Episode 187: Effective Record Keeping, Cash Flow Management, and Building Strong Cash Reserve

13/08/2024 53 min Temporada 3 Episodio 187
Episode 187: Effective Record Keeping, Cash Flow Management, and Building Strong Cash Reserve

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Episode Synopsis

The key points covered in the meeting will be listed below: Emphasize accurate recordkeeping and documenting everything for tax purposes, using tools like MileIQ, Hurdlr, and QuickBooks. Budget extra for payroll taxes and understand the additional costs associated with hiring employees. Carefully manage cash flow by prioritizing essential business expenses and building cash reserves. Leverage financial data from P&L and balance sheets to make informed operational decisions and reduce costs. Seek expert advice from accountants to minimize taxes legally and address bookkeeping and healthcare cost challenges.

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