Pay The Man and KEEP The Supercar

John and I just going through our accounts this morning and it's got me thinking to share some thoughts on an unpopular topic = TAXES. 

When you work with MacroActive, you're going to begin to see more money than you're used to seeing in your bank account! 

And there is no secret shortcut around your responsibility to pay The Man. 

The best advice we can give is to squirrel away the appropriate percentage of your DAILY deposit from Stripe into a separate bank account and name it Tax. .

Don't have a debit card attached to that account either!

If you can, make it an account in a separate bank so that you can't even see the balance when you look at your regular transactional accounts. 

Set it up as a daily transaction. 

Employ someone to do it for you, so this is not a daily task you are touching. 

Why daily? Because as a new business owner, you can't help but manage your business from the bank balance. Removing the funds from your line of sight is a good rookie way of removing the temptation to wack it all on a new supercar.

This is a scenario that is common among small business owners who are experiencing high growth and new found wealth.... (We see this all the time)

Can I afford to invest $40k this month in FB / Google ads? (or) Can I afford that new supercar? . Let me see how much money is in the bank account.... (Wrong!!).

So, how should you make those decisions? By planning for it. By managing your business from a properly generated and completely reconciled Profit & Loss (P&L)Statement, CashFlow Statement and Balance Sheet. Forecast what your P&L will look like at the end of next month. Spend according to your forecast and don't vary from it. Make big purchase decisions on a quarterly basis and see what the impact of those decisions will be on your future P&L. 

Will you have enough money left over for advertising or taxes? YES? SWEET! GET THE SUPERCAR! 

NO? ....WAIT!!! Not now... have patience. You will get the car and KEEP THE CAR if you follow this advice.

The KEY TAKEAWAY here is surround yourself with financial advisors. EG. We have 4 separate advisors with financial acumen way beyond that of our own.

MacroActive? (Scaling You)