Money Tree Investing25 Okt 2024

How the Profit First System Will Transform Your Taxes

Today I'm joined by my good friend, The Tax Goddess to discuss the Profit First system. Shauna Wekherlien's background in helping people legally minimize taxes and maximize savings and focuses on the Profit First system, a financial management approach for businesses and individuals. We explain how this system promotes discipline by prioritizing profit before expenses. Shauna also shares strategies to reduce tax bills legally. Today we discuss...

Shauna Wekherlein shares her work as a tax strategist, helping people manage money and keep it away from the government legally.
The Profit First system is a simple financial framework for both businesses and individuals.
Shauna explains the process of setting aside a percentage of revenue for profit before paying expenses.
Profit First encourages using multiple bank accounts to separate funds for profit, taxes, and other expenses.
Kirk shares his positive experience with the Profit First system, calling it life-changing.
How the system is customizable, allowing users to start small and increase their profit percentage over time.
Shauna emphasizes the importance of having a separate bank account for taxes.
The value of financial strategies to reduce tax bills while still ensuring funds are available for payments.
Shauna highlights how business owners and individuals can use the Profit First method to achieve personal and financial goals.
The conversation covers common financial challenges like lifestyle inflation and debt, and how Profit First can help avoid them.

For more information, visit the show notes at https://moneytreepodcast.com/the-profit-first-system-shauna-wekherlien-654

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Barbara Friedberg | Barbara Friedberg Personal Finance
Megan Gorman | The Wealth Intersection

Follow on Facebook: https://www.facebook.com/moneytreepodcast

Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast

Follow on Twitter/X: https://x.com/MTIPodcast

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(837)

Boss Lady Investing

Krista Goodrich of Boss Lady Investing joins the show to share her journey from working in the mutual fund industry on Wall Street to building a diversified portfolio of more than 20 private businesse...

17 Juli 1h 22min

The Stock Market Is Showing Interesting Signals To Observers

The stock market is showing interesting signals and today we discuss the latest market developments. Renewed geopolitical tensions are driving investors back into large technology and AI stocks while ...

15 Juli 49min

Considering a Life Switch?

Are you considering a life switch? Today financial advisor, author, and sports team investor Joel Steele joins us to discuss his unconventional journey from failed entrepreneur to successful wealth ma...

10 Juli 1h

Market Signals for The 2nd Half of 2026

Today we talk market signals for the 2nd half of the 2026 following the Independence Day holiday. We highlight how semiconductor stocks and AI continue to heavily influence market performance while si...

8 Juli 55min

Investing in Companies Pre-IPO

Christine Healey explores the rapidly growing world of investing in companies pre-IPOs and how everyday investors are gaining access to private companies like SpaceX, OpenAI, Stripe, and Anthropic bef...

3 Juli 58min

Q2 2026 Market Updates

Kirk shares the Q2 2026 market updates and the market's recent sector rotation as technology stocks pause after leading gains for much of the year. Healthcare, utilities, and other sectors begin to ta...

1 Juli 37min

Investing In Mortgages 101 with Michael Youngblood

Michael Youngblood joined the show to discuss investing in mortgages with the evolution of the U.S. mortgage market. He draws on more than four decades of experience in mortgage banking, securitizatio...

26 Juni 1h 5min

Investing Recommendation...Patience and Caution

We have an investing recommendation for you: patience and caution! We discussed current market conditions and why markets have largely moved sideways despite strong gains earlier in the year. We exami...

24 Juni 45min