I’ll bet you have asked your accountant the same thing: “Isn’t there some way I can reduce my taxes?” About five years ago, a lightbulb went on after I met someone who was speaking at the same event. That individual spoke to contractors for two full hours about increasing deductions, taking money out as dividends and rent, and other tips.
One of the most
misunderstood terms in the entire trades industry is the word “growth.” The
problem lies in the fact that most business owners mentally see a direct
relationship between growth and profitability.
What should we charge per hour? How should my
financial statement be set up? Why does my P&L show a profit but there is
no money in my checkbook? What do we need to do to increase profitability?
Consider installing a professional on-hold
system. You can get the equipment, have the content professionally written and
recorded, and have the music of your choice in the background for about $450 a
year.
The law of money, simply stated, says “Any significant sized budget (personal or business) will absorb every dollar put in it.” But the bottom line is we spend what we have available. Are you tired of working hard but having nothing to show for it other than a weekly salary?