Tag's: assets

Welcome to the basics of understanding your financial. To help you understand your financials, I'm going to use George as an example. George wants to start a real estate business. Well, how does George move towards financial freedom? Knowing your numbers could be the difference between where you are right now and where you want to go. There are six basic things you need to know to understand your financials.

Today I'm talking about... During the course of your business, you often buy things. You might go to Office Depot, Staples, Walmart, wherever you buy your office supplies from. Some items you buy are really inexpensive. For example, a pen, pencils, they cost $5, $10, $15, $20. And sometimes you buy more expensive items like computers, equipment’s you need for your business, and things of that nature. So, when you buy more expensive

The purpose of a business is to build assets that produce income. If you are really serious about building assets in your business then you will need to form a perpetual entity by incorporating. The corporation is the funnel that holds all your income producing assets. You can talk to a lawyer as they are in the best position to help you in this area. As an accountant I am