If you're running a business, it's a pretty smart move to keep your business and your personal finances separate. In fact, if you have a formal business set up, like an s-corp or LLC, you are required to by law. Keep it separate and don't commit fraud, kids.
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Clarity in the New Year. /
The start of a New Year is a beautiful time. It's full of potential; a natural inflection point; a pause. Whether it's true or not, it feels like everyone is focused on reflection and intention. We're all making space for ourselves and with that comes giving space to others. And that space allows us clarity, if we choose to seek it.
Read MoreHow to Finance Your Company: Know Your Options /
How you will finance your company is an important decision. Financing will impact how you operate and how you make decisions. For example, a company financed by the founder's personal savings will operate differently than a company that has received funding from venture capital investors.
Read MoreWhy You Need Year-End Tax Planning with Your Accountant /
Full disclosure: I'm not an accountant. I just get to hang out with them, which makes me dangerous to myself and others. This isn't tax advice. It's advice to seek tax advice.
We should all show our accountants some love. They bust their asses reading, interpreting and applying the tax laws. They file our taxes. They walk through the fire of dealing with the IRS and other tax authorities. And they help us at the end of the year with tax planning.
Read MoreAccountant vs. Bookkeeper. Know The Difference. /
Not all accountants are bookkeepers and not all bookkeepers are accountants. Each play a role vital to your business. Both bookkeeping and accounting rely on each other and share a common goal, but the processes for each varies.
Read MoreEnrolled Agent vs. CPA. Know The Difference. /
When I started my career in consulting, I started to meet people with the title Enrolled Agent. As if the tax code isn't confusing enough, I discovered another layer of WTF when it came to the people who help prepare and file tax returns. Which lead me to ask myself, "What's the difference between an Enrolled Agent and a CPA?"
Read MoreWTF Are Investments? Part 1: About The Series /
Flowchart: How To Form A Business /
We've started and/or helped start many a business. The bureaucratic process is not that thrilling and we haven't found a body of knowledge that lays out all the administrative bullshit you need to know. So we did it for you. Here's an interactive flowchart that breaks down the administrative steps to start your business.
Read MoreWhen Should You Set Up an LLC (or S-Corp)? /
If you're a freelancer, you're probably wondering when you should setup a formal entity. "A formal entity" is a legally formed business, like an LLC or S-Corp.
Read MoreBusiness Is A Creative Process /
I'm lucky I get to meet so many creative business owners and freelancers. More often than not, when they share their creative process with me, the way that they speak is beyond passionate, it's waxing rhapsodic.
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