#124 - REPLAY Should I be an S Corp? w/ Rebecca Driscoll

#124 - REPLAY Should I be an S Corp? w/ Rebecca Driscoll

Author: Justin Green, CFP® March 7, 2024 Duration: 41:22

In this episode, I sit down with Rebecca Driscoll, CPA.

She's the founder of Conscious Accounting, and helps business owners with bookkeeping & taxes to help grow their businesses!

This is a replay of our conversation and we dive specifically into S Corps:

  • Overview of business entities
  • How your business income is taxed
  • What taxes you are responsible for
  • How to determine a reasonable salary for your S Corp
  • Hidden costs of being an S Corp
  • When to avoid being an S Corp
  • When to contact a lawyer about your business structure

This is educational only. You should definitely consult with your tax advisor before making this decision.


Tune in to hear us discuss these topics and more!


Resources

Episode 63 w/ Cory Sterling


Connect with Rebecca Driscoll

Conscious Accounting

Do S Corps Provide Savings Blog


Connect with Justin Green

DM me on Instagram!

Assist FP Website


Justin Green, a CERTIFIED FINANCIAL PLANNER™, noticed a gap between the physical wellness online coaches promote and the financial health of their own businesses. That’s the space where Dollars and Dumbbells-Profit and Wealth Tips for Online Health and Fitness Coaches lives. This isn't just generic business advice; it's a focused conversation for creators in the health and fitness space who are ready to move from passion project to sustainable wealth. Justin, drawing from his work at Assist Financial Planning, digs into the specific money decisions coaches face. You’ll hear practical discussions on managing irregular cash flow, structuring your business finances efficiently, and making sense of investing so your profits work for the long term. The podcast unpacks often-overlooked areas like tax strategy, appropriate insurance, and even estate planning, because building a legacy is part of the goal. Through interviews and solo episodes, the content is designed to translate complex financial concepts into actionable steps. Tune in for a straightforward resource that addresses the unique intersection of personal training and personal finance, helping you build a resilient business that supports the life you want.
Author: Language: English Episodes: 100

Dollars and Dumbbells - Profit and Wealth Tips for Online Health and Fitness Coaches
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