Suckerpunch from Mr. Tax Man

I thought I was gonna be sick.

I stood at my letterbox with the brown envelope in my hands staring in wide-eyed disbelief;

“You owe $118,392 in tax.”

The year was 2007.

And back then $118k was a lot of money for me (still is – but now, unlike then, I could just take it from of my bank accounts).

It was a perfect storm.

Thanks to lack of accounting advice and lack of foresight on my part I’d had my most successful year to date the year before but not realized the tax juggernaut which was heading my way.

My head was spinning;

“What can I do? How could this happen? Where can I get this kind of money?”

I was in the shit.

All the money made the previous year had been spent.

So I did what all internet marketers do when they want a truckload of money fast – I sold a new digital product.

It paid off.

The product did $1.9m gross in a few days.

I paid off the tax, bought a new house mortgage free and from then on always have a high interest account where I stick 60% of my income for tax or other nasty surprises.

The lesson?

You need to have your own products to sell so you can make money on demand too.

And the easiest way to do it is to invest in PLR products where you get everything done for you and you just keep the money.

Like this;

http://www.michaelcheney.com/done-for-you/

 

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