Profits

What Should You Do with Excess Profits?

What Should You Do with Excess Profits

What should you do with excess profits? It’s a great problem to have but it can also be difficult to navigate. Imagine your business is pushing out excess profits (business owners often dream of such times). What should you do now that you find yourself with a robust bottom line? Here’s 3 Suggestions for What Should You Do with Excess Profits 1. Place one-third aside for your owners or shareholders as a return on their investment. Make sure you include yourself in order to establish personal financial independence and stability. 2. Keep one-third with the company for future investment. Make sure you properly capitalize the business areas that need attention and will produce results. 3. Put the last third into an employee profit sharing pool. Your people are your greatest […]

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Revealing the Treasures in Your Accounting Records

Every business owner has access to a treasure chest that many are afraid to open.  Occasionally, their accountant shows up, opens the chest and tells you how much to send to the IRS…followed by an invoice for their work.  You may never even look at the paper work, the system or the checkbook…you’re focused on keeping your business busy and your clients happy.

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