Legally Legit® Podcast

I thought it was time that I gave all of you service-based business owners a COVID update.   
This is a tough subject to talk about because, I feel like it's unending and we're all a little bit sick of it. But it's no secret that there are various popping up left and right. The threat of COVID is still here and is probably unfortunately here to stay. With that means more questions from clients.
 
 The Legal Paige Shownotes
 
Episode Highlights

• What changed from previous TLP updates regarding COVID and contracts.
• An in-depth look at the newest supreme court decision regarding the vaccine mandate for businesses.
• A brief synopsis on what is OSHA. 
• COVID concerns your clients may have and how to best address them while still being legally legit. 
• My answer to common questions getting asked from various service-based business owners. Including rescheduling fees, variants, pushback from clients regarding clauses in relation to COVID, and more. 

Worth Noting

"First of all if you have used our covid addendums where it specifically stated a rescheduling deadline, and the bride let it lapse. Then you have no obligation to reschedule them or return their paid fee. Do not let these attorneys bully you. The addendum is not in our opinion an adhesion contract but even if it was it is enforceable in court. It is completely in your right to plant your feet in the mud and let thier attorney try to convince a Judge in small claims court that this contract addendum is invalid. Of course this is not legal advice as we are not your lawyer but we are just letting you know that this is something you can do." - Paige's advice on rescheduling deadlines.
 

"Since our last update we have also been introduced with a new variant Omicron. From what I am seeing and hearing this strain is looking less aggressive than Delta. And may be the sign of the beginning of the end for this virus. Even if that proves to be untrue we always want to hope right? With that being said we are still seeing events being postponed and many events still have COVID restrictions. So for now keep those clauses in even if you never need to use them. It is better to be prepared for the worst scenario with a lifesaver than without. " - Paige's advice if COVID clauses still need to be in contracts.
 

"A reasonable rescheduling fee can be anything from $100 to 30% of your fee. Here is how I look at this, you are giving them the benefit of rescheduling, and  really anything under 30% will be more than reasonable in the eyes of a judge and hopefully a client. Where It may seem unreasonable in the eyes of a judge or even the client is if you go over that 50% mark. At that point it might be better to not allow rescheduling and ask for a new contract and retainer. This is a completely fine way of doing it! It's your company you get to make the rules."- Paige's advice when it comes to reasonable rescheduling fees.
 
 

The Legal Paige's COVID Resources

• The Legal Paige's COVID Resource Roundup

Find Contracts & Clauses in The Legal Paige Shop

• The Legal Paige Shop
  
  

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If you're ready to file an LLC yourself and take the DIY approach, I want you to know as much as possible to help you prepare to file.

 A Limited Liability Company (or an LLC), provides very similar protections as a corporation. But LLCs are easier, and much cheaper to form and run. It's a way for business owners to protect themselves from personal liability. It separates the personal liability from the business liability.

The Legal Paige Podcast Shownotes   
 
Episode Highlights

• An in-depth look on how to really start filing for your LLC, and why it's important to familiarize yourself with your home state's filing process. 
• What is a name reservation, and why it's very different from a trademark registration which is a different form of protection.
• What is an effective date, and what to choose if you want to be an LLC right away. 
• A breakdown of what is registered agent, and what you could do if you're not comfortable leaving your home address listed.
• Why different states may have larger filing fees, but I don't want this to deter you from filing. Because the benefits of forming an LLC outweigh the filing fee. 

 
Worth Noting
"You don't want your business assets and liabilities co-mingled with your personal assets. We've worked hard to create a savings account, 401ks, build a home for ourselves, and we don't want those to be interrupted or be at risk with the business that we're creating. Which is why an LLC essentially creates this entire bubble around your business."
- Paige on why forming an LLC and keeping your assets separate is important.

"You can't have a PO box here where your LLC receives official mail. So oftentimes business owners just choose to simply put themselves as registered agents and then they list their home physical address. Remember, this is public information, your LLC registration lives in a public area that people can search and access. So if you're not comfortable providing your home address for privacy reasons, you're going to need to find another registered agent in your home. And that is really easy to do."
- Paige on what is registered agent.
 

