How to Manage Cash Flow Effectively in a Post-COVID World
Episode Summary: In this episode, Alex interviews Luke Frye from TimberTax. Luke supports business owners who want to optimize their income tax situation by managing their cash flow effectively.
TimberTax 13-week Cash Flow Management Tool
TimberTax’s ideal client: TimberTax often works with marketing consultants, food bloggers, architects, and online professionals.
Problem TimberTax helps solve: Luke helps business owners answer the question, “How much will I owe in taxes?”
Typical symptoms that clients have before reaching out to TimberTax: People who are worried about taxes or owing a huge amount in taxes would benefit from reaching out to TimberTax.
Common mistakes that folks make before finding TimberTax and his solution: Luke sees plenty of people who are not willing to invest in the solution. Luke is a specialist in tax code and investing. Investing in a qualified resource will yield a much higher return than DIY.
TimberTax’s Valuable Free Action: Make sure you have all of your estimated tax payments written down somewhere where you track important dates. Have a separate savings account for your income tax. Set aside 30-40% of your net income monthly into this account.
TimberTax’s Valuable Free Resource: TimberTax offers a 13-week Cash Flow Management tool that can be done in excel or google sheets. This can help tremendously in uncertain financial times. You can find the tool here at timbertax.co/cashflow.
Free PDF: 10 Sneaky Tricks Auditors Use to Catch Businesses
Learn how sales tax audits start (and how to avoid them)