Finance

[ToniAmor]

Save for taxes Profit

[ToniAmor]

https://docs.google.com/spreadsheets/d/1LJSgObgOFHhERoZXLcCBvrut45uTPH4d/edit?usp=sharing&ouid=115970999614841404052&rtpof=true&sd=true

[ToniAmor]

We just need $900 a day/ $27k a month to stay profitable.

You can use these dates in the account as your North Star • Dec 1 - 7 • Aug 10 - 24

[ToniAmor]

• $27K / 2.3 ROAS

[ToniAmor]

[ToniAmor]

[ToniAmor]

• Tax Season and Shipping Fee increase

[ToniAmor]

• Get the Shipping Infos from the suppliers.

[ToniAmor]

• How much we can lower the price of the Body Wash? - Muhammad

[ToniAmor]

• Meeting with Muhammad Wed or Thursday 10 AM PST - Canada/Taxes

[ToniAmor]

• Ask Muhammad about the $20K purchases

• Product Taxes https://help.shopify.com/en/manual/taxes

[ToniAmor]

• Budget • Sellers Permit • SEO Talent

[ToniAmor]

• Set budget after Global Merge

[ToniAmor]

• Setup a call with Muhammad, after 2nd account was setup.

[ToniAmor]

• Amazon Sales / Ad Spent • Purchase Orders • Wages / Sub-contractor - Upwork

Add Expenses • FBA Fees

[Oprahulsharma]

follow up for tax intros

[ToniAmor]

• Start budgeting

1. music / filmmaking
2. travel / entertainment
3. food
4. app development
5. products (trade orders + shipping fees)
6. rainy day fund (assuming amazon freezes our account again)
7. taxes for 2024

monthly / weekly budget for these

• Is there anything that we need to think about?

[ToniAmor]

• Fraud

[ToniAmor]

• Om looks Fred financials

[Oprahulsharma]

Paypal issue

[ToniAmor]

• Multiple Bank Accounts

[ToniAmor]

• Set up a meeting with Muhammad - Fred created multiple bank accounts and doing this for cash flow reasons. Loved to talk about it and make him an admin.

[ToniAmor]

https://www.a2xaccounting.com/

Rainy Day Fund: 3 Months of Operating expenses if our sales stop for 3 months

•Ask if A2x is better than QB

[Oprahulsharma]

Meeting with Muhammad on Friday

[ToniAmor]

• Cancel Bank Cards

[ToniAmor]

• Write down the list of expenses and list of recurring expenses.

[ToniAmor]

• A2X move after 6th june

[ToniAmor]

• IRS Letter 2020

[ToniAmor]

• lets create a target goal of budgets / $X cash on hand

-Since Fred’s rent is more, he will:

• will not travel this month • spend only $320 on music for the whole month • reduce meals (less than $30 daily) no more doordash lol

[ToniAmor]

• Organize a Meeting with Muhammad and Irina

[ToniAmor]

• Ask Muhammad:

let him know what questions he has for Irina and times he is free on Monday / Tues

[ToniAmor]

• Ask Muhammad if we still need to unsubscribe Turbo Tax.

[Oprahulsharma]

More Cash on hand

[ToniAmor]

• Pay Tax that Muhammad sent

[ToniAmor]

• What Plan do we need for A2X.

[ToniAmor]

• Quickbooks