If you want to feel differently this time next year - NOW is the time to make some changes. Let me tell you why & how (and how this article came to be).
During an afternoon rest period, sweet Sadie was using me as her personal 'rest nest'... I was reflecting on the last few weeks and it occurred to me just how very tired I am right now so I decided to share my thoughts on a better way for us to do things this year.
If you don't feel totally great (like nothing stressful happened whatsoever) in preparing to file your taxes this year, you are going to be SO glad you hung with me on this.
I am going to save you so much work, worry & stress this time next year... and more importantly, I am going to help you learn about your finances and be in MUCH better shape the entire year ahead.
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I am going to let you in on a little secret.
I generally absolutely love helping people get their business finances in order. Get their system set up and running, get it organized. I absolutely thrive on teaching people how to use their systems, how to interpret the reports they get out of them, how to understand their finances, so they know whether they're profitable or not, so they can understand where their money is coming from and where it's going. I mean, I really, really love that because it's the foundation. I mean, if you're not in business to make money, what are you doing?
So, here's my little secret.
I am tired. I am SO so tired because I have been so busy these last few weeks helping people get their finances in order so that they can file their tax returns. And it is honestly as miserable for me as it is for you at this point because it gets so backlogged and becomes a huge project and it's just something that “has to be done” because the government says we have to file a tax return, right?
So the process is painful. We're digging back into receipts to find out what it is that we spent money on at Walmart in March of last year, and stuff like that. Digging back through our emails to find receipts and I mean, it's painful. It's just so painful.
And you know what?? That is NOT what your business finances are supposed to be about. I get why this just sucks because quite frankly, it sucks for me too. I'm in this to help you… that's my job but it is not fun when you wait until the last minute and you only are doing it because you have to file a tax return. That is not the purpose of your business finances.
The purpose of keeping track of your finances throughout the year is:
- to make sure you understand where your money is coming from
- how much money you're making & spending
- what the trends there are (are there months you make more and months you make less, for example, or months your costs are significantly higher)
- are you charging enough
- is your business' net income enough to pay yourself the salary you intend to generate for your household and personal financial goals
…you cannot know all of these things if you're not keeping track and if you don't understand your financial reports.
I WILL HELP YOU! I am not a bookkeeper. I am a systems expert and a small business finance expert. I will teach you (and your staff, if appropriate) what you need to know and I will support you as needed to make sure this doesn't fall to the wayside.
If you've worked with me at all on this already, you're already in a better place but it is something that people enjoy so little that oftentimes it just gets pushed to the backburner.
And, not only is the process of getting caught up at the end of the year painful but what is also painful sometimes - oftentimes – is when you haven't been keeping up is to look at what you actually made and say “holy crap”. I can't believe that I worked as hard as I did all year and I only made _______. (Or worse, I made nothing at all after expenses!)
I just can't tell you how often I have people come to me making little to no profit… their businesses might be making hundreds of 1000’s of dollars a year, but their profitability is little to nothing, and sometimes they're not even taking a salary. The biggest reason for this - right out of the gate is they don't know what's going on with their finances.
Once you know better - you do better. Until then you are operating in the dark.
So anyway, a little bit of a tire rant here today.
But the point of all of this is just to say if you're one of those people who waited until the last minute and you managed to get everything pulled together so you could file your tax return, and it was as miserable as you expected it to be, stop the madness. Just stop the madness!
Make an appointment with me. Let's get you set up & get you organized. Let’s get you educated about what's happening with your finances right now.
We will take a first quarter look back so you know where you are and get you ready for a whole different way of doing things this year. Let's just do it.
You're going to be so glad you did.
And you know what? I'm going to be glad you did too, because you and I will not be the ones banging our heads together this time next year just trying to get caught up.
- You'll be making money (profit!)
- You'll be setting money aside to pay your taxes
- You'll have no surprises
- You're going to be doing so much better financially
- You're going to feel in control
It's just a win all the way around. So set up an appointment.
Let's get this thing rockin' once and for all. Let's do it.
Let's not feel this way again this time next year!
Here’s a link to schedule a call so we can make a plan for you –
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~ Becky O’Neill, Author
Founder of Specialized Business Services LLC
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