A Story to Grow From: But I have a Limited Liability Corporation
It was a fine summer Monday, and Randy was feeling good that his business was finally getting requests for new jobs, more in line with business before the downturn.
He knew what a struggle it had been to stay afloat through the last two years. He felt that he would soon be able to catch up on his past due bills to suppliers. Too much brain damage dealing with constant collection calls and no money to satisfy them.
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.
Tax Planning Workbook - 2021 and Beyond
This workbook is a hands on process. Our intent is to show you the process of producing a tax plan for your business.
Tax Planning is to make you aware of:
- Some of the many tactics allowed by tax law.
- Ways you can maneuver business activities to bring taxes down both business and personal.
- The process of developing a tax plan.
Getting started:
You will need your business’ financial statements year to date. These statements then need to be projected to the end of this calendar year.
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