Profit First is an amazing cash flow management system. Some owners are fine using a simple spreadsheet. Whatever works for you is great. There is one constant that causes major stress for almost all business owners... taxes! Whichever system you use to manage your finances, the bare minimum thing you should do that will save stress and minimize cash flow issues, is to open a separate Tax Account. This is simply a separate bank account from your normal business account where you will only put money in it for the purpose of saving to pay taxes.
If you do nothing else, open a Tax Account.Incite Tax
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