"Keep in mind that being an LLC owner has benefits, including being able to write off many, many business expenses. So keeping your funds separate allows you to keep track of expenses easier, which will ultimately help you write off more during tax season. Your accountant will thank you for this. You will thank yourself for this at the end of the year, when you have this business bank account all set up. Not only is it absolutely mandatory and necessary, legally speaking to keep your LLC actually an LLC, but it's also great for keeping track of your finance."
- Paige on why you need a business bank account.

 
Purchase The Legal Paige's DIY LLC Guides: 

• The Legal Paige's DIY LLC Registration Guides

Read More About Manager-Managed LLCs Versus Member-Managed LLCs

•  Read The Legal Paige's Manager-Managed LLCs Versus Member-Managed LLCs Blog

 Find Contracts & Clauses in The Legal Paige Shop:

Adventure Elopement Photography has seen an explosion post pandemic, and really since 2020. More intimate weddings were on the rise, people opted for smaller weddings opposed to the bigger events we traditionally saw. This brought on a whole layer of legal situations that needed to be addressed. Nina Larsen Reed is joining us today, to really break down those sticky situations and how to best protect your Adventure Elopement Photography business Nina Larsen Reed is a Colorado-based elopement photographer and hiker chick. She grew up on a tiny island in Norway, moved to Boulder in 2010, fell in love with the sunny Rocky Mountains (and her now-husband), and never looked back. Now a mom to a baby girl, Nina specializes in tiny elopements close to home.
  

The Legal Paige Podcast Shownotes

Episode Highlights:

• An in-depth look on what to do when you show up to national park, only to find it's your clients and 20+ of their closest friends. 
• Why guest count is so important when you are visiting national parks. 
• Nina's take as an experienced photographer why permits are put in place in National parks. 
• Increased responsibility and planning that has occurred post pandemic.
• Tips for protecting your business, as the industry continues to grow.

Worth Noting:

"No one reads a contract, as frustrating as that is. If people are just excited to book and they scroll to the bottom when they sign and say that's fine. So there are other places where people can put that type of education too, such as location guides, even before that in the questionnaire. I have my couples fill out before that, so I can make them a location guide. And I cover questions like, do you want ceremony decor?"
- Nina Larsen Reed on Location Guides and Contracts.

"The number one thing I want you to know, is that people should be charging at least as much as they would for a traditional wedding. If not more, because if this episode has not driven home how much work is involved with this beyond showing up and taking photos."
- Nina Larsen Reed on What To Charge. 

"If they show up with more people than what they have told me in advance, and that is against the rules of location, I will leave and they will not get a refund. They will not get any photos. I think the more clear you can make that, the more seriously people will take it. Because no one wants to show up and find out that they paid a lot of money for a wedding photographer who will walk away and not give them a single photo."
- Nina Larsen Reed on Handling Guest Counts That Exceed Location Rules.

Purchase The Adventure Elopement Contract: 

• The Legal Paige's Adventure Elopement Contract

Follow Nina: 

• Nina Larsen Reed's Instagram
• Nina Larsen Reed's Website
• Nina Larsen 

What's the difference between 1099-MISC, 1099-K, and 1099-NEC Forms? Let's clear the confusion and understand what exactly each of these forms is needed and used for with the help of Brittney Suttle!

Brittney is an Indianapolis-based CPA, founder of Knies & Co, a virtual CPA firm, and Prosper Simply, an online financial course catalog for business owners. She joins us on The Legal Paige Podcast to talk all about 1099s. If you have questions regarding getting your 1099s prepared and ready for January, including updated tax laws, and the new $600 threshold for 1099Ks, this episode is for you. 

Brittney's mission is to make money more approachable for women, and she passionately works to help female entrepreneurs get more out of their business (& life) through great money management & simple systems. 

