Jimmy Choos, Tax Write-Offs & the Real Cost of Starting a Business

Jimmy Choos, Tax Write-Offs & the Real Cost of Starting a Business

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Starting a business is exciting.

Then somebody starts talking about estimated taxes, retirement accounts, cash flow, business expenses, and whether the Jimmy Choos you bought for a speaking engagement are actually a tax write-off.

Apparently, they probably aren't. Rude. 😂

In this episode, I’m joined by my friend Felicia Greenwald, founder of Aventurine Planning, Tax Strategist and Financial Planner, to talk about the financial side of entrepreneurship that doesn't get nearly enough attention.

If you're building a business while you're still employed, this conversation is especially important.

We talk about why keeping your corporate paycheck while you build can give you more freedom, not less. We dig into what you should be thinking about financially before you leave corporate, how to prepare for taxes once money starts coming in, and why entrepreneurship seems to cost more than you think it will.

We also talk about the people waiting to sell new entrepreneurs the next thing that's supposedly going to explode their revenue. Because apparently the minute you start a business, someone appears promising to help you make $10K, $100K or $1 million if you'll just hand over your credit card.