The Money Pump
This money pump represents the way you generate cash for your personal use. If you are an employee the outflow from the pump represents the cash generated for your employer from your efforts.
Your share is mostly represented as your wage. If the pump represents your business the outflow is the gross cash generated by the operations of the business.
A Story to Grow From: The Business Killed by a $27,000 Penalty
Ryan was deep in thought about what he was going to do now that his business was killed by the IRS penalty. Why had he not paid attention to his tax adviser when he told him about the tax law change about the medical reimbursement plan?
Tax Planning Overview: Taxes Are Negotiated – Not "Fixed"
Effective Tax Negotiations Requirements
Tax is an expensive cost in our business and personal lives. Tax negotiations require an understanding of tax laws and rules. The most effective negotiations require pre-planning of financial actions and proper deal structures.
Business Help Resources
- Can You Use Independent Contractors?
- Doing Business in the 21st Century Electronic World
- How to Get Up and Running
- Notice to LLC Owners
- Ten Essential Business Functional Areas
- The Money Pump
- Understanding Risk Management
- What You Need to Know Before Starting a Business
- What You Need to Know When Your Business Needs Workers