Podcasts about Sole proprietorship

In this episode of the Machine Shop MBA series, we go beyond vision boards and get into the meat and potatoes of launching your shop legally—with the right entity type and structure to support your short and long-term goals. Whether you're looking to stay solo, bring on partners, or position for future investment or acquisition, your business formation choice can be the foundation—or the friction—of your growth.  In this episode, the team dives deep into the critical, yet often overlooked, process of legally forming a manufacturing business. The hosts, alongside experts Nick Vargosko and Brad Botcher from CliftonLarsonAllen, break down the most important steps in choosing the right legal entity, from sole proprietorship to S-corporation and LLCs. They also touch on how these decisions will impact your long-term goals, including potential exits and tax benefits. Why does the structure of your business matter? It's all about protecting your personal assets, optimizing your tax strategy, and setting your business up for future growth or eventual sale. The team discusses real-world examples and offers insights into what business owners often miss when it comes to entity selection. With the right foundation, your machine shop can thrive, but getting it wrong early could mean expensive and painful mistakes down the road. Tune in as we walk you through the legal nuts and bolts of starting your shop, with expert advice on how to build a business that can scale and survive. If you're planning on making chips, don't miss this critical episode that could shape the future of your manufacturing business. Segments (0:00) Introduction to Episode 2 of the Machine Shop MBA series (1:12) Learn how you can grow your top and bottom-line with CLA (3:50) Introducing Nick Vargosko and Brad Boettcher (5:39) The importance of long-term thinking in business formation (10:02) Overview of what a Sole Proprietorship is (12:02) Breaking down LLCs and the different election options (15:30) LLC vs Sole Proprietorship: Which one should you choose? (16:35) Why you need to complete the Top Shops survey (18:14) What to do if you chose the wrong structure (19:07) The difference between S-Corps and C-Corps (28:02) When to choose a partnership (and why it might offer flexibility) (29:47) What do you need to do to change your structure?  (31:32) Horror stories when things have gone wrong (38:01) Why you need to check out Buy the Numbers Resources mentioned on this episode CliftonLarsonAllen (CLA) Take The Modern Machine Shop Top Shops Survey Connect with Nick Vargosko on LinkedIn Connect with Brad Boettcher on LinkedIn Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube

In this episode of Remodelers On The Rise, Kyle answers real questions from remodelers inside the Remodelers Community Facebook group. From battling burnout as a solo remodeler to leading with love vs. fear, running effective meetings, organizing your sales pipeline, and using AI tools to boost efficiency—this smorgasbord of hot topics is full of quick-hit insights and practical strategies. Whether you're trying to grow your team, price more profitably, improve client relations, or streamline your sales process, there's something here for every remodeling business owner. ----- Today's episode is sponsored by Builder Funnel! Click here to learn more about how Builder Funnel helps remodelers and home builders grow through strategic digital marketing. ----- Explore the vast array of tools, training courses, a podcast, and a supportive community of over 2,000 remodelers. Visit Remodelersontherise.com today and take your remodeling business to new heights! ----- Takeaways Sole proprietors often face burnout from juggling multiple roles. Effective leadership requires a balance of respect and approachability. Regular team meetings can enhance communication and project management. Keeping a sales pipeline organized is crucial for business success. Investing in team training leads to better performance and company culture. AI tools can streamline processes and improve efficiency in remodeling. Striking a balance between perfection and timely delivery is essential. Practicing responses to sales objections can improve closing rates. Understanding financial metrics is key to maintaining profitability. Continuous marketing efforts are necessary to keep the pipeline filled. ----- Chapters 00:00 Introduction to the Smorgasbord of Topics 03:09 Challenges of Sole Proprietorship in Remodeling 07:29 Leadership: Love vs. Fear 10:26 Effective Team Meetings 14:37 Keeping Your Pipeline Filled 18:22 Investing in Team Development 21:46 Utilizing AI Tools in Remodeling 23:43 Balancing Perfection and Timeliness 26:34 March Madness and Business Strategies 28:29 Countering Objections in Sales 31:37 Common Questions in Remodeling Business

As tax season looms, many travel advisors find themselves in unfamiliar waters. Organizing finances and preparing for tax filings can be daunting, but with the right knowledge and strategies, this annual chore becomes much more manageable. In this episode, tax expert Andrew Roed shares tips to help travel advisors stay organized, save money, and avoid costly mistakes. From choosing the right business structure to smart payment strategies and avoiding IRS penalties, Andrew covers what every advisor needs to know. He also clears up common deduction myths, explains estimated tax payments, and reveals how to use your financial data to grow your business. Don't let tax season stress you out - tune in now and take control of your finances! About Andrew Roed: Andrew Roed is an IRS Enrolled Agent, husband to a Travel Advisor and owner of a Company called Taxes For Travel Agents, LLC. Taxes for Travel Agents, LLC focuses on providing tax preparation, tax planning and most importantly financial education for Travel Advisors. taxesfortravelagents.com Facebook Group: Taxes for Travel Agents Today we will cover: (01:20) Andrew's background; becoming a tax expert for travel advisors (04:50) Sole Proprietorship vs. LLC (08:25) Treating your LLC as a separate entity (10:25) Switching to an S Corporation status: is it right for you? (14:10) Strategies for paying yourself as a business owner (19:45) Planning for taxes; setting aside funds and estimated payments (28:40) Tax deductions and write-offs; examples of business expenses (35:10) Tax surprises and hidden costs; hiring a professional for tax preparation (40:45) Utilizing tax data and planning for the future (53:40) Retirement planning options for travel advisors; Solo 401(k) SEMI CUSTOM BRAND KITS Browse our collection of pre-designed brand kits that are customized to your brand's unique personality by our talented Creative Director! _____ JOIN OUR NICHE COMMUNITY: tiquehq.com/niche FOLLOW ALONG ON INSTAGRAM: instagram.com/tiquehq CHECK OUT OUR SERVICES & PROGRAMS: tiquehq.com

Becoming a successful business owner is more than just creating a product or service that "sells", you must be intentional and understand a complete picture of 1. Your Vision (Your Why), 2. the entity you will select (Corporation, LLC, Sole Proprietorship, etc.), and 3. the general knowledge of business. There are a lot of "How-To" Videos but no videos at all about how to manage & sustain a business. This is where Business Talks comes in! Business Talks is all about providing you with generational business knowledge via videos & podcast episodes. Business Talks is a show that provides a transformational journey designed to help you turn your entrepreneur vision into long-term actionable success. So Welcome!! I hope you stay for a long time & for a good time! lol Please leave your questions & comments in the comments. No matter whether good or bad!

In this episode of "The Encore Entrepreneur," Lori Lyons continues her "Building a Strong Foundation" series, focusing on the critical legal and financial aspects of running a business. Lori emphasizes the importance of choosing the right business structure, such as sole proprietorship, LLC, S Corp, or C Corp, to protect personal assets and ensure compliance. She highlights the necessity of contracts, separating personal and business finances, and effective cash flow management. Lori provides practical advice and personal anecdotes to guide entrepreneurs in establishing robust legal and financial systems, essential for protecting their businesses and facilitating future growth. Resources: Are you frustrated that your business isn't growing? "Messy to Magnetic: Unlocking the Secret to Effective Marketing" is a free course that goes over the top 10 mistakes small business owners make with attracting their ideal client and converting those clients to leads. Click here for your free gift!  Join Lori's private Facebook group - Make Your Marketing Simple. Lori interviews her guests in the group (giving you advance listening!) and has a community of small business owners just like yourself to connect and grow their businesses.  Join now!  Schedule a Website Biz Accelerator call. Answer just a few questions and Lori will audit your website for the ONE biggest change you can make to your site to get more clients.  Schedule here!  Connect with Lori

