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

  • Aug 13 2024
  • Length: 53 mins
  • Podcast

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

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  • Summary

  • 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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Leadership Economics
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