Once you start making some money in your real estate business, it’s easy to fall into the trap of figuring out your taxes later. Unfortunately, doing so puts you at risk of owing the tax man some serious cash. Even if you file an extension, the following tax year will roll around and you’ll owe even more. It can be tough to get out of that hole once you’re in it. I know from firsthand experience.

So what can you do about it? Well, I recommend everyone get their hands on a copy of the book Profit First and implement the strategies inside. No matter what you do for a living, you have to pay the tax man. Take care of all outstanding bills, debts, and taxes, and use whatever you have left over to invest more in your business or take that well-deserved vacation. Don’t be a checkbook business owner like I was. Make this new year a profitable one without stress.

What’s Inside:

—Why you shouldn’t put off paying taxes.

—How to implement the Profit First strategy.