Know Your Worth

How do you choose a legal structure for your business? 

From sole proprietorships to LLC and S Corp, there are so many options to choose from it can become overwhelming to know which legal structure for your business makes sense at every stage. 

(And if you’re like Kristen, you may not even remember what you got set up as initially if you’ve been in business for a few months or years!)

In this episode we’re answering the question, “What is a business structure?” and breaking down each of the different types including sole proprietorship, partnership, LLC, S Corp, and C Corp so you can understand when each of these would be beneficial for your business, the pros and cons, and who you should talk to to form the right structure for your needs. 

03:03 — What is a legal business structure (and do I have one)? 

05:15 — Sole Proprietorship

09:42 — Partnerships

11:22 — LLC 

21:23 — S Corp

29:48 — C Corp 

📚 RESOURCES MENTIONED

•  Corpnet.com 
• Legalzoom.com

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

Do you want to save more money for big purchases during holidays and other special events? 

Saving is a skill that’s the foundation for any goal — whether that’s to spoil your niece on Christmas morning, to fund a luxury vacation, or reach your biggest financial goals. 

Sydney and Kristen go through the six steps to help you manage your finances and save for those special occasions. 

Learn how to strike a balance between celebrating the people you love and not going overboard with your spending during the holiday season. 

Whether you're saving for Christmas, a vacation, or any other special event, these insights will help you plan your finances effectively and make the most of your celebrations.

• The 6 steps to savings that apply to short-term and long-term goals
• How to find the right balance between saving for big purchases and not going overboard with your spending (especially during the holidays)
• How to let go of the idea that spending is the only way to celebrate so you can prioritize your budget based on your values

📚MENTIONED IN THIS EPISODE

• https://www.acorns.com/
• https://www.robinhood.com
• https://www.rakuten.com/r/SYDNEY4249?eeid=45830
• https://camelcamelcamel.com/
• https://www.joinhoney.com/features/amazon
• https://www.upgrade.com/

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

Creating a budget can often feel restrictive, but with the right approach, it can ensure you have the freedom to spend on what you want while still being confident you can reach your money goals.

Sydney helped Kristen create her budget and they share the process in this episode.

Tune in to see: 

• How to get out of feelings of anxiety around money
• How to find the right person where you feel fully comfortable to be open about your full business and personal financial situations 
• How to get a snapshot of your realistic spending habits to best plan your budget
• Using an Over/Under system to contribute more to your Sexy Money Goals
• The Credit Card Payoff Calculator template in Excel and Google Sheets to help you create a payoff plan for credit card debt
• The value of automatic savings and investing (plus a suggested app to use to keep it simple)
• Why you should set up a separate saving account at your bank

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

Knowing your numbers and understanding your financial statements is crucial to running a profitable and growing business.

There are three financial statements that every business owner should be creating and using, or having a team member or bookkeeper create and review with them to get the full financial picture of your business. 

In this episode, Sydney breaks down the 3 financial statements you need to be using in your business — plus what they look like on the personal side.

You’ll learn: 

• The top 3 financial statements you need to use in your business
• The common problems business owners run into with managing each of these financial statements
• What situations you would want to use each of these statements for

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

Do you and your partner have different outlooks on money? 

It can be difficult to navigate financial conversations with your partner when you come from different backgrounds and have different perspectives on how to spend, save, and invest your money. 

Sydney and Kristen share how each of them has navigated finances with their own partners and shed light on the challenges of getting on the same page as their partner and what’s worked well for each of them. 

They also highlight the importance of a budget and using tools to help you and manage it — without needing to obsess — to alleviate some of the stress you or your partner might have with managing money. 

Tune in to hear how you can navigate creating a budget with your partner and some of the challenges that come with talking to someone else about money.

• Why money is the number one thing couples fight about 
• How to get over your belief that talking about money is “taboo”
• The financial tools you can use to keep track of your budget
• How a “lifestyle” Pinterest board can prevent you from making impulse purchases

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

In part two, Kristen shares her journey from working in education to quitting her job — and helping her husband quit his — while simultaneously taking on a major expense of IVF treatment.

