341 - Answering Your Legal and Tax Questions

On today's episode of the podcast I'm answering your questions from inside my Facebook group, Braden's Besties. 

When you join my free Facebook group, Braden's Besties, we ask if you have any legal or tax questions and today I'll be diving into some of those. When I first started the podcast in 2019 I used to do two episodes a week with one dedicated solely to the questions from my Facebook group so today we're throwing it back to those original episodes and answering some of my most recent questions. 

Questions answered during this episode include: 

1. What are the pros/cons of having a longtime business partner as a contractor/consultant versus moving into a dual partnership LLC structure?

2. What are the differences between hiring a contractor and a part-time employee? 

3. What should I prioritize to have a business that is legally set up and clauses that need to be in place? 

4. I bought a legal contract in 2021, it's specifically for wedding planners and I haven't updated it since. Is this something I should be updating frequently or if I should be buying new material? 

5. What can I deduct on my taxes?  

6. How do I figure out my target for deductions? 

7. What are the contract I need to stay legal? 

8. Where do you start to unf*ck 50+ years of bad business practices? 

9. When does it make sense to choose an S Corp over an LLC and why does the IRS still consider it an LLC after you have an S Corp? 

10.  What are all the write-offs I can take?  You can check out our Small Biz Tax Deduction Guide and read our blog post "The Ultimate Tax Guide for Creative Small Business Owners"

If you like this episode (or don't) slide into our DMs @notavglaw on Instagram and let us know so we can give you more of the episodes you enjoy.