By Courtney Epps
More Relaxing, Less Taxing
Why You Would Be Brain Dead Not to Own a Business
“It only matters how much you keep, not what you make so therefore you must do everything you can legally, morally, and ethically to combat taxes and expenses of your business, or you will be giving away your business”
As an owner of a privately held company, you are constantly faced with challenges: optimizing cash flow, maximizing profitability, accelerating growth, and planning your exit strategies. Fractional CFO’s partner with you to develop a game plan for the myriad of strategic, financial, and business challenges you face. Because a Fractional CFO is outside of your business looking in, they tend to see things and issues that would not have otherwise been caught. Provide the expertise needed to perform critical financial officer duties on a consulting or part-time basis. Fractional CFOs carefully listen to your goals, aspirations, challenges, and frustrations and help fix the problems. They are a partner in a sense.
Learn How To…
Most self-employed people, even when using a good accountant, overpay on average of $25k or more per year per $500k in sales. This could be from overpayment of taxes, overpaying expenses, or collections in Accounts Receivable. This is a huge amount of money for a small business to medium sized-business. If you add that up over 10 years, that’s over 250k that could have been used to put back into your business or even to pay off on a mortgage, put into a retirement account, or pay for college for your kids.
Last chapter by Sam Caster, President and Founder of Manna Relief, on Social Giving
Uncover in these pages
- How much are your accountant/ bookkeeper really costing you and why a Fractional CFO is crucial.
- What deductions that are crucial to your business that your accountant/bookkeeper may be missing.
- How to make your business more profitable without increasing sales.
- How the new tax code of 2018 affects you and how to get the most out of it.
- What to do when you owe money to the IRS.
- We are going to show you in this book why most self-employed people are giving away an extra $10-20k to the IRS and how you can get every deduction that you are legally entitled to receive.
- We are also going to share with you why everyone should have a business whether home- based or traditional in today’s economy. This will help you with massive tax savings.
- We are going to share with you how you can legally pay for your kid’s college, wedding, etc through your business – tax free.
- We will share with you the IRS approved “Healthcare Refund” that you have never heard about. This has been in the tax code for over 60 years and can save you an average of $4k per year for those that qualify.
- We will share with you how you can write off your fun including meals, entertainment, and travel. Also, how to double your deductions for these with the IRS blessings. We will also discuss a way to write off almost any meal.
- We will share with you how to get through an audit.
- The trick to write-off your equipment twice (cars, computers, furniture, and more!)
- Why you are wasting an extra $3-5k in taxes by not writing off your home office use and why your CPA has not told you?
- And extra ways to squeeze a ton of money out of your tax return legally.
Author, Fractional CFO and Accountant
Courtney is a Fractional CFO to a dozen small to medium sized companies, and owns a full-service accounting firm. She has owned her own practice for sixteen years. Her experience is in public and cost accounting providing clients with tax preparation, tax planning, income tax accounting, and consulting services to better run a business. With years of experience, she has developed advanced technical skills in a wide variety of tax and accounting areas and has served clients from startup businesses to multi-million-dollar companies. Courtney has worked with companies that span across a range of industries and sizes. She has developed a broad expertise of industries including trucking, doctor’s offices, real estate, construction, convention companies, and others, as well as home-based and network marketing businesses.
“As taxes can take up as much as 50% of your income, tax planning is one of the most important investments that you can make with your business.”