In this week's episode of Real Money Talks, Loral Langemeier helps entrepreneurs, investors, and business owners discover strategies to maximize profits, minimize taxes, and structure their businesses for long-term financial success. Covering everything from real estate investment, tax optimization, and business structuring to wealth creation strategies, Loral dives deep into the steps necessary to building a strong financial foundation that supports exponential growth.Whether you're a business owner, real estate investor, or entrepreneur looking to scale, this episode provides the essential roadmap to financial independence. Tune in to learn how to build, grow, and sustain wealth like the top 1%!Loral's Takeaways:Real Estate Investment Strategies and Business Management (00:00)Property Management and Business Structuring (03:01)Tax Strategies and Business Reorganization (06:00)Debt Management and Marketing Strategies (14:11)Transitioning from Employment to Entrepreneurship (17:51)Leveraging Property and Trusts for Tax Benefits (23:22)Sole Proprietorship to Business Entity Transition (28:11)Nonprofit Conversion and Tax Strategies (29:15)Meet Loral Langemeier:Loral Langemeier is a money expert, sought-after speaker, entrepreneurial thought leader, and best-selling author of five books.Her goal: to change the conversations people have about money worldwide and empower people to become millionaires.The CEO and Founder of Live Out Loud, Inc. – a multinational organization — Loral relentlessly and candidly shares her best advice without hesitation or apology. What sets her apart from other wealth experts is her innate ability to recognize and acknowledge the skills & talents of people, inspiring them to generate wealth.She has created, nurtured, and perfected a 3-5 year strategy to make millions for the “Average Jill and Joe.” To date, she and her team have served thousands of individuals worldwide and created hundreds of millionaires through wealth-building education keynotes, workshops, products, events, programs, and coaching services.Loral is truly dedicated to helping men and women, from all walks of life, to become millionaires AND be able to enjoy time with their families.She is living proof that anyone can have the life of their dreams through hard work, persistence, and getting things done in the face of opposition. As a single mother of two children, she is redefining the possibility for women to have it all and raise their children in an entrepreneurial and financially literate environment. Links and Resources:Ask Loral App: https://apple.co/3eIgGcXLoral on Facebook: https://www.facebook.com/askloral/Loral on YouTube: https://www.youtube.com/user/lorallive/videosLoral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/Money Rules: https://integratedwealthsystems.com/money-rules/Millionaire Maker Store: https://millionairemakerstore.com/Real Money Talks Podcast:

Andy Frye EA will discuess the If, When, Why, and How of converting a sole proprietorship (Schedule C) to an LLC or S-corp, including the importance of setting up your client on payroll after the conversion.    For more information about the episode visit us at prontotaxschool.com or email us to support@prontotaxschool.com

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Are you looking to protect your assets and build a secure financial future for your family? On this episode of About That Wallet, we're joined by LLC Attorney John Feniak, an expert in LLC formation, estate planning, and business entities. We'll dive into how creating an LLC can shield you from real estate risk, financial crises, and unexpected liabilities. John explains why an Operating Agreement is like a pre-nup for your business and how it ensures business compliance and financial success. If you're part of the Sandwich Generation, balancing family care and entrepreneurship, this episode is packed with actionable legal advice to help you with risk management, wealth management, and business growth. Whether you're starting a small business, managing a hedge fund, or simply navigating the complexities of corporate transparency, this conversation will help you secure your legacy. Don't miss out—tune in to learn how to take control of your financial future!Discover more about Jonathan and his work:Visit the Company Sage website: https://llcattorney.comLLCAttorney.com created a discount code for listeners: WALLETPOD100. It offers 100% off your formation fee for the initial filing. To redeem it, simply enter the code under "Partnership Code" on the final checkout page.THANK YOU FOR LISTENING!#AboutThatWallet #AssetProtection #LLC #Entrepreneurship #FinancialPlanningSpecial Offer for Listeners:Enjoy 100% off your LLC formation fee with the code WALLETPOD100 at checkout on LLC Attorney. Start your business journey today!Continue to support the show by subscribing, sharing, and leaving comments on your favorite platforms. This helps others find valuable financial insights.Follow Me:Instagram: @aboutthatwalletTwitter: @aboutthatwalletWebsite: https://aboutthatwallet.comEmail: Anthony@aboutthatwallet.com--DISCLAIMER: The content in this audio is for educational purposes only. Conduct your own research and make the best choice for you. If you need advice, contact a qualified professional.Episode 280

Send us a textTHROWBACK EPISODE! OLDIE BUT GOODIE :)If you started a business and didn't file any paperwork, what type of business are you??? Do you know???The IRS will automatically classify your business as a sole proprietorship and that you  will file the business income and expenses on Schedule C of your personal tax return. So not much will change except for your tax return! If you filed an LLC, you can still be classified as a Sole Proprietorship. You will have some additional filing requirements for the state you filed the LLC in. In this episode we discuss:-Do you need an EIN for your sole proprietorship?-What expenses can you deduct (i.e. save $$ in taxes)?-How do you file your business taxes?-What other filing requirements do sole proprietors have?-Can you be an LLC and a sole proprietorship?If you are new to owning a business, this episode is a perfect place to start educating yourself on paying taxes as a business owner! Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Financial Confidence for Microschool Founders – Funding, Pricing, and Policies to Support Your Vision In this episode of Teacher Let Your Light Shine, we're tackling the big questions every aspiring microschool founder has around funding, pricing, compensation, and policy setting. As you prepare to start or grow your microschool, financial confidence can make all the difference. From exploring creative funding options to setting policies that protect your budget, we're here to help you turn those question marks into a solid plan. If you're dreaming of launching your microschool in 2025, now is the time to get clear on the steps ahead. Ready to move from scarcity to abundance, and from hesitation to action? Tune in and discover the path to building a financially strong and purpose-driven microschool! Episode Highlights: Creative Funding for Your Microschool: Exploring Fractional Ownership Feeling overwhelmed by the need to secure funding? Fractional ownership might just be the solution. We'll dive into how fractional ownership works, its pros and cons, and if it could be a viable funding vehicle for your microschool. Wondering if there are other ways to raise funds besides tuition? We've got some creative ideas that will inspire you. Sole Proprietorship vs. Non-Profit: Which Structure Is Right for You? Choosing the right structure is one of the biggest decisions for new microschool founders. Should you go for a sole proprietorship, non-profit, or something else? We'll break down each option, covering both the benefits and challenges so you can find the right fit for your mission. Want clarity on what structure aligns with your vision? Let's explore the options. Pricing Strategies for Part-Time and Specials Classes Setting prices for specialized classes like art, Spanish, or PE can feel challenging, but it's essential to charge in a way that reflects the value of your offerings. We'll discuss how to create a pricing structure that's both financially sustainable and honors your expertise. Ever feel hesitant to charge what your classes are worth? This is your reminder to recognize your value. Handling Sick Days and Tuition Policies with Clarity and Compassion It's tough to enforce a no-refund policy when students miss school, but having clear policies helps protect your financial stability. We'll share tips on how to communicate these policies with empathy, while keeping firm boundaries. Struggling to balance fairness with financial security? We'll walk you through ways to stay clear and compassionate. Compensating Staff: Salaried vs. Hourly, and Providing Family Benefits Deciding how to pay your staff—salaried or hourly—can affect your budget and the overall culture of your school. We'll talk through options for compensation, whether or not to pay during breaks, and ways to support staff with family discounts or tuition-free options for their children. Curious how to build a compensation model that's both fair and feasible? Listen in to learn more. Why the End of the Year is Key for Your Microschool Planning As we approach the end of the year, this is the perfect time to plan for a financially abundant 2025. Reviewing your structure, policies, and pricing now sets you up for a smooth launch or expansion come January. These final months are ideal for laying a solid foundation—so you can start the new year with confidence and clarity. Tangible Steps for Financial Clarity and Growth Budgeting and Allocating Income – Wondering how to split your income between expenses, profit, and your own pay? We'll provide tips on how to set a budget that feels sustainable and secure. Setting Pricing That Reflects Your Value – Ready to price with confidence? We'll discuss why pricing is more than just numbers; it's about valuing your time, effort, and expertise. Communicating Tuition Policies Clearly – Having set policies for absences and refunds can save you financial stress and help families feel secure. We'll cover how to share these policies with care and clarity. Why MicroSchool Masterminds is Your Partner in This Journey Running a microschool means wearing a lot of hats—teacher, marketer, financial planner, and community leader. MicroSchool Masterminds is here to support you every step of the way with tools, insights, and a community of leaders who understand the journey you're on. When you join MicroSchool Masterminds, you'll gain access to: Financial Clarity through Our Money Module – Learn how to budget, set tuition rates, allocate income, and create a solid financial foundation. Pricing and Policy Support – Get guidance on setting prices that reflect your value and creating policies that protect your financial stability. Community of Like-Minded Leaders – Connect with other founders who share your vision and can provide real-time feedback, advice, and encouragement. Clarity on Vision and Leadership – Define your mission, refine your structure, and prepare for 2025 with confidence and purpose. Ready to take your next steps with confidence? Join us at Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching We also invite you to join your new FAVORITE online community full of resources, templates, videos, LIVE Q and A, Group Coaching and New Monthy Content Centered around your Educational Entrepreneurship Needs! Microschool Masterminds, designed to help you start or grow your micro school by maximizing your time, optimizing your finances, and mastering your marketing. Whether you are a seasoned microschool owner or a teacher with a dream, Microschool Masterminds provides a dedicated space to share resources, collaborate with fellow educators, and access expert guidance. Join us as we embark on this journey together. Your dreams are about to take flight. No more fears, no more hesitations. Microschool Masterminds is here to fuel your journey. It's your time. Your destiny awaits. Let's soar together into a future of limitless possibilities. VELA Organization: VELA Education Fund Join our Mastermind Program! Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching Launch and Scale Your Microschool or Homeschool Hybrid by Maximizing Your Time, Optimizing Your Finances and Mastering Your Marketing! With our program, you'll confidently navigate the journey of starting or growing your educational venture, equipped with the tools and support needed to achieve lasting success! Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching Join Our Facebook Group for a supportive community and the “best place on the corner of the internet” Teacher, Let Your Light Shine's Microschool Community | Facebook Book a Clarity Coaching Session: Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching Get started on your dream school right now! Get all the documents you need to jumpstart, market and enroll students! Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching We have step-by-step instructions to help you write powerful marketing brochures, enrollment forms, introductory packets, and so much more! You'll also find easy-to-use templates made to simplify your creation process, as well as beautiful real-life examples used by my micro-school, Lighthouse Learning, to give you creative inspiration when designing your very own forms. You will be able to seal the deal with peace and clarity when you hand deliver your new handbook and contract. Tune in to today's episode to find out more and head over to our shop to purchase your documents at Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching

