How much are you leaving on the table? Improving your business's after-tax financial efficiency
from By David B. Mandell, JD, MBA, and Carole Foos, CPA
Most small-business owners strive to achieve two goals in their business — to “do good,” by providing a quality product to customers or clients; and to “do well” in terms of financial rewards. Unfortunately, as to the second goal, many small-business owners do not operate their businesses with optimal after-tax efficiency. In fact, we often see businesses of all types leaving tens of thousands of dollars "on the table" each year — which can equate to nearly $1 million of lost wealth over a career for an executive or owner. The good news is that many of you reading this can likely improve your post-tax bottom line in a number of ways and this article provides small-business owners a number of ideas to make such improvements in 2013.
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