Articles
When Your Profit Distribution “Isn’t Enough”
One of the best things about using the Profit First system is profit distribution time. Being the owner of the company, you get to take a profit once a quarter and use it as you wish.
But sometimes, we hear from clients that they’re not making enough profit, or that they want (or need) to be able to take more in profits every quarter.
When to Start Your Profit First Journey
And so, when I hear people talk about starting to work the Profit First system and they decide to wait until January 1 or next quarter or whenever, I want to shout at them that NOW is actually the best time to start.
It’s Time for a Summer Account Review
I don’t know what it is about summer, but it always feels like a great time to reset. It’s midway through the calendar year, things seem to move a...
Who is on Your Business Money Team?
No matter how long you’ve been in business, it’s time to pull together your team now or revisit the individuals who are supporting you.
Time for a Mid-Year Goal Review & Revamp
If you’re working to grow your business, you probably have goals that you check in on from time to time. (I hope you have goals you’re checking in on!)
One of two things might happen when you check in on your goals: You discover that you’re on track or ahead of schedule…so you sit back and rest on your laurels. Or you’re so far off from meeting your goals that you want to give up.
Managing Quarterly Profits and Taxes
Like anything in business, it’s important to talk directly to a tax professional when it comes to determining your tax liability and the business structure that’s best for you, your business, and your goals. It’s important to educate yourself about managing taxes and even reducing your tax liability throughout the year.
Planning for Quarterly Tax Payments
This is by far, the simplest system to making sure you always have enough in reserves to cover your income tax liability, no matter how much or how little you earn.
Use Your Summer Slow-Down Wisely
Prep your wellness business for the summer slow-down and turn off the stress that comes from lower revenue months. You’ll be ready for any slowdown!
How to Get Closer to Retirement
Are you on track for retirement or do you have to make a change, maybe a serious change, to how retirement is going to look?
Good Uses vs. Bad Uses of Debt: Knowing the Difference
At some point or another, most of us have had a relationship with debt. That first credit card we got in college or the mortgage to buy our current...
It’s Time to Audit Your Expenses
This is a guest blog post from Howard Polansky of Cash Flow Coach. While it’s important to raise your prices as you go because your value and...
How to Manage Tax Season as a Business Owner
Tax law is constantly changing. How do you estimate your business’s taxes? Profit First in your business will help you finally feel secure about your taxes.