Why I Take Money Out of My Business On Purpose

Want us to look at where your profits are ending up? https://kht.com.au/youtube/ __ For the first 10 years I ran my business, pretty much everything I owned was tied up in it. These days I deliberately take the surplus out and hold it somewhere separate, and on $200,000 of profit a year that decision is worth over $800,000 across a decade. In this video, I go through the maths on where the same dollar gets taxed, how much cash I leave in the business before I take anything out, and the three-part structure I use myself. __ ► Subscribe to my channel here:    / @benelliottca   __ LET'S CONNECT: LinkedIn:   / benelliottca   Instagram:   / benelliottca   Facebook: https://www.facebook.com/profile.php?... Website: https://kht.com.au/ ________ ABOUT: Ben is the managing director of KHT Accounting & Wealth, a Perth-based firm that helps Aussie business owners make smart decisions about their financial future. With over 13 years of business experience, and having worked with hundreds of clients across multiple industries, Ben’s passionate about sharing his knowledge to help business owners turn their business into a self-sustaining asset that can help them achieve their financial goals. Also an avid reader with particular interest in business literature and biographies, Ben rides his bike to work, rain, hail or shine. He goes surfing whenever possible and will always opt to kick the footy with his three boys rather than watch it on TV. ________ DISCLAIMER: This video is for general information and educational purposes only. It does not constitute financial, tax, legal, or accounting advice and does not consider your personal circumstances. Laws and regulations may change over time. Before making any decisions, seek advice from a suitably qualified professional. Any reliance on this information is at your own risk.