20 min
013- The Business Blueprint Every Drag Queen Needs For Financial Success Business of Drag
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- Entrepreneurship
On this episode of the podcast I dive into Part 6 of my series on the tax basics and legal fundamentals for drag queens and LGBTQ+ entertainers. Today's lesson is covering the Small Business Blueprint you need to legally set up your drag as a business.
If you're new to the series, take a pause to check out my intro episode and then Part 1 of the series. Missed the most recent lesson? Check out Part 5.
_____________________________________________
🤓 Get a free copy of my bookkeeping template
📘 Grab a copy of the book _____________________________________________
In my book I teach what I call the "Unf*ck Your Biz Framework," a five part framework to put your finances back together with legal and tax strategies. So far in these lessons we've gone through about half of the book and covered general tax systems, business liability, how much you should be saving for taxes, and back taxes. Today we're talking about the Small Business Blueprint.
With drag entertainers I find that there's a gap between those who view their drag as a business and consider themselves freelancers, and those who don't. If you're trying to make some money, you're doing yourself a disservice not treating yourself like a business.
The Business Blueprint is made up of 14 steps and you can download your own copy of the Blueprint here.
Get a registered agent
Choose business name and check availability
Determine entity and file articles
Get your employment identification number (EIN)
Get your seller's permit
Get your Business License or Tax Certificate
Get your Fictitious Business Name License (DBA)
Set up Operating Agreement
Take Meeting Minutes
Determine if you need a Statement of Information
Pay Annual Franchise Tax/Fee
Become an S Corp if applicable
Set up Business Bank Accounts
Run payroll
_____________________________________________
𝗖𝗢𝗡𝗡𝗘𝗖𝗧 𝗪𝗜𝗧𝗛 𝗠𝗘
📷 Instagram: https://www.instagram.com/dragtax
🐦 Twitter: https://twitter.com/dragtax
🤳🏻 TikTok: https://www.tiktok.com/@dragtax
🖥 Website: https://www.dragtax.com
📧 E-mail: braden@dragtax.com
___________________________________________
𝗗𝗜𝗦𝗖𝗟𝗔𝗜𝗠𝗘𝗥𝗦
THIS IS NOT LEGAL ADVICE - Everything contained on this channel is meant solely for entertainment and informational purposes. Nothing herein should be considered legal advice nor does anything on this channel create an attorney-client relationship of any sort. Please seek guidance from a licensed attorney before making any legal decision.
COPYRIGHT - Any use of copyrighted content on this channel constitutes fair use pursuant to 17 U.S. Code § 107 as it is utilized for the purpose of criticism, comment, or news reporting allowed under that statute. See, e.g., Monster Communications, Inc. v. Turner Broadcasting Sys. Inc., 935 F.Supp. 490 (S.D. N.Y., 1996); SOFA Entertainment, Inc. v. Dodger Productions, Inc., No. 2:08-cv-02616 (9th Cir. Mar. 11, 2013); Equals Three, LLC v. Jukin Media, Inc., 14-09041 (C.D. Cal. Oct. 13, 2015).
AFFILIATE LINKS - This description may include affiliate links that allow me to make a small profit (at no extra cost to you!) on purchases made through them. I only include links to products I genuinely recommend.
On this episode of the podcast I dive into Part 6 of my series on the tax basics and legal fundamentals for drag queens and LGBTQ+ entertainers. Today's lesson is covering the Small Business Blueprint you need to legally set up your drag as a business.
If you're new to the series, take a pause to check out my intro episode and then Part 1 of the series. Missed the most recent lesson? Check out Part 5.
_____________________________________________
🤓 Get a free copy of my bookkeeping template
📘 Grab a copy of the book _____________________________________________
In my book I teach what I call the "Unf*ck Your Biz Framework," a five part framework to put your finances back together with legal and tax strategies. So far in these lessons we've gone through about half of the book and covered general tax systems, business liability, how much you should be saving for taxes, and back taxes. Today we're talking about the Small Business Blueprint.
With drag entertainers I find that there's a gap between those who view their drag as a business and consider themselves freelancers, and those who don't. If you're trying to make some money, you're doing yourself a disservice not treating yourself like a business.
The Business Blueprint is made up of 14 steps and you can download your own copy of the Blueprint here.
Get a registered agent
Choose business name and check availability
Determine entity and file articles
Get your employment identification number (EIN)
Get your seller's permit
Get your Business License or Tax Certificate
Get your Fictitious Business Name License (DBA)
Set up Operating Agreement
Take Meeting Minutes
Determine if you need a Statement of Information
Pay Annual Franchise Tax/Fee
Become an S Corp if applicable
Set up Business Bank Accounts
Run payroll
_____________________________________________
𝗖𝗢𝗡𝗡𝗘𝗖𝗧 𝗪𝗜𝗧𝗛 𝗠𝗘
📷 Instagram: https://www.instagram.com/dragtax
🐦 Twitter: https://twitter.com/dragtax
🤳🏻 TikTok: https://www.tiktok.com/@dragtax
🖥 Website: https://www.dragtax.com
📧 E-mail: braden@dragtax.com
___________________________________________
𝗗𝗜𝗦𝗖𝗟𝗔𝗜𝗠𝗘𝗥𝗦
THIS IS NOT LEGAL ADVICE - Everything contained on this channel is meant solely for entertainment and informational purposes. Nothing herein should be considered legal advice nor does anything on this channel create an attorney-client relationship of any sort. Please seek guidance from a licensed attorney before making any legal decision.
COPYRIGHT - Any use of copyrighted content on this channel constitutes fair use pursuant to 17 U.S. Code § 107 as it is utilized for the purpose of criticism, comment, or news reporting allowed under that statute. See, e.g., Monster Communications, Inc. v. Turner Broadcasting Sys. Inc., 935 F.Supp. 490 (S.D. N.Y., 1996); SOFA Entertainment, Inc. v. Dodger Productions, Inc., No. 2:08-cv-02616 (9th Cir. Mar. 11, 2013); Equals Three, LLC v. Jukin Media, Inc., 14-09041 (C.D. Cal. Oct. 13, 2015).
AFFILIATE LINKS - This description may include affiliate links that allow me to make a small profit (at no extra cost to you!) on purchases made through them. I only include links to products I genuinely recommend.
20 min