BONUS: Income Report April 2016

Entrepreneurs on Fire

John Lee Dumas

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🗓️ 6 May 2016

⏱️ 37 minutes

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0:00.0	What is shaken fire nation JLD here and I am excited no ecstatic for April 2016's income reports.
0:10.6	We have a lot to talk about today, but number one what we like to talk about first is the income at a
0:16.4	glance. So our gross income for April was 222,919 dollars. Our expenses were a cool 81,000 and that's
0:26.2	actually uncool, but our total net profit was 140,925 dollars for a $77,000 increase from the
0:34.2	previous month. And again, as I tease a little bit fire nation, we have a ton, a ton to talk about
0:41.0	today. A lot of cool things happening this month, but first and foremost, I want to bring on my
0:45.8	co-host Josh and Kate. What's going on guys? What's up, fire nation? Hey, fire nation. So we have a
0:51.9	ton that we're going to be talking about today with the trio myself, Josh and Kate. And as always,
0:57.4	we're going to start with Mr. CPA on fire himself. Josh is April tax tip. And I'm going to
1:04.1	preface it a little bit because there's three things you didn't know about sales tax. So Josh,
1:10.0	again, say it was up to fire nation and then take it away. Hey, what's up fire nation back here for
1:15.1	another month in John to start this off. I have a little bit of a confession for you. I love taxes.
1:21.1	All right. I don't necessarily love paying them, although that does mean you made money. So that's
1:25.2	not so bad either. And I don't like telling my clients when they own a lot of taxes. But I love the
1:30.8	game of taxes. I love creating a strategy to get them as low as possible. And I love just going
1:36.1	through that whole process with clients. But there's one area of taxes that I absolutely despise.
1:42.8	And that is sales tax. And recently EO fire ran into this issue, right? Because you started
1:50.5	selling the freedom journal and it created potential sales tax liability for you. So as we went
1:56.7	through that process, we thought that it would be a great time this month to talk to fire nation
2:01.3	about sales tax. And with that, we have three tips or possibly three things that fire nation
2:07.5	did not know about sales tax. So you ready to dive into that? Let's dive on in. All right. So number
2:13.7	one is you only have to collect and pay sales tax within the state that you have nexus. So that
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