We are approaching the spring season. When things are becoming greener, your finances should be too. Ladies, who run businesses, this is the opportunity for you to make a financial fresh start this second quarter. Jackie shared 5 principles to help businesswomen make money work harder for them in this week’s live.
1/ Take a different approach to how you pay your income tax.
What would you say the definition of insanity is? Doing something the same all the time and expecting different results. Unfortunately, a lot of us approach to finance and tax this way. Set your intention and time to fill out your taxes early this year, you will be grateful for how easy it could be and how you can save from paying the late penalty fees.
2/ Create a system for tax-filling.
How are you keeping track of your expenses? If you do not have a system to deal with your receipts, it is now time to start investing in a system. Jackie’s recommendations are Quickbooks and Expensify. Both software services are popular for helping you manage and stay on top of your finances. If you would love to have personalized advice on how to have a system, hit us up at email@example.com to schedule a free 30-minute consultation from our team.
3/ Choose your bookkeeper carefully.
Find a bookkeeper that understands your business and knows about your industry. You should interview your bookkeeper and introduce them to the business that you are having. Doing that extra step will enable you to get more personalized advice on how to organize your information and insights on what you can deduct.
4/ Keep your accountant on top of your finances.
There are many types of consultants, including tax fillers and tax advisors. Unlike tax fillers who you only talk to twice a year to get your tax filled out and perhaps receive some advice on how to fil your tax, tax advisors will give the best advice and provide the best assistance if you communicate with them throughout a year. If you currently do not have a tax advisor, hit us up at firstname.lastname@example.org for free access to our list of tax advisors and receive a list of questions to interview your tax advisor.
5/ Make an appointment with yourself.
It is important to commit to having a date every month with yourself to catch up with your financial position. Use that date as an opportunity to look at your books, go through your bookkeeping software, check your credit card statements, contact your bookkeeper, evaluate your business’s finances,… This small habit will go a long way not only for when you fill your tax next year but also for the development of your business.
You are the only person who could give your financial peace and financial confidence. If you are ready to be potential to your finances, feel free to reach out to our team at email@example.com for our assistance.