(#364) What Paying the $12,000 Taught Me in Business
Have you ever faced a hefty tax liability from your business?
In this candid Abundance Series, I share the valuable lessons learned over my 11 years in private practice. Join me in my sixth episode as I share what led me to pay a substantial $12K in taxes from my coaching and mental health business. We'll dive into the importance of understanding why and when you should incorporate your business. We'll also tap into why you should regularly connect with your tax person to assess your financial progress.
---
Get weekly business affirmations by texting āABUNDANCEā to (310) 388-8603
Timestamps:
- (03:22) Intro
- (10:11) Why I paid worth 12K in taxes from my coaching and mental health business
- (15:16) Three lessons learned on paying the 12K
Standout Quotes:
- (15:28) "At minimum, meet..., chat, or email your tax person every quarter.... If you have a bookkeeper, they should be able to run a profit and loss statement; but you don't just want to look at it as a month by itselfā you want to be able to look at month-to-month, quarter-to-quarter, and also likeā¦, compare to where you were last year to see if you're actually growing, andā¦ what your goal is at the end of the year."
Resources Mentioned:
- Get the latest updates to Doctor TKās events at https://www.doctortk.com/links/
Connect:
Find | Doctor TK
On Instagram: instagram.com/doctortkpsych
On Facebook: facebook.com/DoctorTKPsych
On Pinterest: pinterest.com/DoctorTKPsych
On Youtube: youtube.com/c/DoctorTK
SUBSCRIBE & RATE
On Spotify
ABUNDANT RESOURCES