Know Your Worth - Accounting for Creatives
The small business owners’ simple guide to finances.
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What You Will Learn!
- The Foundation For Your Business
- Creating a Usable Bookkeeping System
- Taxes for Small Business Owners
- Get Paid
- Small Business Tax Deductions
- Retirement Contributions for Small Business Owners
- Income Statement
- Balance Sheet
Description
Lesson 1 - The Foundation of Your Business
How do I get started? Lesson one covers the four things you need to do to make sure you start your business off on the right foot.
How to choose a business structure that fits your needs
Tips on researching your state’s business requirements
Whether or not you need an Employer ID Number and how to get one
Setting up a separate business bank account
Lesson 2 - Creating a Usable Bookkeeping System
Lesson two teaches you everything you need to know about setting up a usable bookkeeping system.
Choosing and setting up a bookkeeping system
Organizing receipts and bank statements
Categorizing transactions in your bookkeeping system
Reconciling business accounts
Lesson 3 - Small Business Taxes
What are my tax responsibilities as a small business owner? Lesson three will cover everything you need to know to stay on Uncle Sam's good side.
How to navigate sales tax in your state
Self-employment tax vs. income tax
How to calculate and pay quarterly estimated taxes
Filing your annual tax return
Lesson 4 - Get Paid
What do I do with all of this money? Lesson four will teach you how to pay contractors, employees, and yourself!
How to decide if you’ve hired an employee or contractor
How to file 1099s for contractors
How to pay yourself
Lesson 5 - Small Business Deductions
Can I deduct this? Lesson five will answer this question and give you helpful worksheets to keep your expenses organized.
Types of small business deductions
Home office deduction + worksheet
Business auto expense deduction + worksheet
Business mileage tracking + worksheet
Lesson 6 - Retirement Contributions
Ready to plan for your future? Lesson six will cover all of your self-employed retirement options.
Self-Employed Retirement Options
Retirement Contributions Limits
Retirement Contribution Deadlines
Lesson 7 - Income Statement
Are you taking home a decent income? Lesson seven will help you answer this question and assist in determining profitable price points for your business.
How to Read an Income Statement
Gross Profit
Cost of Goods Sold
Operating Income
Net Income
Lesson 8 - Balance Sheet
A balance sheet is a snapshot of your financial situation at a given point in time. Lesson eight will explain why this document is so important to the success of your business.
How to Read a Balance Sheet
Assets
Liabilities
Owner’s Equity
Who Should Attend!
- The small business owners' simple guide to finances. Membership includes instructional videos, beautiful downloadable guides, and an interactive forum that will walk you through the topics in an easy-to-understand format with an actionable checklist.