Today I'm joined by my good friend, The Tax Goddess to discuss the Profit First system. Shauna Wekherlien's background in helping people legally minimize taxes and maximize savings and focuses on the Profit First system, a financial management approach for businesses and individuals. We explain how this system promotes discipline by prioritizing profit before expenses. Shauna also shares strategies to reduce tax bills legally. Today we discuss...
- Shauna Wekherlein shares her work as a tax strategist, helping people manage money and keep it away from the government legally.
- The Profit First system is a simple financial framework for both businesses and individuals.
- Shauna explains the process of setting aside a percentage of revenue for profit before paying expenses.
- Profit First encourages using multiple bank accounts to separate funds for profit, taxes, and other expenses.
- Kirk shares his positive experience with the Profit First system, calling it life-changing.
- How the system is customizable, allowing users to start small and increase their profit percentage over time.
- Shauna emphasizes the importance of having a separate bank account for taxes.
- The value of financial strategies to reduce tax bills while still ensuring funds are available for payments.
- Shauna highlights how business owners and individuals can use the Profit First method to achieve personal and financial goals.
- The conversation covers common financial challenges like lifestyle inflation and debt, and how Profit First can help avoid them.
For more information, visit the show notes at https://moneytreepodcast.com/the-profit-first-system-shauna-wekherlien-654
Today's Panelists:
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