K9 Bookkeeping

The best way to handle your tax refund?? Like this! ?? 50% towards your priority goal 20% to savings 15% to get ahead on bills/ sinking funds 15% to have fun with! Here's the thing... If you're getting a solid chunk of money back, it's so easy to mindlessly spend it on things that aren't worth your while. Make sure to have a SOLID plan ahead of time to keep yourself on track! So, do yourself a favor, ?? save this post, and use it as a quick an effective guide for when all that cash comes in. And remember, good things come to those who... use their tax refunds WISELY! ??

The most UNDERRATED money tips!!?? ?? 1. Automate everything. 2. Start invest now (even if it's only a small amount) 3. Check your bank account regularly 4. Focus on earning more & spending less 5. Celebrate progress, not perfection. Because here's the TRUTH about money... Your small wins add up! It's NOT about winning the lottery, it's about staying consistent in those small habits. Because at the end of the day, it doesn't matter how much money you earn, it matters how you manage it!

When looking at your Profit & Loss statement, do you focus on NUMBERS or PERCENTAGES?? It's time to start focusing on percentages. Why? Well, here's the thing... Is it a good idea to spend $1,000/month on office space? It may be a great idea for a business making $20,000/month, but makes no sense for a business making $6,000/month. Why? It's all about the percentages! What percentage of what's coming in is being used on expenses? Now THAT'S the secret to business success!??

Ever made a purchase that you regretted 5 minutes after getting home????♂???♀? Here is undeniably THE EASIEST way to stay away from annoying impulsive purchases... Simply wait 24 hours BEFORE buying anything that isn't essential. Ok yes, it may be a bit of a struggle especially in the beginning. But it'll save you from so much unnecessary headache and wasted money - you won't regret doing it!

Let's be honest... If you want things to BE different, you gotta THINK different. If you want to see major GROWTH in your business, it's time to start THINKING bigger! Why? The way you think = the way you act = big change in your business! Stop only focusing on: "X cash months" "X in sales" "X in new clients" Start looking at: - Cost per employee. - Profit margin by offer. - Budget to actual variances. Graduate from elementary thinking and start thinking BIG!

Feeling tapped out? Totally overwhelmed in your business???? Then it's probably time to hire... ?? But wait!! BEFORE hiring, leverage your time by investing in software FIRST, then people. Otherwise your employee will inherit that same overwhelm your trudging through right now. Invest in systems that automate your processes and organize your tasks. It's the only way to effectively scale!

If you don't do ANYTHING else for your business's finances... Do this ?? ?? Invest in a bookkeeping system and use it! ?? Designate a block of time every month to get your books done ?? Find a system to help document your receipts ?? Open a business checking account for ALL business transactions. (Keep personal expenses out!) Just because you don't have all day to work on your business's books, doesn't mean calling complete quits;) Stay on top of these 4 quick & effective practices, and you'll be good to go!

Are business credit card payments deductible?? THIS is where so many people get confused ?? Business credit card PAYMENTS are NOT deductible. ?? It's simply a transfer of cash. However, the EXPENSES that are on that card ARE deductible. In fact, those deductions can be claimed as soon as the card is charged (even BEFORE it's been paid off!) Remember this distinction, it'll serve you well;)

We work with million dollar businesses, here are financial habits we see every one of them following ?? 1. They have a cash reserve in their business checking account, allowing them to make smarter financial decisions. You know that old saying, "Don't make decisions based on emotions"? A business without a cash reserve is emotional. 2. They aren't paying interest on debt. Yes, there are times to leverage debt, but overall, our highest earners put all expenses on credit cards and fully pay it off every month. Be smart with your debt, have a plan to pay it off, don't let it accumulate! Follow these 2 tips and watch your profits increase??

Are you tired of stressing out about how to pay for taxes when they're due? Or not being able to consistently pay yourself? Or moving money from your personal account to your business account in order to invest or pay contractors?? Let's talk about bank accounts that your business probably already has, VS. the bank accounts that your business NEEDS?? Most likely, your business already has a: ?business checking account ?business savings account But that's not enough, your business also needs the following accounts: ?operating expenses ?owners pay ?tax savings ?business savings ?(Optional: assistant fees) ?(Optional: product (COGS) Creating purpose specific buckets and dividing your ?? between those accounts, allows you to set aside the necessary funds, which means... No more frazzled tax seasons or stressful paydays!!