Home Forums Heavens Best Forum Tip Of The Day Tax & Investment account

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    hbottumwa
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    My fellow operators,
    Like Dave Ramsey, I really dislike taxes, but I hate unfunded taxes even more. So,many years ago, I opened a “business tax saving account” and have deposited 10% of all my deposits in it. This is before expenses are taken out. Only once have I had some “unfunded taxes” but in a very manageable situation. After doing this for years, I talked myself into doing 20% deposits into savings. Then it became my “funded tax account” and my “investment savings account”. This has worked well to fund equipment as it became time to do so. My most resent van was purchased with cash out of this account. (The van that went to the Des Moines, IA and Portland, OR seminars.) (You pay less when paying with cash, when buying used.) This tip has served me very well.

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