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2FD 014: Starting a Business

Sean Merron February 22, 2017 179 1

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We all seem to have great business ideas!

But there are a lot of questions on how to start a business while keeping startup costs to a minimum. Many business fails and you want to learn quickly if you have a product or service that people want before you spend too much.

Learn about the tax implications of owning a business and how it can take time to build traction until you’re able to expand your network. CHA-CHING!

Tune In Now!

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    2FD 014: Starting a Business
    Sean Merron

*** Insider Extras ***

We love our Insiders! Everyone in our Frugal Insider’s Club will receive:

  • Entry into our monthly book giveaway.
  • Insider-only special offers, like a discount on any Early Retirement Roadmap package.
  • Recommended resources that Kevin and Sean use in their own lives
  • Insider-only articles outside of what we have time for on the podcast.
  • Priority on questions about your situation and case studies.
  • Entry into our Christmas Gift of Frugalness including a HD Antenna, an Amazon Fire Stick, Gift Cards, Books and much more!

Discussion Points

  • How to create a business entity.
  • Having an accountant to reduce your tax liability as much as possible.
  • The liability protection with a LLC.
  • The life expenses you can now direct towards your business as a deduction.
  • Taking distributions from your business over a paycheck.
  • The costs of starting a business.
  • The advantages of using an accountant over a lawyer to start a business.
  • Don’t incorporate too fast.
  • Minimizing startup costs.
  • Starting a business on the side.
  • Your worst case scenario if your business fails: Get a job.
  • Making money with your business just takes time.

Show Links

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Thanks to for the music used in the show.

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