'll see you next week.