Every Reseller at some point comes to the realization that they need to pay taxes on their profits.
And I can remember the nightmare that was my first year as an Entrepreneur all too well. I made a decent amount of money….foolishly spent a lot of it….and then got hit with a large tax bill come tax season.
And I DID NOT have the money to pay my taxes at that point so I panicked.
I would not wish this rude awakening on my worst enemy, let alone someone who follows me.
Now that I’m a few years into my journey, I have everything down perfectly. Yet, I still see others making these very same mistakes…and the worst part about it is they don’t even know they’re making them until it’s too late.
The last thing you want is to think your business is succeeding because you’re making money, only to realize that you're not nearly as profitable as you think.....or worse, receive that dreaded letter in the mail from the IRS. I know this feeling all too well.
So, what’s the point of this story? By understanding how the taxes you’re expected to pay as a Reseller relate to your business, you’ll be able to make more money….and KEEP more of the money you’ve worked hard for.
I get asked tax questions all the time, but because I’m not an Accountant, I can’t legally give any tax advice.
So logically, I set out to find THE BEST person to teach you how to make more money & keep more money with your Reselling Business.
This entire section will cover how to keep more net profit in your business. We'll cover things like forming a business, managing profit and loss, tax liability, etc...