How to Start a Business the RIGHT Way!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 20 November 2024

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

"I would love to hear the money guys talk about starting a business and what the boiling point is to set up an official LLC, give similar FOO advice for business financials, etc." We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is presented by eBay.
0:03.8	Rob, everyone loves a deal and a bargain from time to time, don't they?
0:07.8	Absolutely, mate. And do you know where you can grab a great deal? Talk to me. Where?
0:11.9	The eBay app. Yes, you are correct. You didn't need to talk to me. I already knew it. I love eBay.
0:17.2	When you're buying, you can discover loads of hidden gems. There's so many items where you think I would have never found that anywhere else.
0:23.7	Then when you're selling it's so simple and most importantly, free. It's free, Rob. When it's this easy to sell for free and there's great deals on things you love. You can't help but say when it's eBay. It excludes vehicles and business sellers.
0:39.0	Race the rudder. Raise the rudder. Raise the sales. Raise the sales. Captain and unidentified chip approaching.
0:44.8	Over. Roger that. Wait. Is that an enterprise sales solution? Reach sales professionals,
0:51.7	not professional sailors. With LinkedIn ads, you can target the right people by industry, job title, and more.
0:56.7	Start converting your B2B audience into high quality leads today.
1:00.1	Spend £200 on your first campaign and get a £200 credit for the next one.
1:03.9	Go to LinkedIn.com slash lead to claim your offer.
1:06.7	Terms and conditions apply.
1:14.8	Um, Terms and conditions apply. Robert's question is next in the queue.
1:17.6	He says, I would love to hear the money guys talk about starting a business and what the boil point is to set up an official LLC and give some similar advice, uh, food advice for
1:30.1	business financials, et cetera. So is there anything about starting a business that changes the
1:37.4	foe and then what is that boiling point to when you're like setting up an LLC and really an
1:42.8	official business? What do you think? Well, let me give think? Well, let me give you the appropriate compliance disclaimer here.
1:48.0	We can't offer any sort of legal advice, so we can't speak to you about when it makes sense
1:53.0	or doesn't make sense to have some sort of entity formation or even what type of entity you should establish,
1:59.0	because you mentioned setting up an LLC, but in some places, subchapter S corporation might make sense, or in some places it might
2:06.9	make sense to just remain a sole proprietor.
	...

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