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STARTING SOMETHING?

If you want to start a new business, but don't know where to start, start here.

 

When I launched my company, I met with CPAs, tax attorneys, and a number of other professionals. They were experts in their field, and they were able to help, but only in a very narrow and specific capacity (and at a very steep price!). What I really needed in those early days was not someone who had deep knowledge in a very narrow field, but rather someone with extraordinary breadth of knowledge across every topic that was on my mind:

  • Should I have an LLC? S-corp? C-corp? Why or why not?

  • How much should I pay myself? Why does the IRS care, and what might it cost me if I get it wrong?

  • What's the QBI deduction and can I qualify for it?

  • How do I set up a 401k? Can I save even more for retirement if I set up a pension, and what does that lock me into? What are the implications for my company's 401k match if I have both? Should I set up a mega backdoor Roth? (What even is that?)

  • How do I set up payroll? How do I ensure deductions are taken care of? How do I ensure taxes are accurately reported?

  • How do I handle the accounting side? Do I need Quickbooks?

  • Can I really "write off everything" when I have my own business? Will the IRS consider fringe benefits as income? What pitfalls do I need to be aware of?

  • How do I set up a health plan? What are the tax implications, and how do they change based upon business structure? Why should I get off COBRA as soon as possible? How can I qualify for an HSA, and how do I set it up?

  • If I'm working internationally, what do I need to know about the foreign earned income exclusion, housing credits, social security totalization agreements and other important topics?

  • What is this all going to cost me?

Let's be clear. I'm not a CPA. I'm not a lawyer. What I am is a successful entrepreneur who has been through all of the above and more. Had I been able to talk to "future me" for a half hour before I began my entrepreneurial journey, the ride would have been a lot smoother. I would have spent far less and I would have been up and running more quickly.

In short, I spent thousands of dollars so that you don't have to. If you'd like to connect with someone who has "been there, done that" and can help you take your first steps, book below! 

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