02/03/2022
**Unpopular Opinion**
Paying Taxes is better than losing money year after year from over spending…
Yikes.🥺
Some of you have gotten some cocktail advice on how to handle your tax burden.
That might look something like “Just spend more money”
…Runs to the nearest Best Buy by December 31st…
To buy more lap tops you didn’t really need.
Now, IF you are in a scenario where you absolutely DO need something in your company… You should buy it.
But buying and spending for the sake of decreasing your tax burden is for amatuer hour.
3 Reasons:
Spending 100 Dollars to save 40 Dollars… well it's not great business practice.
You are distorting your Net Income & Business Financials - which you will want to be accurate if you ever plan to exit your business, bring on a partner, or potential investors.
Cash is KING - the More capital reserves you can keep in your business the more likely it can survive any future storms.
Now if you are not quite there yet - but taking this pretty seriously you already know…
Winners never WIN by trying to Cheat the system.
There are hundreds of strategies that can help you decrease your tax burden in ways that don’t require going on and unloading your bank account.
Ways that Value Profitability
My clients are in business to MAKE money, Not Spend it all.
They value strategies that uncover
Where they are overspending
Where they could be more profitable
And how to make a bigger impact with their business!
If you got value from this comment below and share with a business minded friend.