“So you want to be your own boss. Tired of someone else telling you what you have to do? Ready to break-free and do it YOUR way? Good for you! Congratulations! It’s an awesome experience! Let me give you a couple of beginner’s tips: Find a good lawyer and a good accountant.
‘WHAT?!’, I can hear you say, ‘Those cost money!’ OK, here’s another tip, now that you’re a business owner, learn the difference between spending money and investing it. No, I’m not talking about the stock market. I’m talking about the money you put towards good professional help, especially in the legal and accounting areas, is an investment, not just an expense.
OK, don’t get all goofy on me, yes it’s an expense when it comes to doing your taxes, and that good accountant you hired will tell you so. But more importantly, it’s an investment in that those two people can save you a lot of money, headaches, and time in the future. Ever heard of somebody getting audited by the IRS? (For those outside the United States, the IRS is the federal tax authority in the USA.) How much time, headache, and money do you think an audit can cost you? Invest the money to get good help up-front and minimize the chance of that happening.
Why a lawyer? Well, hopefully you won’t ever get sued over the work you do, but you very likely will be entering into contracts for that work. A good lawyer will look out for your best interests and advise you about the terms found in the contracts BEFORE you sign them.”