In this episode of The Patti Brennan Show, guest host Eric Fuhrman, our Chief Planning Officer, joins Patti to discuss the Corporate Transparency Act. This is a very important topic as federal law requires certain companies to report information about their beneficial owners to the U.S. government by January 1st, 2025.  Companies that meet specific criteria must file a Beneficial Ownership Information (BOI) Report within the Financial Crimes Enforcement Network (FinCEN). Don't miss out on this episode of The Patti Brennan Show!  

It's OKAY to use a sole proprietorship for your law firm - here's why. Law firm owner taxed as an s-corp? Want to know the EXACT salary to pay yourself to save on taxes and avoid audit? Click here - https://bigbirdaccounting.com/salary.

In this episode of the Main Street Business Podcast, host Mark J. Kohler explores tax-smart strategies for hiring family members. Learn about hiring children under age 18 without complex tax forms, managing finances through a Family Management Company, and leveraging tax deductions for adult children's education and healthcare. Mark also provides insights on creating bank accounts for family members and making strategic real estate investments.Here are some of the highlights:Mark unpacks the benefits of bringing family members and children into the business, including tax savings, teaching kids about work and business.How kids can do legitimate jobs like shredding paper, cleaning, marketing, etcMark maps out and breaks down the different rules for kids who are 18+ and under 18. Use the  'Trifecta' structure: Operations, Assets, Family Management Company.Tax write-off for college tuition by paying kids to manage propertiesPay kids from LLC, Sole Proprietorship, or S Corp via Family Management CompanyHealth insurance strategy: Kids can qualify for own insurance if earning enoughPotential for significant savings on family health insurance premiums Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

Marco explains the benefits and pitfalls of sole proprietorship, partnership, and corporation business structures so you can choose which best fits your private practice. Episode Show Notes: kayladas.com/episode79 Connect with Marco: Website: daphneclinics.com Email: drmarco@daphneclinics.com Free Boosting Business Community: facebook.com/groups/exclusiveprivatepracticecommunity Our Podcast Sponsor Jane App: kayladas.com/jane When you sign up for Jane App with the promotional code EVASPARE1MO you receive your first month free. Credits & Disclaimers Music by ItsWatR from Pixabay The Designer Practice Podcast and Evaspare Inc. has an affiliate and/or sponsorship relationship for advertisements in our podcast episodes. We receive commission or monetary compensation, at no extra cost to you, when you use our promotional codes and/or check out advertisement links.

Send us a Text Message.This week I'm on Cloud Nine. My eldest is here to share their thoughts on the dreaded dark night of the soul. We also delved into manifesting, and learn about empty-handed magic! You'll remember Nora from their Season One conversation, as well as the art they created for both Curious Cat Podcast AND Cascadia! They have their own ethically sourced, meticulously created handmade art company, Solstice Eve. Find the links and add your name to the mailing list!Hang on after the closing music for another segment of The Curious Queue! Find the links for those articles below!Episode Sources and LinksSolstice Eve Richard Simmons X (Twitter) feedArticles Featured in The Curious Queue! Truckers' Strange Encounters with the UnexplainedAn Odd Case of a Creepy Abandoned Notebook, Bizarre Disappearances, and Strange Mysteries in the Woods from Mysterious UniverseReport YOUR UFO/UAP sighting here!Bigfoot Sightings Reported by Month at BFRO dot netLISTEN TO ONE OF THESE NEXT!Talking Astrology with Nora!ForgivenessI'd love to hear what you think of The Curious Queue - or share a story/subject you'd like me to cover. Click on the, "TEXT THE SHOW" button and share! :)Curious Cat Crew on Socials:Curious Cat on Twitter (X)Curious Cat on InstagramCurious Cat on TikTokArt Director, Nora, has a handmade, ethically-sourced jewelry company!

Donald Capone and John Kvale are with JK Financial based out of Dallas, TX. They join the show today to share how they got started in the financial planning profession, became partners, and have worked together successfully for the last 22 years. If you're interested in building a lasting partnership in financial planning or understanding the dynamics of a successful long-term business relationship, this is an episode for you! Listen in as Donald talks about how financial planning wasn't initially on his radar, his start as an accounting major due to his affinity for math and numbers, and how he connected with John, convincing him to hire him as an intern. John shares his journey from the insurance channel to the broker-dealer channel, and ultimately to the fee-only RIA channel, detailing how he grew the business, why he hired Donald, and how he integrated him into client meetings and positioned him for success. Don't miss hearing how they handle disagreements, their take on whether to pursue the CFP or CFA, and their tips for new planners. You can find show notes and more information by clicking here: https://bit.ly/4bMletj

Contemplating Brady Stueve Consulting after B.S.Agency was “retired” in western MN or better known as #TriStateMSN as it's a Sole Proprietorship in which I'll entertain investors b/c THIS IS A hfs (him/her for sure) kinda “war”! Speaking of which O'biden did something pretty amazing actually lmao!! Paid Ukraine with % from Russian “frozen” assets!!! Yes Please & Thank You. Still voting Trump though I think

