#68: Should I create an LLC/S-corp/B-corp/other/nothing? Part 1
Episode 68: Should I create an LLC/S-corp/B-corp/other/nothing? Part 1
Join Josh and Amelie to discuss entities! Should I form an LLC or an S-Corp or…what?!
- The answer is always “it depends,” and in this case, one of the things it depends on is how much you have to protect.
- Talk to an attorney or a financial advisor who specializes in small businesses, and make sure you have a CPA to make sure your LLC or S-corp business taxes are structured correctly.
- In some states, a single-member LLC provides 0 liability protection.
- An entity structure is the last line of defense (after insurance ((which doesn’t really exist for financial coaches yet)), having a personalized contract that an attorney made for you, and data security practices).
- Moving from sole proprietorship to S-Corp depends on your personal income and has tax and social security benefit implications.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
- Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
- Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
- Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
- Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
- Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow