Running a small business is pricey compared to what social media teaches you. Even as a service based company, I still have serious overhead to run my company on a yearly. A plethora of the information I am sharing below are tax write offs you can utilize when filling your taxes. If you, have not called your accountant to file your taxes please make sure to add that to your schedule. I tend to call my accountant the first week of the year and schedule my appointment for around March. In addition to that, we meet at the start of the year to talk fisical goals, taxes and more. Just as it’s important to have a relationship with your business banker, you need one with a CPA or accountant in your city.
As someone who is self employed one of the biggest things that matters is keeping all my coins. Yes, my company mission matters and all that fine stuff, but truth be told if I am not retaining money, I am losing money. You’re probably thinking what does this have to do with Aldi the grocery store. Well, earlier this year when I introduced myself to the zero budget method I had to rearrange how I was spending money and allocate it better.
So at the start of the year I decided to switch my money management over to a zero budget, I discussed this last month in Zero Budget Method Changed My Financial Outlook and Life. After getting my finances to a zero each month with my budgeting skills one thing I want to make sure to do was be a month a head with my bills. I wanted to alleviate issues of stress if something happened in my business life. I will say making sure I was a month or more ahead with my bills does not include having a savings account for emergencies.
Being on the pursuit of financial freedom is one of the best decisions I could’ve made for my life. To be really committed to understanding money, my relationship with it, getting out of debt and much more. In the last, two months I have switched my finances over to a zero budget method and lets just say my finances have improved drastically in a short period of time.
We’re continuing with our “On An Entrepreneur Budget” series. We previously discussed, Beauty Treatments On A Budget, Shopping On A Budget, and now we are adventuring into “Travel On An Entrepreneur Budget”. Traveling as a small business owner can be extremely expensive, but here is how you can save yourself and your business money.
In the middle of the month or even towards the end do you feel like you are scraping by to make ends meet? Are you living paycheck to paycheck? You are not alone in this matter, millions of American’s are living just like you. However, you can change that by doing a couple of things. It is really simple to create and live on a budget but we make it hard on ourselves.