Hardware Podcasts

150: Sad Country Song

Embedded.fm · 4 May 2016 · 1h 04m

What this episode covers

Torie Charvez, owner of Tax Goddess, explains the financial and legal realities for engineers starting consulting businesses or selling physical products. She details the differences between sole proprietorships, LLCs, and S-Corps, emphasizing the necessity of payroll and tax discipline to avoid IRS penalties. The discussion covers specific tax rules for deductions, inventory management for product sellers, and the proper procedures for closing a business.

Most relevant to

early-stage companies

Topics

Mentioned

Companies
Tax Goddess, Planet Labs
Tools
QuickBooks
Also
IRS

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