Sooner or later, the circumstance of growing your business will lead you to consider engaging a higher-level accountant. When you find yourself in this position, you begin to wonder, what type of financial guidance would benefit my business and is now the right time to hire a full-time accountant.
The good news is that you are in the perfect position for a Virtual CFO to help you scale your company to the next level for a fraction of the cost of an in-house accountant.
I am often asked by business owners how should they pay themselves as a business owner. How often should they pay themselves and how will it effect their business and personal taxes. Business owners are often confused on which business structure will benefit them the most, a limited liability company or S-corporation.
In this video, I provide clarity to the CEO salary and corresponding tax liabilities challenges. I have also provided strategies on the correct methods in which you are to pay yourself as a business owner under either structure.
Have you paid or will you pay more than $7,000 in federal taxes this year? It is true that over the last two years, Amazon paid zero dollars in federal taxes. (I bet it's odd to think that you as a multi-six-figure business owner paid more federal taxes than Amazon, a company valued at $800 billion, right?)
Building a business that generates more revenue, cash flow, and profits while reducing it's tax liabilities is critical to achieving success and longevity. Like many large businesses, Amazon reduces its effective tax rate each year by...
Cash is your business's superpower. It is the movement of money in and out of your business at any given period.
Tracking the movement of cash flow is the most critical metric in business. Without enough cash flow, you will be unable to complete the daily operations of the business and expand the company. Many business owners make the mistake...
Does this sound familiar?
Your business has been growing rapidly over the last years, and you are in need of high-level financial support. You are earning multiple six- even seven-figures, however, you often have difficulties managing your cash flow.
Perhaps, your current financial team (possibly a bookkeeper) is not providing the help you need or desire. Maybe your accounting system is never...
The role of a Virtual CFO is to be a forward-thinking strategist whose primary purpose is to provide strategic insight to help you move the needle forward in business.
A Virtual CFO is best suited for growth-minded business owners who are ready to scale their business faster and smarter. A Virtual CFO helps to provide financial intelligence that will increase cash flow, boost profit margins and streamline business growth.
As the CEO of a six-figure business, have you ever reviewed your Profit & Loss Report and realized that the company generated a Net Profit for a particular period? Your initially reaction is one of happiness and pride, right?
However, you log into your bank account and your reaction is one of shock and frustration because your cash balance is must lower then your Net Profit? How could this be?
Now that you are a multi-six-figure business owner, I'm sure you are wondering how to maintain that level of success in an effortless way. The goal is to work less while earning more. I am a true believer that building a million-dollar business should be fun, easy and exciting.
In this video, I am providing you an old age strategy with a Say Yes To Profits twist that has enabled my clients to grow between 50% and 250%. The focus behind this video was to help you build a system that you can rinse and repeat while working less and earning more. Take a look...
Is it time to scale the business by adding a full-time employee? Are you afraid of the financial responsibility but excited to have someone dedicated to helping you scale the company? Hiring a new full-time employee can be scary IF you are not clear about the true financial health of the company.
In this video, I identify a simple but effective formula you can use to help determine if your company can remain profitable and cash flow positive as you begin to add new full-time employees.