She also sheds light on some of the mistakes she made that she would change if she could go back and do the process again. 

They also discuss how to navigate “worst-case scenarios” with any Sexy Money Goals.

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

In this two-part episode, Sydney and Kristen share their journey to achieve one of the first Sexy Money Goals entrepreneurs have — quitting their 9-to-5 jobs. 

In this episode, Sydney details her journey from working in the financial industry with a secure job to starting her first three businesses and being able to quit and work for herself. 

They discuss how Sydney's upbringing made her confident to be able to lead a business, the mindset required to take the leap into entrepreneurship, and a few of the key numbers and financial considerations that went into the planning.

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

When it comes to money, it can be easy to set arbitrary goals.

“I want $20k months,” or “I want a $1M year.”

Those are the common ones we hear from entrepreneurs. 

While it can be fun to hit milestones like that, reaching those goals won’t necessarily give you what you want with that money in your life. 

And you might be surprised to see that there are different ways to reach your biggest lifestyle goals without even reaching those numbers. 

In this episode, we’re breaking down what Sexy Money Goals are, and why we don’t *love* just choosing a revenue or income number that sounds good.  

01:43 — What is a Sexy Money Goal (hint: it’s not just a number)

03:10 — Examples of Sexy Money Goals to inspire you to create your own

06:42 — How to protect your goals from fear of judgment or external criticism 

09:09 — Choosing a support team that you know will rally behind you and support your goal 

11:08 — The best way to ground your goals in a realistic perspective, rather than hopes and dreams

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

Every personal and business goal is achievable with the right plan!

In the very first episode of Know Your Worth, your hosts, Sydney, money maven and owner of Know Your Worth PGH, and KYW office manager,and admittedly money-anxious best friend,  Kristen Fedeli, share: 

💰 How it’s possible to go from money-anxious to money-empowered with the right tools 

📊 How any goal is achievable with the right plan — no matter how overwhelmed you feel or where you’re starting 

🎯 Their mission to demystify finances and help you achieve your Sexy Money Goals 

Plus, you’ll get to know each of them as your hosts and hear their vision for the show! 

📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDE

Get the Profit and Loss Guide

❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANT

Get the Tax Planning Questions Guide

🛍 75+ TAX WRITE OFFS

Get the Tax Write Offs

✅ BOOKKEEPING CHECKLIST

Get the Book Keeping Checklist

💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERS

Apply for Bookkeeping or Financial Analysis Services

👋 CONNECT WITH SYDNEY & KRISTEN 

Website: https://knowyourworthpgh.com/

Instagram: https://www.instagram.com/knowyourworth_pgh/ 

YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/

Financial success as an entrepreneur isn’t about a $20k month or a million-dollar year — it’s about what your revenue can do for your life. 

Working two days a week, buying your dream home, retiring your partner, starting a second business, or caring for your parents — those are Sexy Money Goals.

On this show, Sydney Conway, Money Maven and Kristen, her dime-piece bestie and team member teach you how to think about your differently so it can work to achieve your Sexy Money Goals, not just hit a number. 

From understanding how to increase cash flow to financial projections and tax strategy, you’ll gain the insight you need to really understand how every business and personal goal you set is achievable with a plan and understanding the right numbers. 

You’ll also hear from other entrepreneurs like you who have achieved their Sexy Money Goals and the steps they took to make that possible, so you can feel empowered to go after what matters most to you. 

Sydney Conway, is an accountant and financial consultant of Know Your Worth Pgh where she’s supported more than 100 businesses to manage their finances and feel confident and empowered to grow their businesses and their money goals. 

Kristen is a busy mom of twins who is an assistant to multiple business owners and sees and manages all the behind-the-scenes details that allow the businesses to run smoothly. 

You can learn more and book a call at knowyourworthpgh.com.