{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Simplify My Numbers | Saving 7-6-5 Entrepreneurs 5 Figures in Taxes","title":"12. Profit vs Cashflow: Why You Feel Broke","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/e87f5ccf\"></iframe>","width":"100%","height":180,"duration":617,"description":"Ever wonder why you made three hundred thousand dollars last year but don't have three hundred thousand dollars anywhere to show for it? That gap between what you earn and what you keep trips up more business owners than you'd think — and it usually comes down to confusing profit with cash flow with actual wealth. \nI break down where the money really goes: taxes, debt payments, and owner's draws you don't even notice creeping up on you. Plus, I share the framework that finally made this click for one of my clients, and a book that lays it all out in simple terms.\nHighlights\nWhy \"profit\" and \"cash in the bank\" are two completely different thingsThe layers of taxes that quietly eat into a business owner's incomeHow paying down debt can make you feel broke even when you're profitableThe owner's draw trap: how personal spending drains cash without touching taxable profitA simple framework for separating profit, cash flow, and wealth so you can actually track your numbersHow working with a tax strategist can turn expenses into real tax savings\nChapters\n0:00 – Why You Feel Broke1:27 – Profit Versus Cash2:41 – Taxes Eat Cash3:57 – Debt Payments Drain4:54 – Owner Draw Trap6:13 – Fixing The Formula7:28 – Profit First Method8:53 – Closing Thoughts & Resources\nResources Mentioned\nProfit First - Amazon\nWant to keep more of what you earn? If you’re a 7-6-5 business owner ready to move from financial chaos to CFO-level comfort, visit www.simplifymynumbers.com to schedule a call with our team. \nSubscribe and leave a review on Apple or Spotify to help us grow the community, and be sure to share this episode with a fellow founder.\nThis show is designed to be used for educational and informational purposes. For your own situation, be sure to contact a tax professional directly.\nThis show is part of the ICT Podcast network. For more information, visit ictpod.net","thumbnail_url":"https://img.transistorcdn.com/E0Gc0wU8bIWldC9D-uQsDKrcetNgirG15Ha3M58Rug8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mOWQy/MjhlZDliMTMzYTZk/Yjc5OTIzYzcxYzc5/NTYyNy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}