MANAGING PROFITABILITY IN A HIGH TAX ENVIRONMENT

January 17, 2021

by Jeffrey Frankhouser, MRFC, CEP

Problem: With deficits on the rise, taxes are soon to follow. There’s plenty of rumors and talk in Washington of raising taxes on small businesses. There’s plenty of rumors and talk in Washington of raising taxes on small businesses. Raising taxes isn’t the only way government can raise revenue. Increased costs can come from raising the minimum wage or reducing business expenses. What does that mean for your business and is there anything you can do to survive?

Solution: There are a number of strategies to consider.

1) Review your organizational structure and job descriptions, making sure they are relevant, concise and avoid duplication.

2) Review expenses, both business and personal, to be sure you are spending resources in needed areas.

3) What adjustments can you make that will enhance your business value?

4) What business structure is the most efficient for your operations

I am a consultant and I help business owners. I am the only exclusive Business Planning Advisor in SW Florida helping owners with cutting edge strategies.

Initially, I must admit that I don’t know if I can help your business.  With all of the new tax increases coming this year, I can show you how to reduce or avoid your taxes now before it’s too late. April 15th is just around the corner!

Remember, we help business owners sleep better at night!

Check out our business resources at: www.Covenant-Business.com

 

 

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