Choosing a legal structure for your small business shouldn't be difficult. You just have to know what each entity type can do for you. Today, we're going to talk about sole proprietorship vs. limited liabilty company (LLC). Play chess not checkers. #smallbusinesstaxes #businesstaxes #taxes #tax #taxadvice #smallbusinesstaxstrategy #taxexpert #richpeopletaxes #taxsavings #bigbirdaccounting

Let's dive into why an LLC is generally more beneficial for tax write-offs than a sole proprietorship. Why Choose an LLC? Liability Protection: Safeguard your assets. Tax Flexibility: Benefit from options like S Corp election. Business Credibility: Enhance your branding and build business credit. Both structures allow you to deduct business expenses, but LLC offers extra perks that can significantly boost your tax strategy and overall business growth. Need help deciding which is best for you? Visit www.bigbirdaccounting.com for a free strategy session. At Big Bird Accounting, we do bookkeeping, and we do it well. Talk to you soon! #llc #soleproprietorship #bookkeeping #businesssuccesstips #smallbusiness #entrepreneurlife #bigbirdaccounting

I was thrilled to interview a friend of mine, Nicole Delaney, about her work at the Tribunal and Office of Canonical Services for the Diocese of Phoenix and the role of Canon Law more generally. It was a great conversation.Just a note: in an effort to continue producing high quality content, consistently, I am switching to an audio-only format, for the most part. I might record the occasional video, but editing is very time-intensive for video and, since I have a full-time job, it is far more difficult to find time to record video rather than just audio. So, Good Distinctions presses on, with a slightly different format.Also, I have paused paid subscriptions, as I have restructured from an LLC to a Sole Proprietorship. What does that mean? Not much for you, dear listeners. But if you want to contribute to the show in some way or help me pay for the recording software, please email me at gooddistinctions@gmail.com.--In this conversation, Will Wright interviews Nicole Delaney, JCL, a Canon lawyer for the Diocese of Phoenix. They discuss the importance and purpose of canon law in the Catholic Church. Nicole explains that canon law is the practical application of faith and helps organize and protect the rights and sacraments of the Church. They also touch on the interplay between canon law and civil law, with Nicole highlighting the differences between Roman law and common law systems. Nicole shares the various responsibilities of the Tribunal and the Office of Canonical Services, including handling annulments, religious law, Eastern Catholics, and penal cases. They discuss the training of priests in canon law and the importance of priests having a basic understanding of canon law to carry out their pastoral duties effectively.In this conversation, Nicole Delaney, JCL, emphasizes the importance of understanding canon law and its relationship to theology. She encourages individuals, especially priests and deacons, to study canon law to gain a deeper understanding of the why behind the law. Delaney also discusses the distinction between sin and crime in canon law, highlighting that not all sins are crimes and vice versa. She explains the process of prosecuting crimes in the Church and the role of the promoter of justice. Delaney clarifies the difference between excommunication and not being able to receive communion, emphasizing that excommunication is a penalty for a crime, while not being able to receive communion is a pastoral decision made by the minister of communion. She also addresses the issue of manifest grave sin and the responsibility of the minister of communion to deny the sacrament in such cases.Takeaways* Canon law is the practical application of faith in the Catholic Church, helping to organize and protect the rights and sacraments of the Church.* Canon law is based on Roman law and differs from common law systems.* The Tribunal and the Office of Canonical Services handle various responsibilities, including annulments, religious law, Eastern Catholics, and penal cases.* Priests should have a basic understanding of canon law to effectively carry out their pastoral duties.* The commentary on canon law is a helpful resource for pastoral ministers facing specific situations in their parishes. Studying canon law helps individuals understand the why behind the law and how to apply it in daily life.* Not all sins are crimes in canon law, and not all crimes are sins.* The process of prosecuting crimes in the Church involves a preliminary investigation, interviews, and decisions made by different courts depending on the severity of the crime.* Excommunication is a penalty for a crime, while not being able to receive communion is a pastoral decision made by the minister of communion.* The distinction between sin and crime is important in understanding the Church's approach to discipline and the salvation of souls.Keywordscanon law, Catholic Church, faith, organization, rights, sacraments, civil law, Roman law, common law, Tribunal, Office of Canonical Services, annulments, religious law, Eastern Catholics, penal cases, training, priests, pastoral duties, canon law, theology, sin, crime, prosecution, excommunication, communion, manifest grave sinThanks for listening to Good Distinctions! Subscribe for free to receive new posts and support my work. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.gooddistinctions.com

The S corp tax strategy. Have you heard of it?  This episode is a must-listen for those entrepreneurs whose businesses have crossed the threshold of $50,000 in profits after expenses. Get ready to equip yourself with the knowledge needed to determine if your business is a prime candidate for S corp status and understand the critical timeline for filing the forms that lead to significant tax savings.We explain the additional responsibilities that come with an S-Corp structure, including owner payroll and separate business tax filings. With the March 15th deadline to file Form 2553 looming, we discuss the role of a seasoned CPA who can steer you through the transition seamlessly. Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

In this episode, I had the privilege of speaking with a very knowledgeable trademark small business attorney who shed a ton of light on some common legal questions I hear often from designers.Our conversation included:A detailed explanation of the key elements that should be included in every contract between a graphic designer and their client.A very good and simple explanation of what an LLC is compared to Sole Proprietorship and who should have which.How to avoid getting in trouble legally as a designer for work you have created.Advice for designing logos that avoid legal issues when clients seek to trademark them.How to trademark your client's logo and what you should put in your contract regarding this.What steps you should take to register your business name if a similar name already exists.The legal considerations for clients intending to use logos created with platforms like Canva, especially in regards to copyright and commercial use.What to do when a client completely ghosts you when they owe you money.LINKS FROM EPISODE:Legally Legit Checklist: https://www.lawfullyeveraftercourse.com/Legally%20Legit%20WorkbookWebsite: https://brittanyratelle.com/Creative Contracts: https://creativecontracts.co/YT channel: https://www.youtube.com/channel/UCDArjxoxKxbqWObigQxlqRAIG: https://www.instagram.com/brittanyratelle/MORE ABOUT BRITTANY:Brittany Ratelle is a small business attorney who helps modern entrepreneurs get legally legit. She has helped hundreds of founders protect and grow their brands without getting overwhelmed (or bored) and has worked with the Bucket List Family, Hope Scope, Blogilates, Sharon Says So, Glo Atanmo, Not Enough Nelsons, Dayna Bolden, Emma Arletta, Cake by Courtney, Brianna Battles, and Tracy Litt. Brittany lives with her hunky husband and four kiddos in her beautiful hometown of Coeur d'Alene, Idaho but supports and educates creatives and creators all over the US with a mix of fun and accessible legal resources.*CONNECT WITH ME!* Consistent Clients Blueprint is opening March 12! Sign up for the waitlist here: https://4thecreatives.com/blueprint Website: https://4thecreatives.com YouTube: https://www.youtube.com/4thecreatives Instagram: https://www.instagram.com/4thecreatives/

Laura explains the differences between having a sole proprietorship and an LLC and which option may be best as you launch and grow your business venture.Money Girl is hosted by Laura Adams. A transcript is available at SimplecastHave a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at 302-365-0308.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.Links: https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.facebook.com/MoneyGirlQDThttps://twitter.com/LauraAdamshttps://lauradadams.com/

