Even when the money's there, if the entrepreneur lacks the confidence in their endeavor, the business will fail.
“…surround yourself with the right people that will help you build your startup.”
“I thought I didn’t want to be an accountant, but as time went on I kept an open mind and after learning more about it, I realized that that is exactly what I wanted to be.”
Taxfyle: Where are you talking to us from?
“I will definitely state that if you have two or more business owners involved, that a competent local business lawyer should be involved in creating your LLC, and in drafting your related legal documents.”
“Cash is king, and you must absolutely monitor your cash flow. Starting out, you should know where every single penny is coming from and going.”
Taxfyle: Where are you from?
This lowering of SE taxes may not really be the best reason to incorporate but often it’s the most visible tax benefit
“An initial consultation should occur very early. I don’t think start-ups need to fully figure out their financial reporting and accounting procedures right off the bat, but talking to a CPA can help them get on the right track.”
Victor joined Taxfyle this year. He previously worked for the IRS for six years and now has his own practice that focuses primarily on taxes.
“Even though I have my own practice now, I will say this about the IRS: my experience there was invaluable. With all the…
Melinda is a 43 year old entrepreneur. She is from Detroit, Michigan and received her education there from elementary school to graduate school. These days, she has her own firm with her own practice out of Houston, Texas where she specializes in state taxes for…
All of a sudden an Uber driver, for example, would be considered self-employed and is now required to file a Schedule C with their tax return.
