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10. Help! I'm Starting a Business

Questioning Your Cents

Release Date: 04/05/2021

10. Help! I'm Starting a Business show art 10. Help! I'm Starting a Business

Questioning Your Cents

Welcome to Questioning Your Cents where you can get your real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

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9. When Should You Amend Your Tax Return show art 9. When Should You Amend Your Tax Return

Questioning Your Cents

Welcome to Questioning Your Cents where you can get real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

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8. Tax Season Update show art 8. Tax Season Update

Questioning Your Cents

Important Points:

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7. Tax Deadlines, Extensions, and Penalties show art 7. Tax Deadlines, Extensions, and Penalties

Questioning Your Cents

Our job is to help educate you on how to manage your money and save on taxes. In this episode, tax deadlines, penalties and extensions.

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6. Hiring a Tax Advisor: Insider Secrets show art 6. Hiring a Tax Advisor: Insider Secrets

Questioning Your Cents

Welcome to Questioning Your Cents where you can get real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

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5. Tax Me If You Can show art 5. Tax Me If You Can

Questioning Your Cents

● Tax Deductions

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4. Looking Forward and Looking Back show art 4. Looking Forward and Looking Back

Questioning Your Cents

Welcome to Questioning Your Cents where you can get your real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

info_outline
3. Rich Retirement Planning show art 3. Rich Retirement Planning

Questioning Your Cents

Welcome to Questioning Your Cents where you can get your real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

info_outline
2. Questioning Their Cents: The Federal Government show art 2. Questioning Their Cents: The Federal Government

Questioning Your Cents

Our job is to help educate you on how to manage your money and save taxes. In this episode, we question the cents of the Federal Government.

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1. History of Taxes show art 1. History of Taxes

Questioning Your Cents

Welcome to Questioning Your Cents where you can get your real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

info_outline
 
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Help! I’m Starting a Business

Welcome to Questioning Your Cents where you can get your real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.

We are your host Kevin Molen and Charles Steinmetz. Our job is to help education you on how to manage your money and save taxes. In this episode, we will discuss tax and financial considerations when starting a business.

 

Important Points:

Intro

Sole proprietor vs. multi member business differences

Why are you starting a business?

Most business owners are skilled service providers

Are you good at “business” or just the product or service you provide?

How are businesses like dishes?

Why you need to know your financial numbers

Do you have to do everything in your business? No!

Work your strengths and hire out your weaknesses

Do you need an LLC? When should you set on up?

Why do people set up an LLC? 1. My friend told me to 2. To get a tax ID number 3. Legitimacy 4. Liability protection

Does an LLC truly give me legal liability protection?

What are the major types of businesses?

  • Schedule C or Sole Proprietor
  • Partnership
  • S Corp
  • Corporation

How are different businesses taxed?

How do self employment taxes work?

What is a pass through entity?

Partnership have more flexibility but there are still self employment taxes

S Corps normally have preferential tax treatment, but more hoops to jump through

What is double taxation for C-Corporations?

When is it worth it to set up an S-Corp?

How do I pay employees?

What is the difference between an independent contractor and an employee?

New 2020 1099 form for independent contractors 1099 NEC

Why you shouldn’t mix personal and business expenses

Why is a good paper trail needed?

Is it better to pay more in taxes or be more profitable?

Comfort Zone:

Can I still deduct charitable contributions?

5 types of itemized deductions: 1. Medical expenses 2. Sales tax 3. Property tax 4. Mortgage interest 5. Charitable donations

Ouro

 

Contact us:

[email protected]

281-440-6279

 

Find us on social media:

https://www.facebook.com/molentax

https://www.instagram.com/molen.tax/

https://www.youtube.com/channel/UCTHFFst-BRli8M_aTyXhAuw

https://www.linkedin.com/company/molen-&-associates

https://twitter.com/molentax

https://www.molentax.com

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