Ever felt the cold grip of uncertainty choke your ambitions as a business owner? Denise Cagan, CEO of DCA Virtual Business Support, has walked that path and emerged victorious. In a candid chat, she takes us on her journey of transforming a faltering business into a successful venture within a year's span. Her secret weapon? A trio of mentors, coaches, and advisors. Denise also recounts her experience of transitioning from a sole proprietorship to an S corp, a costly error that taught her the value of sound knowledge and resources in making substantial business decisions. Learn from her experiences, avoid the pitfalls, and chart your own course to success. Who is Denise Cagan?   Denise Cagan is the Founder of DCA Virtual Business Support. Her company offers VASuperheros, social media management, graphic design, and website support for growing businesses. Denise Cagan started her first company while still working as a QA Manager at Coca-Cola. After a year of doing both, she moved on to become a full-time business owner at DiCi Services. She grew DiCi for 10 years, selling it in 2011. At that time, Denise established a second and third company. Only one of these remains today, which is her current business. She attributes her success in navigating the business world to her strong operational and management style and being an incredible business advisor. Denise graduated from James Madison University with a BS in Quality Systems Development. Connect with Denise Website: https://dcavirtual.com/ FB: https://www.facebook.com/DCAVirtual/ LinkedIn: https://www.linkedin.com/company/dcavirtual/ IG: https://www.instagram.com/dcavirtual ———— I love connecting with Work at Home RockStars! Reach out on LinkedIn, Instagram, or via email  Website

Bonus episode!This is all about our new S Corp Guide for those planning to switch their Sole Proprietorship or Partnership to an S Corporation. The guide explains: WHEN to switch to an S CorpWHY you should switch to an S CorpHOW to switch to an S CorpWHAT responsibilities S Corps have every year The guide is packed with over 60 pages to help you understand how your taxes will change and why.  The guide will help you understand how your business income is taxed, which is SO important for all business owners to understand! It also contains super handy checklists to help you stay organized with filings and requirements. Check it out here: https://www.whatyourcpawantsyoutoknow.com/products/how-to-convert-your-business-to-an-s-corpHere's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

In this must-listen episode, we're joined by Emma Fitzgerald, a Financial Advisor with a rich background in Applied Economics and an MBA from the Royal Military College of Canada. Emma brings her expertise to demystify the complex world of cash flow, a topic that keeps many entrepreneurs up at night. We'll dive deep into the nuances of Sole Proprietorship vs. Incorporation, explore strategies for effective cash flow management, and discuss the importance of financial planning for small-town entrepreneurs. Emma will also share actionable tips on debt management, how to survive off-peak seasons, and the ideal amount of cash to keep in reserve for emergencies. Whether you're just starting out or looking to take your business to the next level, this episode offers invaluable insights that can help you navigate the financial challenges of entrepreneurship. Don't miss out on this episode filled with practical advice, real-world examples, and Emma's unique perspective on the "soft side" of money management. Tune in for an episode packed with actionable tips and expert advice to help you achieve financial stability and success in your entrepreneurial journey.

     Without question, Jensine Reeder is a lover of all people. The Greenville, SC, resident has a reputation for giving and pouring into others. She has intentionally made limitless connections across the beauty, technology, and nonprofit sectors and provided hope and opportunities while doing so.        Jensine's story reflects the life of someone who has refused to be denied or misled. She shares, “Family has always been important to me. I grew up in Greenville, SC, as the oldest of five siblings, and Southern Baptist ideals shaped my adolescent identity. While the church offered community, support, and love, it also led me to believe that money, specifically desiring money, is bad. I scraped by for years to make ends meet. I hoarded basic supplies like toilet paper and worked tirelessly for less than minimum wage to feed myself and my family. My efforts kept us fed, and we were alive but not truly living. I knew deep in my bones that I was capable of more, and we deserved more.”      Jensine says her career and entrepreneurship journeys taught her that wealth is not inherently evil. “I learned that money is neither good nor bad but simply a tool. What matters is how you use it. Money provides stability and offers opportunities. I wanted to allow my children to pursue their education, dreams, and passions and access the best care and resources money could buy. Furthermore, I never wanted my children to feel the suffocating fear of living paycheck to paycheck. So, I carved out a new career path for myself and climbed from minimum wage jobs to a salaried position,” she says. However, little did she know her journey out of poverty had only begun.      Today, Jensine owns Source Unlimited LLC, a consulting firm dedicated to connecting small businesses, nonprofit organizations, and corporations with the resources necessary to thrive professionally. “We offer nonprofit IT consulting services to ensure data collection procedures are efficient and accompanied by effective workflow processes,” Jensine says. “That enhanced efficiency better positions organizations for additional funding opportunities and enables organizations to tell their stories.”        One of the services offered by The Source Unlimited is Professional Nonprofit IT Consulting. Her goal is to ensure data collection software and procedures are efficient and accompanied by effective workflow processes. “This positions the organization for additional funding opportunities,” she says. Another product offered is Elevation Coaching™, designed for small business professionals, which offers small business establishment for Limited Liability Corporation (LLC), Incorporation (Inc), Sole Proprietorship, and Nonprofit (501(c)(3) establishment. Additionally, they offer coaching with a phased approach to growing their clients' businesses.      Another product offered, which is designed for individuals, is Elevation Coaching™. Jensine asks, “Are you ready for your elevation journey? We offer a process to tap into your highest self and elevate your thinking about yourself, your purpose, and your life!  My services are for anyone with a vision to start or expand their business and who needs guidance, support, and accountability.”       Jensine's creative side is displayed with Goddess Wraps by Jensine™, which was launched in 2021. She hand-makes vibrant satin-lined headwraps with 100% Cotton Ankara fabric lined with high-quality satin. She says the line resulted from her doing some soul-searching and learning what her life's purpose was. Annually, a portion of their sales are donated to organizations that focus on raising awareness about breast cancer and alopecia.  Additionally, Jensine provides virtual and in-person wrap services for photoshoots, date nights, weddings, birthday celebrations, anniversary events, and more.       Jensine says her journey in poverty began in 2012 while working as a paralegal at a private law firm. She overheard a conversation between the attorneys about a client who didn't understand their life of poverty. At that moment, Jensine learned there was a difference between being poor and being in poverty. “I was in shock because, according to my family and friends, I was doing well for myself because I had a good job, a car, and was renting a home. I then researched what career I could transition to in order to increase my income to make enough money to be above the federal poverty line,” she says.      Her next move was returning to college to get her degree in Computer Technology at Greenville Technical College. While being a full-time student, she worked on campus in the Engineering and Technology computer lab, an experience that allowed her to sharpen her skills and gain professional experience. Jensine shares that with the support of her family, friends, and church members, she graduated with honors in 2014 with a degree in Computer Technology.      Continuing her educational journey as a working mother required great personal sacrifice, Jensine confesses, but she was ready to pursue a career in technology. She soon started her consulting business, The Source Unlimited. In no time, doors began to open in her favor. Jensine says, “The United Way of Greenville County was searching for a Database Administrator. I applied and got the contract, and that seven-year opportunity helped me find my niche within the technology field. I also assisted over 222 Greenville County nonprofits with acquiring over $4 million in grant funding.” She was off and running, and The Source Unlimited LLC was birthed in 2014.      Jensine's new career helped her purchase her first home in 2015. “My children and I were so happy to have a place to call home,” she says. Her children also inspired her to share her story with others and pursue public speaking engagements throughout the Upstate community.   When asked what she loves most about her journey in business, Jensine says it's the opportunities she has to mentor entrepreneurs, business owners, executives, and professionals. She enjoys transforming their lives, careers, and mindsets through the power of radical self-discovery, self-care, and self-love. “I also love the opportunity to honor my Afro-Indigenous heritage with Goddess Wraps by Jensine.”      Jensine emphasizes that external success cannot exist without internal success, and when she reflects on the fear, anger, and grief that consumed her at the beginning of her journey, she's overwhelmed with joy. “I cherish and appreciate the peace, prosperity, and stability my family knows now. I am also humbled by the blessings God placed in my life,” she said.      Jensine thanks the members of her community for their constant support. She also thanks her mother for always breathing life into her vision. “Thank you, Mom, for being the wind beneath my wings!”  Her advice to others who may follow in her footsteps is simple. “Life will never be without trials and tribulations, but we are strong, creative, and gifted enough to turn those trials and tribulations into something more. Whether it takes a year, a decade, or multiple decades, you can transform your life. You have everything you need within you to start and succeed.”      The future looks very bright for this savvy businesswoman. Jensine's businesses and brands are growing, and soon she will launch a new men's line at the beginning of 2024. To learn more about The Source Unlimited LLC, please visit their website at www.source864.com   To learn more about Huami Magazine, please visit our website at www.huamimagazine.com  You may also follow us on Facebook and Instagram by putting Huami Magazine in your searchbox.  T

