By . Planning Spreadsheet. At Sunday, June 27th 2021, 06:27:25 AM.
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Starting a small business out of your home, offering products or services like business consulting, photography, selling on the web or a MLM? You are now faced with tracking all your expenses and revenues for your business and you certainly dont have the money yet to engage a bookkeeper or accountant. If your business is a sole proprietorship, whether it be a Canadian Proprietorship or a US-based Proprietorship, you do not require an accountant to submit your company financials (books) to the IRS (USA) or Revenue Canada). Your business revenue and losses are reported as part of your annual personal income tax. For this small business start-up, you wont need to buy fancy accounting software, like Quick Books or AccPac to track your business.
The perfect balance between professional and personal life makes everything go well according to the plan and reach the destination to lead a happy life. As they say "Impossible is nothing" seems to be true to the core when stepped with well structured strategies slowly and steadily at least till a proper momentum is gained. So far so good. What if one reaches the destiny of his or her life and gets older? Obviously, he cant work any more handling both mental as well as physical pressure. Thats when the retirement planning should come into effect, which could be considered as the last and final planning of ones life, sometimes that might not be.