Mastering Business Basics

Text us your opinion or questions

 Welcome to another edition of Mastering Business Basics. You know, in the last two decades that I've been doing taxes for people, one problem that always comes up once or twice or three times a year is people sit down to do their taxes, and they have this huge tax bill, and they can't figure out why. 

So I look at their W-2s and say, "Well, do you realize you didn't have any withholding?" Or, "You only had a hundred dollars withheld for the entire year?" And they totally freak out. 

So this is a subject that a lot of people don't understand, especially since 2020 when they redid the tax laws, and that's something I want to address today. More importantly, I want to go through the seven times when things happen in your lives that you need to redo your W-2 withholding to compensate for them.

Links in this episode: 

     https://www.irs.gov/w4
     https://www.irs.gov/individuals/tax-withholding-estimator

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

Sometimes the best way to go about building a business is to listen to the journeys of those who have been through the process and what they have learned along the way.  Being an entrepreneur is more than just building a business, but even more so about a state of mind.

Today's guest, Lance Cayko, guides us through his journey and what it means to do it all while maintaining your perspectives of life.  It was worth listening to more than once.

You can reach Lance through his business website at https://f9productions.com or listen to his podcast at https://insidethefirmpodcast.com.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

Over the last few months, we've discussed a variety of things. We started out with talking about what the three pillars are to build a solid foundation under any kind of business that you want to run. we've talked about your skill sets, how to examine yourself, how to determine what skill sets you need to learn and which skill sets you need to hire out and bring into your organization. 

And we've talked about consumer direct marketing, and that's a way, with no investment, you can actually build a business that can give you residual income for the rest of your life. But today, we're going to look at something that you do have to put money into, and often it's hundreds of thousands of dollars to get started. 

And that's the subject of franchising. And I think you'll be amazed at how many different things you have to take into consideration before you jump into this way of doing business. 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

Marketing is probably one of the most fluid and confusing parts of running a business.  One of the things that everybody's heard in the news lately is the subject of artificial intelligence, or AI, as we all know it as. But, what a lot of small business people don't realize is how that is affecting their marketing, and the statistics and analytics they get from marketing are probably going to be skewed because of it.  

We have a special guest today, and we're going touch on that subject and a lot more.  Don't let your business get lost in the dust...

Website mentioned in this episode: https://uplift360.com.au 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

Welcome back to Mastering Business Basics. In the last few weeks, we've talked about how to build a solid foundation under your business. And 📍 on top of that, of course, you build the structure of your business, your employees, your services, whatever it is that you are into. But at some point, you have to do a little marketing. And marketing can become a tricky business because how do you know if it's working or not? 

Well, we have a guest today that would like to talk to you about that subject, and it's called analytics, how to determine if your marketing is working or not. Her name is 📍 Philippa Gamse, and she's clocked over twenty-five years in digital marketing strategy and analytics. She's consulted with nearly five hundred clients and worked with websites that have cumulatively generated hundreds of millions of dollars. Owners and marketing executives hire 📍 Philippa to find new insights into their web analytics that will help grow their business and cut wasteful spending because many are missing those hidden gems.

Learn what You may be missing.  You will find Philippa's book , Website Wealth, at: https://books2read.com/u/4jjAol 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

Thankfully, tax season is over and I am back, and I'm going to talk today about something I've been wanting to talk about for a while, and I think is a very important subject. Because the statistics show that 70% of the people in this country are looking for a way to make extra money, and most of them are losing money instead. And that's a shame. 

 There's basically two ways that you can make extra money. You can just work and earn money and then go back and work and earn money. And the other is to create residual income that continues to pay you money long after you've quit the work.  But there are some pitfalls you need to know before you start your journey.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

Let’s start off with the elephant in the room: Almost nobody likes to do paperwork. Especially the business person starting out whose sole objective is to get enough clients to pay the bills.

And yet, if you truly want to Protect the Profits that your business makes from runaway expenses or getting overly taxed - then we need to talk about bookkeeping, creating reports, and hiring people - and why they are so important to have a general understanding of.  They are  the glue that holds the whole thing together.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

If you are really serious about building a business to last a lifetime, it needs to be built on a solid foundation, not the shifting sands of life.  In this episode, we continue that journey with the second pillar of your foundation: Why it is important to have a basic understanding of the tax consequences of choosing the various legal formats for your business and why to know this if you are hiring an accountant or tax professional.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

If you are really serious about building a business to last a lifetime, it needs to be built on a solid foundation, not the shifting sands of life.  In this episode, we begin that journey with the first pillar of your foundation: Why it is important to have a basic understanding of the available legal formats you have to choose from and which is better for each stage of building your business.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Text us your opinion or questions

There's three pillars that undermine every business. I don't care if you're a small Schedule C or whether you're a huge C corporation, it doesn't matter. 

All three of these things are important. It's just the scale of them that changes. And those three pillars are your legal format, your logistical organizations, and your tax considerations. You have to know these because if you change one, it changes the other two. They work together. 

That's why it's important to know all three of these because if you change something over here, you could be changing things over there and not realize it, get yourself in a lot of trouble, or lose a lot of money in the process  

We don't want that.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books