Podcast 285: It’s Not What You Make It’s What You Keep with Erik Jackson

Today’s show is all about the numbers! You MUST run your business by the numbers and know your numbers. Let’s talk about why it’s not what you make, but what you keep that is most important. Join us now!

Erik Jackson is here to talk about building wealth. Building wealth for the life you want begins with running a profitable business and understanding the tax laws and tax advantages will allow you to keep more of what you make. Erik Jackson of Kind Equity Partners helps real estate and construction industry leaders create freedom and balance in their businesses so they can devote their time to building generational wealth and legacy.

What you’ll hear in this episode:

• Get to know Erik, his background, and how he came into the work he does today
  
  
• How Erik set up Mastermind groups as peer groups to help people know their numbers
  
  
• Why you need a picture of where you want to go in life—then you make a plan to go in that direction
  
  
• Why most contractors are not profitable because they aren’t charging enough for their work
  
  
• Why you sometimes have to “Go for the No,” because you can’t serve everyone
  
  
• How Erik’s budget plan builds in a minimum of 10% owner’s compensation and 10% net income for the company
  
  
• Why you are “driving blind” in your business if you don’t know your numbers
  
  
• How we maximize our profits through tax advantages
  
  
• Why you should talk to your accountant on a regular basis
  
  
• Questions to ask your accountant regarding tax advantages
  
  
• Why every contractor should be taking advantage of the “Augusta Rule”
  
  
• Tax rules for employing your kids in your business
  
  
• Why S corps should be taking Section 199A deductions to minimize taxes
  
  
• Why you should consider using a health savings account as part of your medical plan
  
  
• How to build your wealth using real estate investments based on cost segregation studies
  
  

Resources:

Connect with Dave

Check Out My NEW Website: The Roofer Coach

Download My FREE 1-Page Business Plan

Text Me @ (510) 612-1450 – Say Hi!

I would love to hear your feedback, pros & cons!

**Please leave me a review on iTunes!**

~Please Share My Podcast With Other Contractors~

Connect with Erik:

Connect with Erik:  www.kindequitypartners.com  

Check out Erik’s resources for our listeners:  www.kindequitypartners.com/trs 

Vetted Sponsors of the Roofer Show

Check out the programs that will help you gain confidence in your sales process, become a better leader, and build a winning sales team at

Salestransformationgroup.com/roofershow

Tee up the sale and make a great first impression by having a friendly, professional receptionist answer your phone with https://get.ruby.com/theroofercoach

Be the modern day contractor! We help you leverage technology to generate, organize and maximize commercial roofing leads. Find out more about Peak Leads.

Peakleads.io .