Master Your Cash Flow
with Profit First
Maximize your tax refund and eliminate stress with our trusted tax service. We connect taxpayers with top tax professionals to handle your federal tax, state returns, and income tax needs with absolute precision. Whether you are an individual or a business owner, our tax pros make filing your taxes simple and seamless.
Keep What You Earn
With Tax Professionals
Instead of letting unchecked expenses swallow your cash, Profit First immediately divides your incoming revenue into five designated bank accounts. This behavioral cash management system creates clear visual boundaries that tame the expense monster, guaranteeing your business works for you, not the other way around.
Income Account
The initial collection hub for all incoming revenue before any profit allocation transfers occur.
Profit Account
A dedicated profit account to accumulate quarterly profit distributions, build cash reserves, and secure true financial stability.
Owner's Pay
Ensures small business owners regularly compensate themselves with owner's pay rather than taking whatever is left over.
Tax Account
A dedicated tax account that sets aside funds every cycle so paying taxes is fully covered without seasonal stress.
Operating Expenses
The operating expenses account holds only the remaining balance used to cover day-to-day business operations and fixed costs.
Allocate Your Revenue,
Guarantee Your Profit
Set Allocations
Work with certified profit first professionals to review your current allocation percentages and establish realistic target allocation percentages based on your revenue goals.
Automate Transfers
Set up separate bank accounts on a modern business banking platform to easily manage multiple accounts and automate transfers between your core accounts. You can also establish a dedicated payroll account if your team structure requires it.
Move Your Money
Twice a month, run your standard allocation process to move revenue across your five separate bank accounts, paying yourself first and keeping operating expenses strictly within bounds.
Master Your Business
& Personal Finances
The core principles of profit first aren't just for multi-million dollar companies, they work equally well for personal finance. By applying an envelope budgeting method to your personal life with separate bank accounts for taxes, retirement, or major goals, you can eradicate financial stress and accelerate wealth creation both inside and outside your own business.
Partner with our certified Profit First professionals today to build permanent profitability inside and outside your business.
Frequently Asked Questions
What is the primary difference between Profit First and traditional accounting?
Traditional accounting relies on generally accepted accounting principles (GAAP) using the formula Sales − Expenses = Profit, leaving profit as an afterthought. The profit first method reverses this equation to Sales − Profit = Expenses. This forces businesses to operate on only the remainder, curbing unnecessary spending.
What are the five core accounts required for Profit First?
The profit first method requires five separate bank accounts: Income Account, Profit Account, Owner’s Compensation Account, Tax Account, and Operating Expenses Account. Having these separate accounts creates clear visual boundaries so operational capital isn’t mistaken for profit.
How often should I transfer funds between my Profit First accounts?
Businesses should allocate funds bi-monthly on the 10th and 25th of each month. Moving money on a regular schedule establishes healthier financial habits and predictable cash flow.
How do I transition from current allocation percentages to my target allocation percentages?
Start small. Work with certified profit first professionals to evaluate your current allocation percentages, begin with a profit allocation of at least 1%, and adjust your targets quarterly as your business grows.