Great video! It really clarified things for me with starting my business. Straight to the point without fluff. Definitely a Sole Proprietorship is the way for me to go.
Hi there, was looking for the link for Novo in your description, but I'm not seeing it. I know I can just go to the website, but I thought maybe you had an affiliate link, so I wanted to check here first!
Great! breakdown and informative. I'm a freelance graphic designer and I was thinking about registering as a sole proprietorship, but I haven't generated much income so far yet. Also, I read that you do not need to register a sole proprietorship in Florida however, my question, is it still best to register as a sole proprietorship?
5:13 I hope this doesn't sound aggressive in tone, through text, but if you what you mean by "proper" is "legal", then please clarify that. That's what I'd want to know as a viewer/potential small business owner -- "Will I get into legal trouble without this?".
thank you for the information !! I just recently opened up my own Barbershop , and I dont know what to do . Do I need to get Self Proprietorship or an LLC ?
Thank you so much! You covered so many important points in this tutorial-I really appreciate it. 🙌 I just subscribed! 😊 I have a question: I’m starting two different businesses and want to start as a sole proprietor to see which one does better over the next year. Can I set one up as an MBA and the other under my personal name? That way, I can test them out while still giving them unique identities.
I’m confused. On the link you put in your bio. Bizee, which do I select for sole proprietor? It only says Lls, S-Corporation, C-Corporation and non profit? I thought all of those are separate from sole proprietor?
I so much appreciate you for this informative video 🙏🏽 You're a resourceful person who organized the info and presented it in an understandable breakdown and professional manner 👏🏽
I have a job plus a sole proprietorship. I was told that if I claim my business expense on my 1040 and I dont show a profit for at least 2 years out of the first 5 years the irs will try to recover any money saved on my 1040 by claiming the business expenses plus pertly. Is this true?
I have a question! If your sole proprietorship accidentally does look and end up more like a hobby... What do you do differently? Is it illegal to sell a service, then reinvest the service sale, into your "business"/"hobby".. I know you can write off education! Not only other things. What if you sold your service... To buy school... It's an investment in the future of the business. But yeah. What if it turns into more of a hobby.. is that illegal, or is there an option to do that... Like hobby level business to pay for skills training and higher education.. or whatever investments.. into your "hobby"/"business".. that's a great way to word that... Hobby... But how can someone legally receive money if thier entire desire is to pay for equipment or education... I appreciate all you do 🙏🙏💓 God bless you 💗 in Jesus name
Have a sole proprietor on my cellphone repair store no employees and o used money from my account to buy a boba tea shop how do I report this for tax deduction from the cellphone side
I’m planing to open my Landscaping do I still need to get a EIN, I’m getting the DBA just because im using my middle name and being as a Solo proprietorship, is it necessary the EIN, thank you…
Hope you guys enjoy the video and get a ton of value from it! Below are useful links to getting started in your business: Get started with your domain name and website with Wix: startupwise.com/wix Start any business entity with Bizee (previously IncFile): startupwise.com/bizee ^ Bizee is the new and improved IncFile - they're the same company and still provide the same services, but with a new name. Open a business bank account with Novo: www.novo.co/ Track your business finances using Quickbooks: quickbooks.grsm.io/charleschang6531 Our favorite business must-haves: 💳 Best business credit cards: go.milevalue.com/business-credit-cards-suw?aff=suw 🏦 Novo (best business bank): startupwise.com/novo 🖥 Best AI website builder ($3/month using code STARTUPWISE): startupwise.com/hostinger/ ⚙ Northwest (best $39 LLC formation service): startupwise.com/northwestLLC 💰 Payroll with Gusto (get 2 months free!): startupwise.com/gusto 👨💼 Best overseas staffing agency (save 80% on payroll): paired.so/startupwise
Great video! It really clarified things for me with starting my business. Straight to the point without fluff. Definitely a Sole Proprietorship is the way for me to go.
Gosh, thank you! Straight forward and to the point! I appreciate you.
Thank you very much for the explanations! Very organized. Did not find the links in description though.
Best video i have seen so far. Straight to the point.
Hi there, was looking for the link for Novo in your description, but I'm not seeing it. I know I can just go to the website, but I thought maybe you had an affiliate link, so I wanted to check here first!
Great breakdown and explanations!
Can you get in trouble for being a sole proprietor and forgetting to update your license with your name? I have always paid my taxes.
I got it taken care of right away with the State of Mn. No problem. They were fast and efficient:)
Great! breakdown and informative. I'm a freelance graphic designer and I was thinking about registering as a sole proprietorship, but I haven't generated much income so far yet. Also, I read that you do not need to register a sole proprietorship in Florida however, my question, is it still best to register as a sole proprietorship?
