In this introductory episode, Todd Butzer challenges you to take an assessment of your businesses financials and outlines the challenges that messy financials can bring to your business.
Business Financial Assessment Questions:
(02:52) What is your business entity?
(03:30) Do you track your income and expenses?
(3:51) Do you have a bookkeeper to help you track expenses?
(04:32) Do you maintain separate accounts for your business revenue and expenses?
(04:45) Do you review your finances monthly?
(05:16) How would you rate the overall accuracy of your financial record keeping?
(05:31) Do you operate from a budget?
(6:02) Are you current with your taxes?
(7:23) Are you taking advantage of every possible legal deduction that you can to offset your tax liability?
(7:59) Do you have 3-6 months of CASH reserves?
(8:45) Does your business have short/long term debt? Do YOU have personal debt?
(9:32) Do you pay yourself regularly?
(9:52) Are you taking advantage of self-employment retirement plans?
(10:23) On a scale from 1-10, how would you rate the overall condition of your business finances?
Next week, Todd will take a look at some of the most common myths around money financials. Subscribe to stay tuned for more real-time financial strategies that will improve your business!
If you are an agent that is getting their money right and would like to be featured on the show, please email getthemoneyright.podcast@gmail.com
Show Links:
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Credits:
Hosted by: Todd Butzer
Produced by: Joe Rodriguez
Disclaimer:
All opinions of the writers and speakers are their own and do not constitute financial advice in any way whatsoever. Nothing published by Get The Money Right constitutes an investment recommendation or financial advice, nor should any data or content published by Get The Money Right be relied upon for any investment or financial planning activities.
Get The Money Right strongly recommends that you perform your own independent research and/or speak with a qualified professional/advisor before making any financial decisions.
