Brian Kaskavalciyan explains why contractors with high revenue often stay poor. Without learning tax planning, investments, and cash flow management, they lose what they earn. One contractor's accountant couldn't explain where a million dollars went.
It's not just all of a sudden, okay, my business is doing $5 million and I'm making $750,000 or $800,000 a year. Now magically, all of a sudden, I understand how to invest properly, proper tax strategies. That doesn't just happen magically just because you made money. Actually works the opposite. If you don't learn all of those things, it doesn't matter how much you make, you ain't keeping any of it.
Nobody will watch your money like you watch your money. If you're trusting that somebody else is taking care of— I mean, I remember being somewhere and the guy came in and said, well, that's missing a million dollars. Where's that money? And the guy looked at him, go, all I do is pay your bills and bring checks in. I don't know where the money's at. And I remember thinking how stupid that question was for that owner to ask of this guy, that all he was was a freaking accountant. He just put money in and took money out.
