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Jim Quinlin’s finances were upside down. His expenditures plus his taxes were greater than his income. Jim’s
company made $80,000 a year, and he was probably paying half of it in taxes because he was not properly using his
entities. Once we taught Jim how to forecast, he’d be retaining a lot more of his revenue and quickly get right side
up.
Question 3: What Assets Do You Have?

“My business, I guess. Though it’s just me and a few weights. I have a whopping $5,000 in the SEP I created and
that’s it. I rent my apartment.”

Question 4: What Are Your Liabilities?

“I owe some money on my business, about $30,000. For the store-front I’ve been leasing and for some marketing
and equipment, stuff like that.”