A Business Owner’s Greatest Expense

What is your greatest expense, as a business owner?

The answer I receive from owners like you usually refer to the costs of labor, raw materials or even inventory. But in fact, your greatest expenses are actually Taxes!

Your business deals with ongoing income and sales tax, of course. And when you eventually exit your business, you’ll be facing capital gains tax and some very successful business owners also have to pay estate taxes.

But all of these taxes – income, capital gains and estate – are all success taxes and they are all voluntary. They are successful because the better your business does, the more you will ‘get’ to spend on taxes and they are voluntary because, with reasonable planning, they can be avoided.

Whether you are currently planning to retire and create a succession plan for your business, or whether that event is many years in the future, Covenant Consulting Group wants to help you keep the fruits of your success where they belong – with you and in your business. Schedule your free consultation with us to learn more about minimizing your business’s greatest expense.