Choosing the Best Structure for Your Creative Business [Live Workshop]
Sales have taken off! Your book, your art, your online course, your idea is gaining traction.
When you begin to earn revenue from your work, that’s when the phrase “Creative Professional” sits squarely on your shoulders. Part of being professional means planning to manage your business success.
No matter what stage you’re in with your business, you should be thinking of yourself as an entrepreneur. Whether you are launching a new enterprise or building an existing one, thinking about the “business” piece of your business can be daunting, as well as exhilarating. Not only is the feeling of “What if I fail?” all pervasive, there is also the ever present thought of “What if I’m not doing it right?”
Entrepreneurs question themselves every step of the way about whether they’re “doing it right.” Writers, artists and other creatives whose expertise is in the act of creation but perhaps not in the creation of a business are particularly prone to second guessing themselves on business issues.
Once a creative professional decides the time is right to start a business the first question asked (after “Am I nuts?”) is usually, “What type of business should I form?”
In this workshop, we are going to take a look at the different options available to help answer that question.
Deciding what is best for you begins and ends with your specific needs and goals. The aim of this workshop is to provide you with the guidance you need to help you decide when to choose one type of entity over another as you build your empire.
We will discuss the pros and cons of operating as a sole proprietor, when it is time to form an LLC, and whether a subchapter S corp make sense.
We will cover the things you need to know about the different business entities to ensure you’re making the right choice at the right time:
- which structures offer personal liability protection;
- when a DBA registration is necessary;
- when to get an EIN (a federal Employer Identification Number);
- how to minimize your business tax burden;
- how to pay yourself, your taxes, and invest in your business to keep it going strong;
- how to pay yourself from your business if you are also employed as a W-2 employee by another entity; and
- the tax benefits of a subchapter S corporation.
The feeling of exhilaration comes in when you have a solid plan in place and a roadmap for executing it.
Our guest this month is Dan Gartrell, a CPA and lawyer, whose expertise is in individual and business tax, as well as estate and succession planning.
Dan has more than 22 years of experience. He will share with us his view of how successful businesses start and grow, changing tactics along the way as things progress. He’ll be ready for your questions.
This workshop is being offered as a stand alone opportunity. You do not have to be a member of the Creative Law Center to attend it (members will have access, of course, and need not purchase the workshop separately).
This is a live, interactive workshop using Zoom. You will be able to ask questions in real time.
You’ll get an email with the Zoom link for Wednesday, May 19 at 1 p.m. Eastern time once you sign up.
You will have lifetime access to the replay.
Don’t miss it. Bring your questions.