The trick is to ride and make it to the bell.

:: To learn how to stay on a bronco until the 8 second bell, you have to first learn how to stay on for one. Then 2 seconds. Then 4.

The never-die attitude of a small business owner says, “if I get thrown, I will just dust myself off, and jump right back onto that saddle! Ever tried, ever failed … fail again, fail better!” 

Fail catastrophically, however, and your entrepreneurial rodeo ends for good. 

If, as a small business owner, you don’t set aside time to learn at least the elementary basics of business taxes, you will never make it to the 8 second bell. 

More likely, you will one day find yourself blindsided by your CPA informing that you owe a whopping $25,000.00 in taxes to Uncle Sam. If you never saw it coming and do not have those funds set aside, your jumping back onto the saddle days are over. 

Learn about business taxes. The rudimentary basics are all you need to semi-intelligently converse and plan with your accountant. YouTube and Google are your best friends today for this. 

No idea where to begin? A good jump-off point might be the IRS’s beginner videos on managing taxes (https://www.irsvideos.gov/virtualworkshop/, or you can just type into your search, “IRS Small Business Tax Workshop videos.”)

You will be vastly ahead of the curve of your competition just by knowing the types of taxes (income vs. self employment vs. sales taxes, etc.), knowing how to set up a working accounting system to track your income and expenses, and by setting aside money monthly or quarterly to pay the taxes you anticipate owing.

The trick is to ride and make it to the bell. Eliminate the possibilities of catastrophic failure and you will make it to the bell.

#businessgrowth #deathandtaxes #planahead #rodeolife