To kickoff 2020 the right way, we are going to start with a quick discussion about keeping your books up-to-date. Accurate, up-to-date books provide us with a lot of information about our business.
- They enable us to look at our collections and determine how we can grow that number.
- We can measure our expenses and figure out where we can increase spending and where we should cut back.
- It provides us with an accurate reading of our net profit so we can figure out how to keep more of what we make.
- It allows us to form a better analysis so we can grow faster and make better decisions.
- We can do more effective long term tax planning.
Keeping good books plays a significant role in your ability to make decisions as a business owner and lower your tax liability. There’s no time like today to start working towards that. And if you can’t do it yourself, have a trusted member of your team take the reins, or outsource it to a local professional. Please visit me at www.theprogressivedentist.com for more informative, money-saving podcast episodes like this one.