Episode 33: Basic Entity Structuring
Real Business Owners
Trevor Cowley
4.9 • 713 Ratings
🗓️ 15 January 2020
⏱️ 40 minutes
🧾️ Download transcript
Summary
In this episode, we cover basic entity structuring and what to look for in a tax consultant. It might not be the sexiest subject, but this is the real, actionable stuff that can make a huge difference for you, the listener! As always, feel free to contact us through direct message on Instagram or by calling Easier Accounting with any tax or entity-related questions!
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Transcript
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| 0:00.0 | Real business owners. |
| 0:03.1 | Welcome back to the Real Business Owners podcast. |
| 0:05.9 | This is episode 33 with myself, Trevor Cowley, with the man, the myth, the legend, Kell Goodman. |
| 0:12.8 | What's up? |
| 0:14.2 | Kel's probably going to do the majority of the talking today. |
| 0:16.8 | You know, he's much smarter than I am when it comes to some of the stuff that we're going to talk about. |
| 0:21.7 | You know, he does speak at events and stuff like that as well in regards to, you know, entity structures in regards to, you know, some tax planning stuff, kind of giving some tips and hints on some things that people could do to put themselves in a better situation financially through, you know, tax |
| 0:39.4 | strategies. And I know that we already did an episode on some tax strategies. And we had an offer at |
| 0:45.4 | the end where we did a tax plan and, you know, some people took advantage of it. But we did get a lot of |
| 0:50.6 | messages of people saying, man, I really liked the information that you guys |
| 0:54.5 | were giving in that. If you can do more podcasts around, you know, money or structures or just |
| 1:01.5 | in business in general. And we thought because of some of the questions we've received |
| 1:06.1 | lately that it would be a good thing to address this right now. |
| 1:15.9 | You guys, if you're an employee, you're about to get your W-9s, if you haven't already got it, |
| 1:17.4 | so that you could file your tax return. |
| 1:21.7 | W-2s, sorry about that, W-9s for 1099 people. |
| 1:23.0 | Yeah. Yeah, your W-2 so that you can file your tax return. |
| 1:25.9 | And I got hit up just today of somebody asking if H&R Block really does things the right way or if there's things that they might miss and |
| 1:37.3 | This individual was a W2 you know wage earner right an employee didn't own a. Sure. And would I advise an entrepreneur to go to H&R Block? |
| 1:47.1 | Yeah. |
| 1:47.3 | No. |
| 1:48.5 | You know, they're basically going to take what they're given and punch in numbers. |
... |
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