Do you know you can pay your kids to work in your small business, then deduct it from your taxes???

Which Business Entity should you choose? Let's discuss the difference between an LLC and S-Corp, and why you should choose one over the other.

1. How about having another source of income to fall back on?
2. Embarking on a project you love
3. Turning your hobby into a business that actually make’s money
4. How would it be to have the independence to run a business the way you think it should be ran?
5. Create a legacy to pass on to your family
6. One of the biggest reasons to start a small business: Save taxes
7. The MOST important reason in my opinion:  A way to build more wealth

Some businesses are very successful at being everything, to everyone, but when you are first starting out in business, whether it be a new product or service it is best to specialize in doing one or two things. Learn to do them well, become an expert, and SPECIALIZE.

When business owners are first getting started, they tend to bite off more then they can chew, and become overwhelmed, and fail, not necessarily completely, but they can't get to the point of making money, because they are doing "too much".

Focusing on only a few key services or products also helps with marketing and branding. More money can be spent focusing on a few items, rather than a whole array of options.

If you are struggling with what to focus on, try starting ...

Business Credit Reports are Very Different from Personal Credit Reports

It is a common misconception that business credit reports operate like personal credit reports. This assumption can create issues on your business credit report.