Yesterday I was explaining why to influence people in a positive way you should make them envious of WHO YOU ARE and WHAT YOU DO not what you have as well as why the Influencer said weekends make you weak.

Speaking of him saying weakends it’s right in the name bro…

Here is a conversation between My Drunk Aunt and Dave during New Years celebrations.

My Drunk Aunt: I got a dog and he is getting really well trained.

Dangerous Dave: Dogs aren’t the only animals you can train.

My Drunk Aunt: What other animals can you train?

Dangerous Dave: I had a goldfish that could breakdance on the carpet… but only for like 20 seconds.

*silence*

In other news…

2025 goal: The body of an athlete, mind of a stoic, spirit of a warrior and spirit of a child.

Anyhoo…

Your one PROFIT ACCELERATION THING today is:

‘Taxes’

I wrote a book on accounting for business coaches… let’s start the new year off right by being mindful and intentional about important stuff like taxes.

If your client is like 94% of the business population, they’ve never taken 5 minutes to study taxes and how to ethically and legally minimize their tax position (their number one expense).

Let’s start with a home office.

Let’s assume I’m a business coach and I’m looking to take you on as a client.

Here’s a little homework I’d do on minimizing your tax position and to ensure I had many answers before starting to help you with some very simple tax direction (MONEY).

And with about 90% certainty the accountant isn’t given the opportunity cause everyone goes to see them once a year 3 months after the financial year ends and it’s unnecessarily costing you and your clients hard earned money.

– Get a floor plan of your house

– Mark the areas that are taken up by your office

– Your office needs a bathroom

– Your office needs a kitchen

– Your office needs an entrance

– Space for garbage

– Storage area

– If you do meetings, you’d need to use the living room

–  Company car space in your garage

– Maintenance on the gardens that surround your office

– Cleaning of your office and areas you need

– You are staff and you need amenities like tea, coffee, biscuits, milk, food, toilet paper (you poop a LOT) etc… Note: This is why you can buy all of this stuff at the stationary type store. Buy it there separately from other household expenses.

–  Assume the above is 50% of your house. Then 50% of the interest on your mortgage should be able (*subject to local tax laws so ask your accountant and this is not tax or accounting advice) to be dedicated.

– Expenses like electricity, water etc… are now partly business expenses.

– Depreciation (depreciation is a non-cash expense and therefore PURE GOLD for minimizing your tax position – reduce your profits without spending your hard earned cash) on office equipment, computers, laptops, furniture used for business purposes, cars and any other assets that are used to increase income.

I probably already covered a good portion of my annual coaching fees and we didn’t work harder, hire anyone, make an extra sale or drive any new revenue.

I could well and truly keep going and we didn’t even touch (dramatically reduce) your actual expenses that don’t GET or KEEP clients.

Rather than having a spouse start an MLM and making an extra (taxable) $10,000 selling cosmetic products with kitchen parties…

… use that time and energy to study taxes and sit down with an accountant with the above list and end up well ahead of the time spent selling cosmetic products.

Do this for yourself and then do the same with your new coaching client and their home office.

Nothing intimidating about it.

A major reason to become an entrepreneur is the tax benefits.

Kinda silly not to ethically take advantage of them.

*I’m not an accountant and don’t pretend to be… so, speak to your / their accountant before doing anything I say or write above about taxes.

You heard it here first.

Now, pick up the phone and go help someone.

Obsessed with your business coaching success,

Karl Bryan

Founder, Focused.com

PS. It takes ONE committed business coach to effect serious change in their local business community.

#ZeroToOne

PPS. If this helps and you want it to really sink in… GO TEACH IT to someone cause that’s the best way for you to learn it. A friend, your spouse, a prospect, a client etc…

*Don’t plagiarize my work like a lame arse.

PPPS. Marriages break up from lack of money… over lack of love X 100. Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.

As good business coaches, we save marriages, save families, save kids from self-destruction… we save lives!

A true life of purpose.

PPPPS. If you’re looking for a proven system to follow for your coaching…. I created Profit Acceleration Software™ and high-end step-by-step training to support it…

We did a training that will teach you ‘A strategy that can DOUBLE your clients’  bottom-line profits using exponential growth without spending more on marketing.

Imagine finding your high-ticket coaching fees BEFORE you start coaching your new clients?!  And a proven coaching system created for you to follow with your new coaching client.

Access the free training here

PPPPPS. Forward this to someone that needs to subscribe to my daily emails and get a limited-time, complimentary subscription to my business coaching magazine go here:

https://thesixfigurecoach.com/subscribe/

PPPPPPS. They tell me my Podcast is Ric Flair style, Money Makin, Client Getten, Joint Venture Landing, Event Fillin, High-End Coaching Client Findin Gold For Business Coaches.

https://karlbryan.com/business-coaching-secrets-podcast