I had a new prospect approach me this week to help him manage his tax strategies. He “feels” he is making a lot of money and is nervous about how much he will owe in taxes. A perfect client for me! I am super excited to roll up my sleeves, jump in and set him on a course to massive success untill, I open his Quickbooks. My heart sinks. A mess. Nothing matches. Nothing reconciled. No money trail. I cannot do my work. I cannot be effective.
So, deep breath, time to deliver the news. I call the prospect and explain to him how I need complete and accurate records in order to do my work and by just eyeballing the numbers floating around in Quickbooks, it appears to me as though he is barely profitable. There is just as much money going out as coming in. We have a LOT fo work to do!
Step 1, clean up recordskeeping. I cannot stress how important this is for business management and income tax purposes. You simply cannot build an empire without records. If you need help, hire help. get a professional set of eyes and hands on your business and your numbers. I guarantee you that this investment will pay off 10 x in both business decisions and tax savings. Guaranteed!
If you need help with recordkeeping and or any part of the business management cycle, please reach out to me and I will connect you with a team to make it happen.
For those of you wanting 1 on 1 Intensive time with me, I have several days still available Mid May. Lets get you profitable!