Welcome to Friday 15! In episode 120 Steph chats with Jenn Lee, VP of Industry Engagement and Support for Travel Leaders International about how to go about finding a travel advisor mentor, leveraging your Facebook marketing (page vs. group?), and choosing between Sole Proprietorship and LCC! A list of helpful resources for today's episode: https://hostagencyreviews.com/travelagentchatter/travel-agent-chatter-volume-7-lu-maggiora-travel-by-lu (TAC episode where advisor uses a FB group for her clients) https://youtu.be/jhvwlonYW_s (Jenn's webinar: How to Create a FB Community That Converts) https://youtu.be/QdHEWugusTE (Jenn's webinar: Facebook Content That Converts) https://www.asta.org/professional-development/asta-mentoring-program (ASTA's mentoring program) https://hostagencyreviews.com/events (Find a travel industry event) https://hostagencyreviews.com/blog/make-your-travel-conference-count (Read this before a travel industry event to help you make the most of it!) http://www.wmnswork.com/ (The tourism industry's award-winning business accelerator program for women and non-binary early-stage entrepreneurs.) https://hostagencyreviews.com/hosts/travel-planners-international (TPI's profile on HAR) jennl@tpionline.com (Jenn's contact) https://www.facebook.com/groups/fiercelyforwardtraveladvisors/ (Jenn's Fiercely Forward FB Group) https://travelplannersinternational.com (TPI's email address) Submit your burning question here Har.News/Friday15 and join us this Friday (and every Friday!) at 12CT for travel agent tips!

What type of business structure should you use to limit your taxes and liability?    In this episode, Zacc Call and Laura Hadley discuss various business structures and their implications for your taxes and liability. They explain that most business structures are pass-through entities, except for C corporations which are subject to double taxation.  Plus they delve into sole proprietorships, partnerships, and limited liability corporations (LLCs), highlighting the risks and benefits of each.    Listen to gain insight on:   The different tax implications of Sole Proprietorships, Partnerships, and LLCs & which structure you should use in your business The benefits of S Corporations in your business structure How these different structures affect your liability (how to protect your assets if you get involved in a lawsuit!) The process of opting out of or back into Social Security as a self-employed individual And more   Connect with Capita Financial Network:   info@capitamail.com tfc@capitamail.com (801) 566-5058 Capita Financial Network LinkedIn: Zaccary Call  LinkedIn: Laura Hadley LinkedIn: Capita Financial Network Facebook: Capita Financial Network

If you started a business and didn't file any paperwork, what type of business are you??? Do you know???The IRS will automatically classify your business as a sole proprietorship and that you  will file the business income and expenses on Schedule C of your personal tax return. So not much will change except for your tax return!  If you filed an LLC, you can still be classified as a Sole Proprietorship. You will have some additional filing requirements for the state you filed the LLC in. In this episode we discuss:Do you need an EIN for your sole proprietorship?What expenses can you deduct (i.e. save $$ in taxes)?How do you file your business taxes?What other filing requirements do sole proprietors have?Can you be an LLC and a sole proprietorship?If you are new to owning a business, this episode is a perfect place to start educating yourself on paying taxes as a business owner! Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Episode 31:  In this episode, Timalyn focuses on preventative care for business owners.  Today, she'll focus on sole proprietor taxes.  She reminds her audience that over 90% of the clients she works with, who owe back taxes they can't pay, are business owners.  Many of these clients are single-member LLCs, also referred to as sole proprietors.  Let's listen to Timalyn as she continues her mission to fill the tax literacy gap, one taxpayer at a time. Spotting the Red Flag Timalyn begins by commenting about a common question she receives.  “I've filed my personal taxes, but can you file the tax returns for my business?”  This is a red flag.  Individual tax returns are due in April, but returns for a some corporations and partnership are due earlier.  If the person asking the question is a single-member LLC, the tax information related to the sole proprietorship should have been filed as part of the individual tax returns. What is a Sole Proprietorship? This classification refers to any business that's unincorporated.  Any individual who sets up an unincorporated business is considered to be a sole proprietor.  This would apply to an Uber or Lyft driver and many other types of individuals exchanging services for payment.  Many people don't actually realize they are a business, for tax purposes.  This can lead to confusion and potential problems down the road. What's the Difference Between a Sole Proprietorship and an LLC? A Limited Liability Company (LLC) is a state-designation.  There's no actual advantage relative to federal taxes when you're a single-member LLC.    A single-member LLC is the same as a sole proprietorship, at the federal level.  It changes if there are multiple members of the LLC. Timalyn explains the Federal 1040 tax form is used for both individuals and single-member LLCs.  However, the LLC will also file the IRS Schedule C, as part of the tax return.  This is what she referred to at the beginning regarding a red flag.  There is no separate tax return for a single-member LLC (also known as a sole proprietorship). The IRS Schedule SE is also an integral part of the tax return.  This is the form used to calculate the self-employment tax liability.  Timalyn recorded an episode on self-employment tax.  You can also watch her YouTube video explaining how to calculate the self-employment tax liability.  It's roughly 15.3% of income of your net income.  The tax rate for a sole proprietor is directly related to the tax rate for the individual's ordinary income.  You can use IRS Form 1040-ES to calculate your quarterly estimated tax payments.  Timalyn explains quarterly estimated tax payments in Episode 21.  If you're going to have a tax liability of $1,000 or more, you're required to make these payments.  Remember, we have a pay as you go system.  It has nothing to do with whether you received a tax refund last year.  If you make more than the IRS standard deduction, you're going to have a tax liability.  A Quick Tip for W-2 earners with a Side Hustle One way to deal with the issue of quarterly tax payments is to adjust your withholdings taken out of your W2-based paycheck.  This can relieve the pressure of having to make these manual payments.  Remember, if you're a sole proprietor this business income and your W2 earnings all go into the same pot for tax purposes.  For more information on filling out the IRS 1040-ES, watch Timalyn's YouTube video. State Obligations with a Single-Member LLC So far, Timalyn has focused on federal taxes.  Now, let's briefly transition to state taxes.  She uses Kentucky as a basis for the following information.  It's important to note that each state is different, so check with your state's Department of Revenue.  Kentucky requires single-member LLCs to submit an Annual Report by June 30th of each year.  This enables you to update or confirm basic information about your business.  In Kentucky, it also requires a $15 fee as of the time of this recording.    Kentucky single-member LLCs also include the Kentucky Form 725 with their end-of-year tax returns.  The current fee is $175.  Additionally, you may also have local tax requirements. Be sure to check with your local tax authority.  In the Louisville area, it's the Metro Louisville Revenue Commission.  Louisville requires businesses to submit Form OL-3, which is an occupational license.  The tax rate is 2.2% on your net profit.    In summary, single-member LLCs are sole proprietors and have specific forms required for taxes.  Rather than trying to know everything you need to know about taxes, Timalyn recommends you work with a qualified tax professional whom you trust.  They will be able to make sure the proper forms are accurately completed.  If you'd like help determining which type of tax professional to hire, please listen to Episode 23 and Episode 16. If you'd like to learn more, consider purchasing Timalyn's course:  Business Taxes 101.  She'll teach you about the other business entities and the obligations required for each.  Please consider sharing this episode with your friends and family.  There are many people dealing with tax issues, and you may not know about it.  This information might be helpful to someone who really needs it.  After all, back taxes shouldn't ruin their life either.   As we conclude Episode 31, we encourage you to connect with Timalyn on social media. You'll be able to subscribe to this podcast on Spotify, Apple Podcasts, Google Podcasts, and many other podcast platforms.   Remember, Timalyn Bowens is America's Favorite EA and she's here to fill the tax literacy gap, one taxpayer at a time.  Thanks for listening to today's episode. For more information about tax relief options, visit https://www.Bowenstaxsolutions.com/ . If you have any feedback, or suggestions for an upcoming episode topic, please submit them here:  https://www.americasfavoriteea.com/contact.   Disclaimer:  This podcast is for informational and educational purposes only.  It provides a framework and possible solutions for solving your tax problems, but it is not legally binding.  Please consult your tax professional regarding your specific tax situation.

