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As tax codes grow increasingly complex, Erica suggests a more comprehensive approach for business owners to assess their true financial health.

She explains a metric she created called Total Owner Benefit and describes how it can be used to discover the full range of financial benefits derived from owning a business. These include factors traditionally excluded from profit calculations such as owner salary, health costs, and retirement contributions. 

Discover why Total Owner Benefit is important to business owners,  how it differs from plain profit, how it can influence tax liabilities and more!

 

Related Episodes:

• Ep69 - SEP vs Solo 401(k) with Sean Mullaney, CPA

• Ep63 - Happy Hour: LASIK, HSAs, Simple Path to Wealth

• Ep61 - When is an S-corp a bad idea?

 

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