Have you ever wanted to own your own business but didn’t know how to get started? We sure didn’t. It has been our dream for years to own our own business, and we have finally succeeded. Yet, when we first realized that we wanted to be business owners, we had absolutely no idea what that meant or how to achieve our goals. [Read more…]
So, you’ve decided to start your own blog or business. You’ve been working it hardcore, and you may even be making a few stacks from your new gig. If so, it may be time to start your own LLC.
What is an LLC anyway?
An LLC (short for Limited Liability Company) is a business entity that can be formed in any of the 50 nifty United States. It is neither a corporation nor is it a sole proprietorship/partnership. Instead, you get the best of both worlds by combining the two. An LLC offers the simplicity and flexibility of starting a sole proprietorship while providing you with the limited liability enjoyed by corporations. In other words, an LLC separates your personal assets from your business assets – protecting them, in theory, if your business was ever to be sued. Furthermore, owners in the LLC (referred to as “members”) enjoy the same pass-through taxation treatments that partnerships and sole props are given. Thus, business income is only taxed once instead of twice like in a C-Corp. Pretty sweet deal, eh? [Read more…]
A few weeks ago, my 5-year-old daughter and I were having a conversation about a wedding she went to with Holly. She was telling me about how much fun they had on the dance floor, spinning in circles and dancing with the other kids her age. I told her, “I wish I could have been there, but I had to work.” She responded flatly, “I wish you could have been there too, Daddy. But you have to miss lots of important days because of your work.”
And there it was…the response I’ve been dreading for years. Up to now, my children have been young enough that they haven’t noticed my schedule that much. Luckily, I have yet to miss anything important of theirs – mostly just extended family events – and I do spend almost all of my free time with the family. But how long is that defense going to last. As they get older and become more involved in different activities, I’m sure that I am going to have to miss the occasional game, recital, or event – much to their disappointment. [Read more…]
Well, as you probably know, we just got back from a pretty swell vacation in St. Maarten. Basically, what that means is that I’ve been checked out of the world for the past week. When we got back, I took a quick look at my calendar, noticed it was mid-January, and went about my usual Tuesday bidness. Then, I sauntered over to the giant stack of mail waiting for me on the counter. After sifting through the endless mound of junk, I ran across a few tax forms. “HOLY SCHNIKES!” I realized. It is tax time again! [Read more…]
Huzzah! The Christmas season is finally over, and DAAAAYUUMMM am I glad. Now that we’ve finally dug ourselves out from the avalanche of new Frozen items, it is nice to sit back and reflect a little about this Christmas season. Along with spending quality family time with our kids, we also tried to use this holiday season as an opportunity to teach our girls a few things that we think are important about money. Here are a few of the things that we actively tried to teach our kids this holiday season. [Read more…]
Ah, the end of the year. It is a time for ugly sweaters, family
fights fun, and eggnog….lots of sweet, alcoholic, eggnog. It is also a great time to reflect on the year that was, the year that is going to be, and the principles that make us who we are. So, if you’ll indulge me, I invite you to put down that moldy piece of fruitcake, pull up a chair, and take a peek at some of the things we think are important here at Club Thrifty. And, when we are done, maybe there will be time for a carol or two. [Read more…]