When starting a new business, an entrepreneur may be told that it could take three to five years to show a profit. While that may be true, it certainly isn’t something that the IRS will necessarily accept when it comes to filing a tax return.
If you have a business loan with the bank, chances are you gave them a personal financial statement. Did you ever consider tying this exercise into your financial goals? If it’s important for the bank to know, maybe it’s important for you to know. After you get your tax return done, is a great time to evaluate your progress toward building your personal net worth.
Before I graduated from high school, I knew I wanted to be a CPA. I know it is not for everyone, but it came easy to me and was one of the highest paid professions for women. It kept me off the streets. Later in my career, that choice grew into a personal life mission.
Life throws many things in the way, situations that bring me frustration, anger and disappointment. Situations such as:
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