Tim Savre
speaker
155 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Tim Savre’s voice in public audio — every appearance, attributed to the second.
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Appearances
How did we have a million bucks two months ago?
And now we have nothing.
Um,
So I think it's crucial to stay on top of that on a monthly basis and have some type of cashflow and for sure a work report going.
yeah so it's really important to of course look at what your expenses are on the project and what you've actually invoiced um and the example i like to give a lot of times on tax time is it actually if you take a deposit on 1231 and you go ahead and just pay taxes on that money because you have no expenses against it you're kind of shooting yourself in the foot because you're paying you're paying all this income tax on money that you haven't really earned yet so if you're not whip adjusting
you need to be able to delay those taxes because otherwise you're gonna pay all that tax upfront and then you're gonna come to next year and say, okay, well now what?
I don't have any money anymore.
I paid taxes on 200K.
I need to finish this project.
And it kind of snowballs and gets out of control if you don't have a good handle on it.
You should go into accounting, Matt.
There's two concerns.
There's two issues at hand, right?
Is one, you don't want to pay more money than you have to in taxes.
Secondly, you don't want to finance projects for your customers.
You could actually have the reverse be true.
You could be way under billed in your borrowing cash
or maybe you're not even borrowing cash, but you're not, you don't have that in the money market.
You're not making any interest on your profit.
Instead, you're actually building the project and then you're getting reimbursed later from the customer.
Showing 41–60 of 155 · page 3 of 8
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