Nov 15, 2020
Do you have an A-team for your business? No, I don’t mean Mr. T and his band of highly trained special forces. I mean your own team of highly trained forces that can help you stay on top of the accounting, tax, legal, and financial obligations of running a successful solopreneur business.
The more successful you are the more confusing your business can become. Your A-team can help you tackle the complexities that arise as you succeed in running your business. Listen in to hear how you can find your own A-team to help you with the intricacies of running your small business.
Does it seem like every time you level up in your business new problems arise? Being a successful solopreneur is challenging. You have to stay on top of the accounting, tax, legal and financial obligations that come with running a thriving solopreneur business. If you choose to handle all of these matters on your own you’ll quickly realize that you no longer have time for your actual business.
An A-team is more like a triple A-team since it can consist of an accountant, an attorney, and an advisor. These specialists will guide you in the complex areas that you may not understand well.
When searching for an accountant, look for a CPA who can help you with taxes while providing business advice and guidance. A good CPA spends plenty of time advising small business owners and will be a wealth of information for your solopreneur business. In addition, they can help with payroll taxes and your annual tax returns. The real value of having a CPA comes from the relationship and future planning that you get from regular visits.
You’ll want to make sure that you find an attorney who specializes in small businesses. Your attorney will help you get proper liability protections to make sure you are covered in all the areas you need. They can help you set up the legal structure for your business, create an estate plan, and arrange any agreements you may need.
Find a financial advisor that is a CFP and they will become an invaluable part of your team. A financial advisor is like the quarterback who can see the whole field. They provide an understanding of tax, legal, and estate planning issues. The right financial advisor will work in cooperation with the other advisors on your A-team.
It’s important to get the right team in place to help you with those questions that you don’t know how to answer. But before you run out and hire the first specialists you meet, you need to take a minute to learn the right questions to ask so that you can vet them well. Find out the questions you need to be asking of potential accountants, attorneys, and advisors by pressing the play button.
I’d like to help you master your finances so that you can gain the freedom to create the life you want. Just click the start here button over at GabeNelsonFinancial.com to start the process. You can use the questions you learned to ask on this episode today plus your own to discover if I would be a good fit for you.
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