How the Profit First System Will Transform Your Taxes

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How the Profit First System Will Transform Your Taxes

Today I'm joined by my good friend, The Tax Goddess to discuss the Profit First system. Shauna Wekherlien's background in helping people legally minimize taxes and maximize savings and focuses on the Profit First system, a financial management approach for businesses and individuals. We explain how this system promotes discipline by prioritizing profit before expenses. Shauna also shares strategies to reduce tax bills legally. Today we discuss...

  • Shauna Wekherlein shares her work as a tax strategist, helping people manage money and keep it away from the government legally.
  • The Profit First system is a simple financial framework for both businesses and individuals.
  • Shauna explains the process of setting aside a percentage of revenue for profit before paying expenses.
  • Profit First encourages using multiple bank accounts to separate funds for profit, taxes, and other expenses.
  • Kirk shares his positive experience with the Profit First system, calling it life-changing.
  • How the system is customizable, allowing users to start small and increase their profit percentage over time.
  • Shauna emphasizes the importance of having a separate bank account for taxes.
  • The value of financial strategies to reduce tax bills while still ensuring funds are available for payments.
  • Shauna highlights how business owners and individuals can use the Profit First method to achieve personal and financial goals.
  • The conversation covers common financial challenges like lifestyle inflation and debt, and how Profit First can help avoid them.


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Today's Guest: Shauna Wekherlien

Shauna A. Wekherlien, CPA, MTax, CTC, CTS, is the US’ Top 1% ranked, highly sought-after Tax Strategist. She is passionate about helping successful business owners, entrepreneurs, and high-wage earners reduce their tax burden. Having founded Tax Goddess Business Services, PC in 2004, she has built a large global team of tax specialists who use “plain language” (not tax code) to help her clients create tax opportunities and manage tax risk legally. Shauna, the “Tax Goddess,” as she’s fondly called, is engaging and enthusiastic and has been called a “pure joy” to work with. She makes taxes “fun.” Her proprietary program “STC” (Strategic Tax Coaching), boasts a current average tax rate of 6.92% for her clients. With over 4700 tax plans written thus far, the Tax Goddess team has been able to help clients save over $1,122,900,616 in taxes. Shauna herself is a zealous tax and financial educator. She is a highly-demanded author and speaker with advanced communication and public speaking skills. Over the past years, she has been featured in many magazines, such as Forbes and Entrepreneur, as well as hundreds of television and podcast appearances, such as CNN, CBS, NBC, the 10 Minute Entrepreneur, the Lifeblood Podcast, and the Action and Ambition Podcast.

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