Managing Debt and Utilizing Tax Deductions

These two factors are what startups lack in business knowledge early on. People (Especially Americans) are infused with ideology to dive in debt. The government or banks do not make it any better because they want you to be in debt forever. Debt to buy a house, a car, an education that gives you a degree without experience-to-make-you-get-a-job-that-requires-experience. (See the catch 22). This philosophy has spread to other aspects of our lives in underlying ways. You are embedded in buy insurance for a car just to drive it, you are stuck with phone plans an contracts to remain "connected" with the world, and Facebook (the social media monopoly) nearly is in every login page for a website! (Tech Fact: The only reason you may see that is so the web server aren't tasked with the password responsibility, and it helps you sign into their service faster). No one ever considers or builds a plans way to pay back their debt, especially in business. Taking care of financial obligations are most important for business.

Taxes are a little different from debt. It's a financial tool that is easily neglected, and a weapon that kills so many people financially. Business has so many funds generating from many sources that taxes play a part in. Yet, there are so many deductions available for business owners, over 4,000! A healthy habit of financial review and record keeping expenses is a good way to target which categories and purchases you can receive back in taxes. Giant corporations leverage this knowledge to the tee. In the oncoming future build your business by preserving and managing as much of your funds as possible before the centralized powers play you out of your earnings

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-Ty Cooper (AOW)