August 2016 Profit & Loss: $21,145.90

Before you get sad for me regarding the lowest net profit month of the year, let me explain.  In an effort to get ahead of the tax monster that chases us all, my accountant recommended that I make adjustments to my payroll each month for the rest of the year.

So in August we added over $10,000 in extra payroll that all went directly to the government.  On top of the monthly income tax that I already pay.  This may sound confusing, but it’s not.  You probably pay quarterly income taxes (or at least you should!).  I did as well when I was an agent working for other companies.  Now I pay my income taxes through the company.  As the year goes on, based on net profit, I make adjustments to how much that I send the government.

For instance, the extra $10,100 that I sent this month is debited as payroll for Bart Vickrey.  However, I do not receive any of the money.  All of it is sent to the continuously needy coffers of our incredibly efficient and frugal government.  I do this to avoid a huge tax burden come April 15th.  Hope that makes sense.

August saw $215,284.57 in income.  Down from July totals of $256,854.98.

Our top team agent earned: $81,338.17!

With three other agents topping five figures earning $23,770.60, 14,077.65, and $10,311.82.

I’m very blessed and thankful to have such incredible team members!

Check out the detailed August Profit & Loss statement.

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