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Episode 008: Q&A 4

other legal solo show Nov 05, 2019

On this episode, I discuss the answer to the question: "At what stage does a business need a lawyer on call and what does that cost? Asking for a friend with a lot more money than me (My future self.)"

The short answer: As always, it depends.

Areas where I don’t recommend DIYing at all. Trademarks, partnership stuff, patent, and complex and or high dollar contracts.

Otherwise, time is money. Do you have the time, and do you have the money?

Most attorney bill clients in 10ths of an hour. That means that a lawyer who charges $300 per hour would bill $60 for a 12 minute phone call.

Some attorneys, like myself through my law firm, now offer “outside counsel services.” Basically, they’re your on demand attorney for some monthly rate.

That’s a great option if you need regular legal assistance. Otherwise, having a go to person for guidance is a better alternative.

In my education based business, I actually started offering an alternative to outside counsel....

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Episode 007: Breaking Down Different Types of Money Pros with Kristy

cash flow interview Oct 31, 2019

On this episode, I chat with Kristy Runzer about the differences between CFOs, CPAs, CFPs, accountants, and bookkeepers, so you know who to hire when.

Kristy, owner of On Route Financial, and I break down the difference between types of professional.

In summary,

CPAs, accountants, and bookkeepers look at the present and past.

while,

CFPs and CFOs look at the present and future



Episode Transcript

Braden: (00:00)
Hello and welcome to episode seven of the unfuck your biz podcast. As always, I am your host Brayden in today I am joined by my good friend Christie [inaudible] who is the owner of on route financial. She's a certified financial planner or a CFP. Don't worry. We're going to actually explain what that means and on today's episode what Christie and I are going to attempt to do for all of you is break down the different types of money professionals that can help you with your life and your business. My goal for this podcast is to actually have some really stellar kick ass...

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Episode 006: Q&A 3

On this episode, I chat about the question: “I'm in the process of opening a marketing agency. Can you share the 411 on all things legal that are required?”

The short answer: there’s a handle of things you must do, a handful of things you definitely should do, and a lot of shit that’s for sure a good idea.

On this episode, I do a dive into the 7 Layers of Protection for your biz. Click the button to download the doc with the 7 layers.

If you want more info on each of these layers, the first thing to do is subscribe to the podcast. I mean, I know that sounds like a jokey statement, but for realsies. Each episode will in someway relate to the 7 layers and the Unfuck Your Biz Framework.

The show is planned to give you a comprehensive look into the legal and tax aspects of business.

If you really want to get rolling with some tactical tips to kick some ass, check out the freebies.



Episode Transcript

Braden: (00:01)
Hello and welcome to...

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Episode 005: An Introduction to Cash Flow Management

cash flow solo show Oct 29, 2019

On this episode, I chat about the Profit First book, and how I recommend getting started implementing a cash flow system into your business.

If you want more info on s corps, check out this blog.



Episode Transcript

Braden: (00:00)
Hello and welcome to episode five of the unpack your biz podcast. I'm your host Braden. Super excited to have you here. This episode is going to be an introduction to the profit first system. So if you're not already familiar with profit first, it is a book written by a man by the name of Mike Nicalo [inaudible] on how to manage the cashflow in your business. So I really like this system. I'm going to break it down here on the podcast by going through my free download that is called the getting started with profit first roadmap. So I highly recommend if you want to start implementing this system into your business, check out the audio book. That's kinda my favorite method. Uh, Mike does the audio book and he provides a...

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Episode 004: Q&A 2

cash flow solo show Oct 29, 2019

On this episode, I chat about the question: “I have 5 businesses and use the same account for all of them. How do I fix that?”

The short answer: you need one bank account per person, and then one personal account.

The question really should be “Do you have 5 businesses, or do you have 1 business with 5 marketing channels?”

If it’s the latter of the two, then what you really need is one business account, 5 DBAs, and a good bookkeeping system to track income from each.

For more info on DBAs, check out this bitchin blog.

Then, make sure to checkout the free download How to Be Your Own Tax Pro & the Profit First Roadmap.



Episode Transcript

Braden: (00:00)
Hello and welcome to episode four of the unfuck your business podcast. My name is Braden and I am your host. Thanks so much for listening to this episode. Again, this is one of our short Tuesday episodes, so we're going to tackle one of the questions that came from our Facebook group. If you're not...

