Tax time is here and with it often comes reflection. For business owners, working on or reviewing business and personal tax returns offers an opportunity to assess the previous year. Whether 2020 was a year to forget or your business adjusted and thrived during the pandemic, analyzing your company’s financials during the tax filing process can yield important insights.
Did you set financial goals for both the business and yourself?
If the answer is yes, that’s great! More likely than not, you are probably hyper-focused on building your company and its bottom line rather than setting personal financial goals. Or perhaps you think that your financial future is tied so closely to the success of your company that your business and personal financial goals are identical.
