Taxes and expenses as a business owner…

When you first start out as a freelancer or solopreneur, bringing in revenue is awesome and exhilarating because it’s almost all profit.

This means that most of it goes straight into your bank account. You’re so excited: “Look at me—I’m making six figures!”

Of course, when you start to make multiples of six figures, you’ll need to hire a team and start paying for different things that add up really fast: payroll, insurance, business-related expenses, travel.

Suddenly you’ll realize that revenue is not the same thing as profit. Nor should it
be, if a company really, truly wants to grow.

When you hear business owners talking about awe- some revenue numbers, remember that they are working with experts to manage their finances.

It’s not like that money is going straight in their pocket; most of it is going back into the company or to pay for expenses.

^^^^ Excerpt from my USA Today Best-Selling book, Unfiltered!

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