5:13 I hope this doesn't sound aggressive in tone, through text, but if you what you mean by "proper" is "legal", then please clarify that. That's what I'd want to know as a viewer/potential small business owner -- "Will I get into legal trouble without this?".
thank you for the information !! I just recently opened up my own Barbershop , and I dont know what to do . Do I need to get Self Proprietorship or an LLC ?
You would probably want to open an LLC strictly so you can protect your personal self from the business should anything happen
Awesome content!! Thank you so much :)
This video needs more likes!!
Thank you so much! You covered so many important points in this tutorial-I really appreciate it. 🙌 I just subscribed! 😊 I have a question: I’m starting two different businesses and want to start as a sole proprietor to see which one does better over the next year. Can I set one up as an MBA and the other under my personal name? That way, I can test them out while still giving them unique identities.
When you started your UA-cam channel, did you register under an LLC or Sole Proprietorship?
A Legend speakss.........
Thank you so much! This helps tremendously!
I’m confused. On the link you put in your bio. Bizee, which do I select for sole proprietor? It only says Lls, S-Corporation, C-Corporation and non profit? I thought all of those are separate from sole proprietor?
So if you are thinking about opening mom and pop restaurant, whats your recommendation? LLC or Sole Proprietor
Thank you. I needed this.
I so much appreciate you for this informative video 🙏🏽 You're a resourceful person who organized the info and presented it in an understandable breakdown and professional manner 👏🏽
I have a job plus a sole proprietorship. I was told that if I claim my business expense on my 1040 and I dont show a profit for at least 2 years out of the first 5 years the irs will try to recover any money saved on my 1040 by claiming the business expenses plus pertly. Is this true?
Thanks for the info.
I have a question!
If your sole proprietorship accidentally does look and end up more like a hobby... What do you do differently?
Is it illegal to sell a service, then reinvest the service sale, into your "business"/"hobby".. I know you can write off education! Not only other things. What if you sold your service... To buy school... It's an investment in the future of the business. But yeah. What if it turns into more of a hobby.. is that illegal, or is there an option to do that... Like hobby level business to pay for skills training and higher education.. or whatever investments.. into your "hobby"/"business".. that's a great way to word that... Hobby... But how can someone legally receive money if thier entire desire is to pay for equipment or education...
I appreciate all you do 🙏🙏💓
God bless you 💗 in Jesus name
Hi
Is this for Canada or in US
What would your recommendation be for a coffee dropshipper?
Have a sole proprietor on my cellphone repair store no employees and o used money from my account to buy a boba tea shop how do I report this for tax deduction from the cellphone side
Great stuff
I’m planing to open my Landscaping do I still need to get a EIN, I’m getting the DBA just because im using my middle name and being as a Solo proprietorship, is it necessary the EIN, thank you…
I formed an LLC but by default I will be taxed as a sole proprietor ... is that correct?
is this apply in any state , i need new york
why would you need a DBA if you file your taxes using your own social security number? even though the name may be different you are the business
Does a DBA provide any legal protection for personal assets?
To my understanding no a DBA will not protect you however that's where you would be a sole proprietor with an LLC.
thanks
Thank you very much for a clear and thorough discussion.
Thank you
Hope you guys enjoy the video and get a ton of value from it! Below are useful links to getting started in your business:
Get started with your domain name and website with Wix:
startupwise.com/wix
Start any business entity with Bizee (previously IncFile):
startupwise.com/bizee
^
Bizee is the new and improved IncFile - they're the same company and still provide the same services, but with a new name.
Open a business bank account with Novo:
www.novo.co/
Track your business finances using Quickbooks:
quickbooks.grsm.io/charleschang6531
Our favorite business must-haves:
💳 Best business credit cards:
go.milevalue.com/business-credit-cards-suw?aff=suw
🏦 Novo (best business bank):
startupwise.com/novo
🖥 Best AI website builder ($3/month using code STARTUPWISE):
startupwise.com/hostinger/
⚙ Northwest (best $39 LLC formation service):
startupwise.com/northwestLLC
💰 Payroll with Gusto (get 2 months free!):
startupwise.com/gusto
👨💼 Best overseas staffing agency (save 80% on payroll):
paired.so/startupwise
Thank you so much! This really helped me alot. I appreciate it.
What if I’m trading stocks making over $50k?
W in the chat
Dude has yet to respond to a single question.
He answered everything i wanted to know