Episode Highlights:

• How to properly prepare your 1099s and have them ready in January.
• A full in-depth explanation on the different 1099s, including 1099-K's, NECs, and MISC. 
• Who needs to be sent a 1099, and who doesn't. 
• Updated tax laws, including how 1099s now work with third party payment processors like PayPal, Venmo, etc. 
• And Brittney's course that's going DIYing your 1099s so much easier! 

The Legal Paige Podcast Shownotes

Worth Noting:

"A 1099-NEC stands for non-employee compensation and this is a newer form. So think back to two years ago, this form didn't exist. This for is really for your independent contractors, anyone who is providing a service for your business, they will get a 1099-NEC. For a majority of you listening, that's probably the form you are going to stick to."
- Brittney Suttle on the definition of a 1099-NEC form. 

"A 1099K is not something you are going to have to file, but it might be something you receive. 1099 Ks are forms that third-party payment processors, which has visa like credit cards, American express, Venmo, Cash App, etc. Those processors have to send 1099Ks, for amounts paid to people for business income., So you don't have to fill out 1099 Ks, but you may receive it if you get paid above the limit that is set by the IRS via those third-party processors."
- Brittney Suttle on 1099Ks and when you will likely receive them and why. 

"If you send a 1099 to someone that you shouldn't have, that's signaling to the IRS that they made more than they actually did. Again, this could cause a lot of headache for them because the IRS is going to come back and say we are applying this much more in taxes, fees, and penalties and all of this because you under-reported income. So if you catch that someone sent you a incorrect 1099, or you as the sender figure out that it was incorrectly sent or there's a mistake. You can always file a corrected form that will then get sent to the IRS, you also you provide it to the client and then it will get taken care of."
- Brittney Suttle, explaining what happens if you get sent an incorrect 1099 form or you sent out a form with a mistake.

Learn More About 1099s and The Legal Paige's Resources Page: 

• The Legal Paige's 1099 Resources

 Follow Brittney: 

Taking time off is easier said than done, am I right?! I love my business. You love your business. We've poured our hearts and souls into them. Oftentimes though, we're so scared to take a vacation because we feel like things just can't run without us. Even though, as entrepreneurs, we actually need time to unplug. Taking that break is going to do us all a lot of good as the creative CEO of our business.

Episode Highlights:

• How you can plan to actually take time off in 2022
• Why it's so important to actually put this time in your calendars and fully disconnect
• As the business owner and CEO this is one of the most important things you can do for yourself and business (besides getting legally legit courtesy of The Legal Paige)
• The difference between working vacations and personal vacation, and why you need both (I am a huge fan of scheduling both in my calendar)
• Why I am giving you full permission to take time off over during the holidays 

The Legal Paige Podcast Shownotes

Worth Noting:

"I want you to plan one long weekend a quarter, if not one long weekend a month, that's like the ultimate goal in my opinion. But if you are feeling a little bit of pressure, that you can't take that much time off from your business. You really need the income, and you need to continue working on your business. I get that! You might be at a different place than others in their own entrepreneurial journey and that's ok."

"As you're strategically taking time off as a business owner, I also want you to think about seasons of business. So if you are in the wedding industry, for example, taking time off in the middle of a wedding season might not be the best idea. Taking long weekends is a really good idea or long periods of time during the week. Right? Because, we all work on the weekends in the wedding industry. Taking an actual Monday through Thursday as time off would be beneficial to you, but you are probably not going to be taking big trips during those times and taking weeks off at a time."

"As a business owner, the memories that you create, the personal experiences, and rest and relaxation are filling up your cup. When you take time off it's priceless, you can't put a price on that. I want you to have that in your life. You need work-life balance, you need vacations, and you need time. So just do it right now, and plan at least one to two in the next six months. We can't pour from an empty cup period."
 

