Having an attorney or incorporation service set up your LLC is expensive and time-consuming. I’ll show you how easy it is to do it yourself and save a bunch of money, plus explain why you have to pay close attention to your tax situation.
The money in a business account is for business expenses. Your personal money is for personal expenses. Mix the two and you ask for trouble!
Paying taxes sucks. It sucks worse when someone filed the wrong forms resulting in duplicate income being reported to the IRS and you receive a letter saying you owe even more. Here is what you should do to resolve that issue.
It costs money to accept credit card payments. But the flip side of not having a merchant services account for your small business in even more costly.
You may not know it, but you may be paying your accountant for something you shouldn’t be and also it makes the freelancers you work with very angry!
Being self-employed makes taxes complicated. Being location independent is even harder. This may help clear up some of the confusion.