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Episode 003: Legal Drama 1 – Getting to Know Amanda & Lawyer Stuff

interview other legal Oct 29, 2019

On this episode, I chat with Amanda Montgomery about the legal profession, and we kick off our series on legal drama in pop culture.

Check out the episode and the show notes.



Read the Transcript

Braden: (00:00)
Hello and welcome to episode three of the unfuck your biz podcast. I'm your host, Brayden, and today I am with my good friend Amanda. Hi Amanda. Hi. How's it going? Thank you for having me. Yeah, super excited to hopefully the audio is good for all of you. Amanda just went and got her snowball microphone. So we are all set up and profesh and this shit. I invested, I invested for Brayden and I love it. Make sure that you save that receipt for your tax deductions. Okay. Thank you for reminding me. You're welcome. All right, so the idea of this podcast episode is, well, this podcast episode series I should say is pretty straight forward. Amanda is another fellow small business attorney in Dallas, Texas. So we do a lot of the same types of things or the same types of clients....

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Episode 002: Q&A 1

solo show Oct 29, 2019

Question: I'm a photographer and am a sole-prop but have heard about s-corp and llc . . .wondering differences and if/when should change.

The short answer: It’s never a bad idea to form an LLC. It provides great legal protection.

When to form it really depends on your personal financial situation. Now is great, but weigh the risks in your biz.

To get started, listen to the podcast episode. If you’d like more info from there, check out this blog.

Then, download the Small Biz Blueprint to take the LLC Risk Assessment.


 


The Episode Transcript

Braden: (00:01)
Hello and welcome to episode two of the unfuck your business podcast. My name is Braden and I am your host. Thanks so much for tuning in. This is going to be a very short episode. I noted in the welcome episode of the podcast that every other episode that we do will be a quick bite size tip episode. So I'm trying to come up with a better, more clever name for what to call these. You can let me know if you have...

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Episode 001: Welcome to the UFYB Podcast

Uncategorized Oct 29, 2019

On this episode, I share a bit of info about what the UFYB podcast is all about, and how I hope to help you become a more tax and legal savvy entrepreneur.

Why the New Podcast

I began my podcasting journey with the Creativepreneur Podcast, which you can still find on your podcast app under Get Your Shit Legit with Braden.

Long story short, I did a rebrand that was a disaster, that led to another last minute rebrand, and the podcast just kind of became a mess.

I also realized that while I had some amazing guests on the show, they weren’t very in line with my business, which is all about helping creatives get the legal and tax bits and pieces of their businesses up to speed.

Thus, I decided to make this pivot. My goal is to truly help you kick some ass in your business by bringing some fun and clarity to some often confusing, dark, and scary topics.

I’m super pumped to begin this journey with you. Throughout the episodes, we will explore the Unf*ck Your Biz Framework, a...

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Forming an LLC in California at the End of the Year

Uncategorized Jun 29, 2019

Many new business owners wish to launch their businesses in the new year. However, the legalities needed to get started can complicate the process. When forming an LLC in California, you must pay an annual minimum franchise tax to the state on an annual basis. That minimum tax is $800 in addition to standard income taxes. The first franchise tax is due on the 15th day of the fourth month after the LLC formation. For example, if you were to form your LLC in July, the fourth month of operation would by November. The $800 franchise tax would be due on November 15th.

This is why I talk to many clients who simply wish to open their LLC in the new year. Obviously this is a business decision. If you have people waiting for you to launch your biz, then you probably wouldn’t delay. Get that money, money, money.

The good news is that California offers some carve outs to those who file at the end of the year. If you form your LLC on, or after, December 17th, you are not required to pay...

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Operating and Partnership Agreements. What Are They, and Why Do You Need Them?

Uncategorized Jun 20, 2019

The birth of a new business is an exciting time. There’s no shortage of motivation, or enthusiasm and your creative juices must be flowing. Everything you’ve worked towards for the past few months has culminated into this moment... so congrats! But the legal aspect is often overlooked or worse, completely ignored. You may need a business agreement like an operating or partnership agreement. These concepts new to you? No worries! Keep reading to figure out what kind of agreement suits you best.

Partnership Agreement Basics

If you have two or more individuals coming together to form a partnership, you will need a Partnership Agreement. Since a general partnership doesn’t have a separate existence in the eyes of the law – the partners will be jointly and severally liable for any debts of liabilities of the business. Also, in California, and in many other states, state default rules apply in absence of a partnership agreement. In short, if you don’t have an...

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