Business School for People Who Like Helping People: VALUE 11

Sharon reminds us that it's not how much money you make that counts. It's how much money you keep. Most people struggle financially because they spend all their lives working for someone else, and have nothing for themselves when they retire.

Even if they do have a little money, it all goes to medical expenses because they are sick and old. There's no room or time for enjoyment.

To curb this scourge, learn to build your assets instead of working

for an income, half of which is taken by the tax man before it even reaches your account.

She reminds us that employees pay tax first, before they pay expenses, while business owners pay taxes last, after settling all their expenses. Additionally, you can reinvest some money back into your business before paying your taxes. That's why business owners get rich while employees lag behind.

She even gives us a list of legitimate business expenses that we can deduct before we pay tax. Obviously, consult your SARS handbook

or your accountant to avoid getting yourself in trouble.