013- The Business Blueprint Every Drag Queen Needs For Financial Success
On this episode of the podcast I dive into Part 6 of my series on the tax basics and legal fundamentals for drag queens and LGBTQ+ entertainers. Today's lesson is covering the Small Business Blueprint you need to legally set up your drag as a business.
If you're new to the series, take a pause to check out my intro episode and then Part 1 of the series. Missed the most recent lesson? Check out Part 5.
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🤓 Get a free copy of my bookkeeping template
📘 Grab a copy of the book
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In my book I teach what I call the "Unf*ck Your Biz Framework," a five part framework to put your finances back together with legal and tax strategies. So far in these lessons we've gone through about half of the book and covered general tax systems, business liability, how much you should be saving for taxes, and back taxes. Today we're talking about the Small Business Blueprint.
With drag entertainers I find that there's a gap between those who view their drag as a business and consider themselves freelancers, and those who don't. If you're trying to make some money, you're doing yourself a disservice not treating yourself like a business.
The Business Blueprint is made up of 14 steps and you can download your own copy of the Blueprint here.
- Get a registered agent
- Choose business name and check availability
- Determine entity and file articles
- Get your employment identification number (EIN)
- Get your seller's permit
- Get your Business License or Tax Certificate
- Get your Fictitious Business Name License (DBA)
- Set up Operating Agreement
- Take Meeting Minutes
- Determine if you need a Statement of Information
- Pay Annual Franchise Tax/Fee
- Become an S Corp if applicable
- Set up Business Bank Accounts
- Run payroll
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𝗖𝗢𝗡𝗡𝗘𝗖𝗧 𝗪𝗜𝗧𝗛 𝗠𝗘
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𝗗𝗜𝗦𝗖𝗟𝗔𝗜𝗠𝗘𝗥𝗦
THIS IS NOT LEGAL ADVICE - Everything contained on this channel is meant solely for entertainment and informational purposes. Nothing herein should be considered legal advice nor does anything on this channel create an attorney-client relationship of any sort. Please seek guidance from a licensed attorney before making any legal decision.
COPYRIGHT - Any use of copyrighted content on this channel constitutes fair use pursuant to 17 U.S. Code § 107 as it is utilized for the purpose of criticism, comment, or news reporting allowed under that statute. See, e.g., Monster Communications, Inc. v. Turner Broadcasting Sys. Inc., 935 F.Supp. 490 (S.D. N.Y., 1996); SOFA Entertainment, Inc. v. Dodger Productions, Inc., No. 2:08-cv-02616 (9th Cir. Mar. 11, 2013); Equals Three, LLC v. Jukin Media, Inc., 14-09041 (C.D. Cal. Oct. 13, 2015).
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