The Legal Paige's Free Passive Income Guide: 

• How To Set Up Your Biz For A Profitable & Legal Passive Income Stream

Find Contracts & Clauses in The Legal Paige Shop:

• The Legal Paige Shop

Join Our Free Facebook Community:

• Join The Legal Paige's Facebook Community

Hope Taylor is a senior portrait and wedding photographer serving both Charleston and Savannah joins us on The Legal Paige Podcast. If you are ready to get organized for Q1, or every quarter for that matter, this episode is for you!

Hope began her business at 16 years old and decided as a senior in high school to pursue her business full time, instead of going to college. Eight years later, she teaches photographers and small business owners how to grow their business quickly and strategically. I knew she was the expert to have on the show!

Episode Highlights:

• How to plan for Q1 the right way
• Hope's go-to resources to help make quarterly and yearly planning more fun
• Why planning is going to really help you see both seasons of your life (busy in business, and busy in your personal life) and help you integrate them together 
• The ROI planning is always going to give you in life and business
• And Hope's entire process from start to finish when she is sitting down to plan

The Legal Paige Podcast Shownotes

Follow Hope: 

• Hope Taylor's Instagram
• Hope Taylor's Website
• Hope Taylor's YouTube Channel

Quarterly Planning Calendars Hope Uses: 

• Kat Schmoyer's Printable Calendars

Find Contracts & Clauses in The Legal Paige Shop:

• The Legal Paige Shop

Join Our Free Facebook Community:

• Join The Legal Paige's Facebook Community

Atiya Brown aka The Savvy Accountant, a CPA, CA and a Certified Financial Educator Instructor, joins us on The Legal Paige Podcast. If you are looking to get some answers to all "end of the year tax questions", stay tuned because this episode is for you!

Atiya is dually licensed in both Canada and the USA as a Certified Public Accountant, with a 16 years experience in the accounting/finance world.

Episode Highlights:

• How to get your ducks in a row for the end of the year
• What business tax deductions you might be overlooking
• Questions to ask yourself to help determine if it's a valid deduction for your business
• Why December is typically too late to try to tax plan
• Of course, we touch on 1099K's
• And why we want you to be proactive now when it comes to taxes and outsourcing help, versus being reactive when or if an audit happened

The Legal Paige Podcast Shownotes

Free Guide from The Legal Paige: 

• Get The Legal Paige's Free Business Structure Guide

Find Contracts & Clauses in The Legal Paige Shop:

• The Legal Paige Shop

Follow The Legal Paige:

• Join The Legal Paige's Facebook Community
• The Legal Paige On Instagram
• The Legal Paige On YouTube

Follow Atiya: 

• Atiya Brown's Instagram
• Atiya Brown's Website

Today, CPA Amy Northard and I are talking all about gifting as a business owner, and what is a tax deductible. 
 

The Legal Paige Facebook Community: https://www.facebook.com/groups/602195700208827

The Legal Paige On Instagram: https://www.instagram.com/thelegalpaige/

The Legal Paige Podcast Shownotes:
 https://thelegalpaige.com/blogs/podcasts/episode-114-gifting-as-a-business-owner-what-is-and-is-not-tax-deductible-with-cpa-amy-northard

Today I am talking all about Black Friday week and how to approach the sales as a business owner. But, first of all, happy Black Friday week! If you are a business owner running a sale, I hope it's going smooth with lots of sales rolling in!

l Paige Facebook Community: https://www.facebook.com/groups/602195700208827

The Legal Paige On Instagram: https://www.instagram.com/thelegalpaige/

The Legal Paige Podcast Shownotes:
 https://thelegalpaige.com/blogs/podcasts/episode-113-how-to-approach-black-friday-sales-as-a-business-owner

Today, I am talking all about The Legal Paige, and what sets our template contracts apart from others! 
 

The Legal Paige Facebook Community: https://www.facebook.com/groups/602195700208827

The Legal Paige On Instagram: https://www.instagram.com/thelegalpaige/

The Legal Paige Podcast Shownotes:
 https://thelegalpaige.com/blogs/podcasts/episode-112-what-sets-tlp-contracts-apart-from-other-online-contract-shops