The Legal, Taxes and Point Hacking Side of Starting a Business | Effective Ecommerce Podcast #12 - Best Webhosting

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Watch E-commerce Travis Marziani Video: The Legal, Taxes and Point Hacking Side of Starting a Business | Effective Ecommerce Podcast #12.
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My current credit cards:
http://www.effectiveecommerce.com/my-current-credit-card/

Legal
DBA
LLC
S Corp

Taxes
Get an EIN
Fairly simple to file
State vs Federal
Sales Tax only usually pay in state
Amazon out of state depends in FBA
-Kind of BS

Point Hacking
Explain
ALL FREE TRIPS
My current credit cards
Go to /current cards

Welcome to the effective e-commerce podcast in this episode we're gonna talk about the legal, the taxes, and the banking side of things and specifically the point hacking side of things. This is I'll save this part for the end but is my favorite part about starting a new business is giving new credit cards you can use you can use them to get a lot of points I have one credit card for instance where I sign up spend $4000, within three months and you get , 50, 000points now never let credit cards use you a lot of people go into debt with credit cards that's awful you're just wasting your money obviously you know that but you can make a lot of money and get a lot of traveling for free by using credit cards properly especially when you're starting a business because when you start a business you have so many expenses right off the bat you might as well sign up for some different credit cards and get those signup bonuses. So first off let's start with some of the legal side of things and this is a question I get a lot and I am NOT a tax professional, I am NOT a lawyer, I obviously talked to your lawyer before you start any kind of business but I wanted to give a brief overview of some of the different legal aspects of starting a business specifically should you start it as a DBA an LLC or an SCorp now once again this is not tax advice this is not legal advice but I think a lot of people get hung up on this truth is if you're not making sales the government's not going to come after you no matter pretty much where you are so think about like that a lot of people I think enjoy the idea of playing business they enjoy getting the business cards they enjoy you know doing all these different things that aren't that isn't selling. Selling is the most important part of starting a business making money that's why you started a business now if you make $1000, from a business and you don't have an LLC or an Scorp or even a DBA you know the truth is the government's probably not going to notice they're probably not really going to penalize you hard once again don't do this cuz I'm sure there's one person that has done this or will do this and will get penalized but I'm just putting that in context. The government's not making their money off people that make a thousand bucks on the side and any could still report that if you do it but anyways let's get back to on topic here so the easiest and when I recommend doing for most people is just start your business as a DBA that's doing business as. You can do it for cheaper but the way I usually do it is bucks I use LegalZoom you I also use Legal Zoom to file my LLC paperwork as well so when you're first starting out just do it it's DBA now the one caveat is if it's something ingestible if it's something where you have a chance of being sued then you want to do an LLC and an LLC is a limited liability company what that does is it creates a separate entity doing business as would be you
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Published: Monday, August 19, 2019 5:01 PM
Category: E-commerce Travis Marziani

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