What's the best structure for your business between a Limited Liability Company (LLC) and a Sole Proprietorship? Join your hosts Dave Hamilton and Shannon Jean as they talk about their experiences with both structures. What are the pros and cons to forming an LLC? What are the risks and obligations […] The post LLC or Sole Proprietor – What's Right For Your Business? Business Brain 420 appeared first on Business Brain - The Entrepreneurs' Podcast.

I want to start a school, but where in the world do I begin? Oh the pain of "not knowing how to set this up"!  I get it! So you want to start a school, but you are concerned about all the legal things!  Totally understandable!  So let's begin with what to consider as you decide Between LLC, Non-Profit, Private, or Sole Proprietorship!  These are foundational and will wipe away the cobwebs real quick!   And I see you over there...wishing you were brave enough to do the thing, start a school and break free from the fear!  Me too!! Let's do it together! Leave us an Apple Podcast Review and we will put you in the drawing for a FREE book by Annie F. Downs: 100 Days to Brave.  I'm giving away 5 free books and I hope you are the one it goes to! Thank you for taking the time to leave us an Apple Podcast Review!!   Let Your Light Shine, Makenzie Oliver Join Our Facebook Group for “Tip Tuesdays”, a support community and the “best place on the internet corner” https://www.facebook.com/groups/teacherletyourlightshine Marketing Materials: www.teachersletyourlightshine.com/shop Book a Clarity Coaching Session: www.teachersletyourlightshine.com/coaching Get started on your dream school right now! Get all the documents you need to jumpstart, market and enroll students! www.teachersletyourlightshine.com/shop  We have step-by-step instructions to help you write powerful marketing brochures, enrollment forms, introductory packets, and so much more! You'll also find easy-to-use templates made to simplify your creation process, as well as beautiful real-life examples used by my micro-school, Lighthouse Learning, to give you creative inspiration when designing your very own forms.  You will be able to seal the deal with peace and clarity when you hand deliver your new handbook and contract.  Tune in to today's episode to find out more and head over to our shop to purchase your documents at teachersletyourlightshine.com/shop   Coaching: https://teachersletyourlightshine.com/coaching Do you need help with a plan of action, accountability,  or clarity in your teacher career change? Interested in starting a micro-school, tutoring or homeschooling business?  Don't know where to start? Wanting to make a change but have no idea where to begin or what the change would even look like?  It's time to get "unstuck", have a plan and gain your much needed clarity  so you can experience teacher career growth, build a business blueprint, market with clear messaging, and plan a successful business launch-whether it's a micro-school, tutoring business or homeschooling business.  Click below to learn more… Connect with me on Instagram: @Teacherletyourlightshine Follow us on Pinterest: https://www.pinterest.com/teacherletyourlightshine Join our email list to be the FIRST to know about our FREE Resources and podcast alerts! Teachersletyourlightshine.com Want to chat? Have some questions? I'd love to hear from you! Send an Email: teacherletyourlightshine@gmail.com Or send me a message on Facebook or Instagram Twitter: @teacher_light Check out Our School on Facebook: https://www.facebook.com/lighthouselearningmicroschool Book a Clarity Coaching Session today: www.teachersletyourlightshine.com/coaching

Dave Ramsey & Kristina Ellis discuss: Sole Proprietorship vs. C-corp businesses, Affording to buy a house in this market, When your credit score goes to zero after paying off debt, Why married couples tend to be wealthier than couples who cohabitate https://www.wsj.com/articles/moving-in-together-doesnt-match-the-financial-benefits-of-marriage-but-why-11667761626 Support Our Sponsor: Zander Insurance Christian Healthcare Ministries Splash Financial Gazelle – Terms & Conditions Apply. Visit www.ramseysolutions.com/gazelle for more information. Established by Pathward, N.A., Member FDIC. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

When starting a small business like a handyman service, HVAC business, or other local service business, one of the first things you must do is choose between a Sole Proprietorship or an LLC for your legal business structure (aka business entity). This is an important decision because it affects how much you pay in taxes, […] The post Sole Proprietorship vs LLC – The Best Entity for Service-Based Businesses appeared first on Handyman Startup.

No, friends, it's not a recipe for alphabet soup! It's all about setting a firm foundation for your business! In this episode, I discuss: The difference between a sole proprietorship and an LLC How they differ in terms of your personal asset protection How they affect your bottom line tax-wise When to set up an LLC, and how (it's not as hard as you'd think!) The answer to the question: do I need a lawyer to do this? Finding your State's Secretary of State (and I walk you through a sample set-up) How to set up an EIN or FEIN (and do I really need one of those?) And, finally, your “homework” - Google “register for an LLC in (your State here)” and find the application (really, it's that simple - just find the application!)   EIN Application website: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online   But that's a lot of information for you, so let's get started! Find my show notes on: ericagoode.com Reach out on social media and say "Hi!" on IG - @erica.goode.cpa Or on LinkedIn: Erica Goode, CPA Podcast Review Giveaway Between now and Oct 21st, leave an Apple Podcast review for Coaches, Consultants, and Money and be entered to win: $100 gift card on Amazon AND 1-hour Strategy Session with me! How to enter: Complete a podcast review on Apple Podcast Complete an entry form here Full Giveaway Details: Apple reviews must be entered by October 21, 2022 and complete an entry form here. Giveaway limited to the first 50 entrants. Immediate family members of Erica Goode are not eligible to win. 1-hour Strategy Session can not be used for filing tax or legal documents with any federal or state filing agency.  

Which business entity is right for you? Tune in to find out!    Episode Introduction:  In this week's episode of Law Chat with Girija, we're talking about four different business “entities” and how each of them differs from one another as well as how to determine the right one for your business.   Episode Summary:  Girija Patel walks us through the differences between a Sole Proprietorship, an LLC, a DBA, and an S-Corp. Evaluate as you listen along to find the best fit for your company.   Main Takeaways: Sole Proprietorship:  It is the default setting when you start a new business. It has very little paperwork needs. There's a huge exposure to personal liability. It isn't classified as an entity per se.   Limited Liability Company (LLC): It is classified as a legal entity. An LLC can be filed online. A basic name search is done while filing.   Doing Business As (DBA): Also known as “Assumed Name”. It is to be filed in your county of business.   S-Corp: It is a tax classification. It isn't classified as a business entity. An LLC can register to be an S-Corp too.   Resources:  Sole Proprietor vs. LLC Free Downloadable: https://yourcontractbuddy.com/5-day-free-legal-audit-challenge/   Learn How to do a FREE Name Search Online: https://youtu.be/YovEBj7hXbk   Help us mentor other entrepreneurs through the power of storytelling by rating us and leaving a positive review on Apple Podcasts: https://podcasts.apple.com/us/podcast/law-chat-with-girija/id1528580730   Get the FREE Five-Day Legal Audit: https://yourcontractbuddy.com/5-day-free-legal-audit-challenge/   Join Law Chat for Entrepreneurs Free Facebook Community: https://www.facebook.com/groups/lawchat/   Get the visual experience, watch the videocast for this episode: https://youtu.be/dqDQhE7A2ek   Connect With Girija: Website: https://www.gbplaw.com/ Instagram: https://www.instagram.com/gbplaw/ Facebook: https://www.facebook.com/GBPLaw/   Get Ready To Use Contract Templates At: https://yourcontractbuddy.com/

