When it comes time to file your taxes, there is always that inevitable feeling that comes with it. Just about every adult should know that feeling, the feeling that you’re missing out on money. It’s sitting there for the taking but unless you’re an accountant, you just don’t know how to get it. Worry not good people. Logan is sitting down with his CPA and bookkeeper, Edin, to talk about different tax breaks that will allow you to extract money out of your business. Knowing your numbers is of vital importance in order to have a fruitful business. Take a listen to make sure that you can set yourself to kill it in 2020.
In this episode, we talk about…
- Growing your top line and your business in a productive way
- Why most things are not considered deductions
- Edin’s background from Bosnia to accounting in the US
- The vital importance of knowing your numbers as a business owner
- Tracking what time is tax-deductible and what time isn’t
- Using the Augusta rule when holding meetings at different locations
- Defining a tax credit vs. a tax-deductible
- Depreciation changes with the new tax law
- Having no cash but a PNL that is positive
- What happens with your money and debt after you die
- Staying proactive instead of reactive for 2020
Links to resources:
Get ahold of Edin via telephone: 1 (704) 266-3738
Edin’s website: edincuskovic.com
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