There are three essential areas of focus in a successful business: operations, sales, and financials. For the purpose of this discussion, let’s assume you have a well-run operation and are doing as good a job as possible to maintain or increase sales. For most businesses, the easiest and most fun parts of the business are running it and having lots of happy and repeat customers.
Financial optimization or improvement isn’t quite as much fun or as sexy, but you cannot survive very long with an unprofitable business. The formula for any successful and healthy business is to continue to grow profits and improve balance sheet strength. The normal way to sustain success is by increasing sales and controlling costs (or even better yet, reducing them). Business 101, right?
Where in all of this wisdom are actions taken to reduce taxes? Did our business education or experience include information on reducing taxes? Mine didn’t. So, where might we get the education – and suggestions on what tax credits are available and how to get them? Read on…
