February 18, 2014 Abundance, Accounting

Is This You?

Is this you?

You may have been seeing on TV that Americans have over a billion dollars in tax money they have not claimed!  What could you do with your share?  Take a vacation?  If you are in an area where you are getting more snow than usual, think about a sunny warm beach somewhere right about now 🙂

The truth is, you must be in the driver’s seat when it comes to your money.  One of the best resources I use is Sandy Botkin’s book “Lower Your Taxes Big Time”.  If you are tired of being told to just pay taxes without any strategy, the you should pick up this book.

There are 2 tax systems in the USA (most countries)

  • Earn – Tax – Spend = a system designed to take your wealth
  • Earn – Spend – Tax = a system designed to create economic growth

If you are self employed then you are in the second system.  It is the best tax shelter available today!  With the economic changes we have experienced lately, there are even more reasons to becoming your own employer not the least of which is tax savings.

Run your business like a business – not a hobby.  What do I mean by running your business as a business – it’s the presumption of profit .  After all we are in business to make money and if this is not your experience then you may want to look at  how you relate to money.

Do  you have plans and projections for revenues and expenses with the intent of profit even though you may not be hitting the mark yet?  Do you have a separate business bank account, and a bookkeeping system with true reporting such as a Profit & Loss and Balance Sheet?  Are you continually work with mentors who suggest ways to make a profit?  Do you have a marketing plan? As the CEO of your business these are the questions you want to be answering.

These are the conversations that I love to have with people so if you are looking for that person you can really talk to about these things contact me and lets see if we are a good fit!

In Abundance,

Sue Thompson
Financial Management Expert



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