ROYAL LEGAL SOLUTIONS Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.*********************************************************************************MEET THE HOSTSScott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.Megan Templeton, Esq. Megan Templeton is from Birmingham, Alabama. She attended Auburn University and graduated in three years with a Bachelor's in Psychology. While attending Auburn University, Megan was actively involved in the Auburn Honors College and Omega Phi Alpha, a service sorority. Upon graduation from Auburn University, she pursued her Juris Doctorate from Samford University's Cumberland School of Law and her Master's of Public Administration from the University of Alabama at Birmingham. Megan obtained both her JD and MPA in December 2015. Megan's previous law positions have included clerk at the U.S. Attorney's Office of the Northern District of Alabama, manager of a closing and title company, and currently the owner and principal attorney of Iron City Law, a boutique law firm in Birmingham, AL serving small businesses and the real estate community.*********************************************************************************KEY TAKEAWAYSRoyal Legal Solution's CFO, Pete Schindele, led an informal discussion about appropriate entity selection for real estate investors to maximize tax savings. Many people start out as a Sole Proprietorship that sets up an LLC for asset protection from personal loss. As your business grows, you will find that an S Corporation or C Corporation may be more beneficial to lower your tax burden by avoiding the self-employment tax. Pete shared a simple cost benefit analysis guideline to help determine which entity structure is the best relative to current business size or earned income. Also, learn how your decision may be affected depending on if your income is active or passive.Want a refresher or to see what you missed? Watch the replay. REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.*********************************************************************************ENGAGE WITH USAre you ready to take action on Asset Protection, Tax Strategy, or Estate Planning? Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0*********************************************************************************DISCORD COMMUNITYhttps://discord.gg/KKS7rZG5kM*********************************************************************************WEBSITE: http://royallegalsolutions.comLINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith https://www.linkedin.com/in/scott-royal-smith/ FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/

Sole Proprietorship Vs. LLC. A sole proprietorship is when an entrepreneur owns and operates an unincorporated business by himself or herself. Sole proprietors are personally liable for any debts or challenges that the business incurs. They are the easiest business structure to start and operate. The typical businesses that operate as sole proprietors are individuals, and small informal businesses. Want to know more? Stay tuned and listen the podcast! This podcast was based on an exclusive Vetted Biz analysis, click here for the full report: https://www.vettedbiz.com/sole-proprietorship-vs-llc-2/ Need help finding the right franchise? Click here: https://www.vettedbiz.com/franchise-search/ 00:00 Introduction 00:37 What is a Sole Proprietorship? 01:25 What is an LLC? 02:16 Benefits to an LLC 02:53 Disadvantages of an LLC 04:30 Sole Proprietorship Benefits 05:45 Sole Proprietorship Disadvantages 06:58 Google Example 07:26 Conclusion #SoleProprietorshipVsLLC #FranchiseFindings If you are looking for more information, you can connect with us through our networks: https://www.vettedbiz.com/ https://www.linkedin.com/company/vettedbiz/ https://www.facebook.com/vettedbiz https://www.tiktok.com/@businessandfranchiseinus

Discussing the challenges of sole proprietorship and the many "hats" you have to wear to succeed. 

This week, I explain the privacy benefits of a sole proprietorship with corresponding EIN. Direct support for this podcast comes from our privacy services, online training, and new books for 2022: Extreme Privacy (4th Edition) and  Open Source Intelligence Techniques (9th Edition). More details can be found at IntelTechniques.com. Thank you for keeping this show ad-free and sponsor-free. Listen to PAST episodes at https://inteltechniques.com/podcast.html SHOW NOTES: INTRO: My Week THE SOLE PROPRIETORSHIP: Business purpose Privacy purpose Hurdles Taxes Aged DBAs Banking Linux Listener Questions Free Guides: https://inteltechniques.com/links.html Affiliate Links: Extreme Privacy (4th): https://amzn.to/3D6aiXp ProtonMail: https://go.getproton.me/aff_c?offer_id=7&aff_id=1519 ProtonVPN: https://go.getproton.me/aff_c?offer_id=26&aff_id=1519&url_id=277 PIA Dedicated IP VPN: https://www.privateinternetaccess.com/ThePSOSHOW SimpleLogin Masked Email: https://simplelogin.io?slref=osint Silent Pocket Bags & Wallets: https://slnt.com/discount/IntelTechniques

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Curtis Anderson discusses the common mistakes entrepreneurs make and how to avoid them. He also teaches the pros and cons of the different types of entities an entrepreneur may choose to form (i.e. C-Corp, S-Corp, LLC, LLP, Sole Proprietorship). Curtis is a former partner at Baker Botts and former General Council of Match Group, a company that has had a market cap in excess of 50 billion. Curtis is currently a transactional law professor at Brigham Young University. . If you enjoyed this video please rate it a 5 Star. If you find it helpful subscribe and share it with friends who would find it enjoyable. It would mean a lot to me. . Apple Podcast: https://podcasts.apple.com/us/podcast/the-jason-walton-live-it-podcast/id1616737862 YouTube: https://www.youtube.com/channel/UC-yoPEI23lo41ioZi_OedaQ

Interested in starting your own business and getting out of the 9-5 rut? This week we host a very special guest, "E", who started his own consulting business in the entertainment industry. We cover the best lessons that he has learned throughout the process, taxation implications for small businesses, benefits of a LLC vs. Sole Proprietorship and how to become a reputable business. IG/Twitter/FB: @20isthenew30Email: twentyisthenewthirty@gmail.com

In this episode, we're diving into tax strategies right before filing season. So these three tax strategies that we're going to go over are going to apply to all you fitness entrepreneurs, whether you're an LLC, Sole Proprietorship or an S-corp. Link to Beast Mode Money Bootcamp

Andrew Jordan returns to teach us the best way to structure a photography business from a tax perspective. Resources Mentioned SFP Mastermind Group Big Picture CPA The post SFPP 197: Sole Proprietorship vs LLC Featuring Andrew Jordan appeared first on Six Figure Photography.

Going into business with your partner isn't always a bad idea. In fact, sometimes the two halves of a couple have beautifully complementary skills—especially when we're talking real estate. There's a reason HGTV leans so heavily on husband-and-wife pairs.Your business certainly doesn't need to be as linear as “the wife's the designer, the husband's the accountant.” Maybe your husband has a keen eye for bedroom layouts, or your wife's eager to run the books. Either way, it might make sense to join up.But how? In some situations, a married couple who runs a business might not want to officially form a legal entity. Under these circumstances, can a business run by two spouses qualify as a sole proprietorship? (Read more at https://www.biggerpockets.com/blog/sole-proprietorship-spouse)See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most frequent question I get asked on TikTok is “How do I turn my sole proprietorship into an LLC?” and it makes sense. LLCs or Limited Liability Corporations protect the entrepreneur's personal assets from liability in the event of legal issues involving their work and are a very common tool for business owners. If you've been thinking of converting your solo work into an LLC, this episode is for you!In this episode, we discuss: The meaning of Sole Proprietorship and LLCThe steps to take your business to the next levelThe benefits of incorporating as an LLCDo you have a solo gig that you are looking to transform into an LLC? Screenshot this and tag me in your Instagram Stories @andreasagerlaw! Plus, follow our new IG, @legalpreneur! Do YOU want to apply to be part of the Legalpreneur Affiliate Program? Go to www.TheLegalpreneur.com and click on the Affiliate Program link at the bottom of the page! Links: Instagram Website FacebookTwitter TikTokDisclaimer: The Legalpreneur Podcast is advertising/marketing material. It is not legal advice. Please consult with your attorney on these topics. Copyright Andrea Sager Law 2022