by Eric Johnson | Oct 12, 2021 | Profit First, Taxes
While income tax filings have an annual deadline, the management of your taxes is ongoing, especially as business owners. The key to managing your taxes is Proactive Tax Planning. This can mean many things to business owners, depending on the size and complexity...
by Eric Johnson | Aug 10, 2021 | OpEx, Profit, Profit First
Who doesn’t want a more profitable business? We’re in business to help people, sure, but we’re also here to make a living. And if we want to make a good living with a business, we need to be profitable. Generally, there are two ways to increase your profit: Increase...
by Eric Johnson | May 25, 2021 | Profit First
There are several common Profit First mistake that a business owner can make while implementing the Profit First system into their business. And chief among them: not following the instructions to a “T.” A bit about me: My wife loves it when I cook (which I could do...
by Eric Johnson | Apr 27, 2021 | Profit First, Taxes
Projecting your tax liability can be very tricky. First, the tax law is constantly changing, which can cause your tax liability to change, even if all other factors remain the same. Also, the final tax bill that business owners receive often includes income from...
by Eric Johnson | Mar 23, 2021 | Taxes
One of the beautiful things about the Profit First model is always having enough in reserves to pay your taxes. But what happens when tax time rolls around and there’s simply not enough cash to pay all of the taxes? Get Clear On Your Numbers First, you need to know:...
