Getting the best financial advice possible
Posted on December 23, 2019 by Joseph Petraglia, One of Thousands of Business Coaches on Noomii.
The importance of starting a business with the best financial advice possible
Getting good financial Advice
Current United States Budget Compared to your Company Budget
US Tax Revenue: $3,645,000,000,000. ($3.645 trillion dollars)
Federal Budget: $4,746,000,000,000.
New Debt: $1,101,000,000,000.
National Debt: $18,500,000,000,000.
Recent Budget Cut: $38,500,000,000.
Now remove 6 zeros and pretend it’s your Company Budget:
Annual Revenue: $364,500.
Annual Expenses: $474,600.
Profit & Loss Statement: $110,100. (loss)
Balance on your Credit Line: $18,550,000.
Having a +$18.5 million dollar balance on your credit line would be disastrous, and a
non-starter.
When looking for financial advise about your business or setting up a projected cash flow analysis, make sure you seek the advise of a qualified professional. A bookkeeper, a friend in business? No. Contact an accountant with the designate of CPA (Certified Public Account). You will be assured of receiving the best possible advice regarding your company’s financial needs, including current and future tax implications.
