Where to start learning finance?

Marko

Marko

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Feb 23, 2016
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Hello team,

I got to the point where I have to incorporate. I've spent so much time with SEO and learning everything else that now I'm overwhelmed by the finance/business details I have to learn. And because of that I have postponed incorporating for months and not paying taxes and it's time to do all of that now.

Could you share what do you think it's the most important thing to know when owning a company?

Thank you
 
I don't know your exact circumstances, however, if you are making significant money and growing, I recommend seeking an accountant who understands how online businesses work.

Accountants aren't just number crunchers who do tax returns. They can help structure your business in a way that is the most beneficial to you. Yes, it will cost you money in the short term, but that's because they know their stuff and you are paying for their expertise. Ask yourself, if you did it yourself and fuck it up, how much could it cost you down the road?

Which country do you live in? If it's Australia I can refer you to one who knows his shit regarding online businesses.
 
Thanks

I'd like to incorporate in US and also get some offshore.

Before going to an accountant I need to know what he's doing. You know, trust issues
 
There is no way - as a layman - to quickly learn what an accountant is doing.

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Half of it is occult number mythology the other half is comprised of bloodbound demons and sex magick with IRS workers.

Jokes aside:
Have him talk you through it, and ask until you feel confident you understand what he is proposing.
 
Incorporate with an LLC filing as S-corp or just as a straight S-corp.

Project management system + invoice software + accounting software + bookkeepers.

Track every incoming / outgoing financial transaction and make sure it can be tracked through the entire pipeline above.

At the end of the year, give your CPA the financial documents your bookkeepers prepared.

Done.
 
I'd talk to a Tax Attorney before anything.

Much more knowledgeable than a CPA or Bookkeeper. Hire one that is a former IRS agent as there are tons of them around.

Once you talk to them and have them incorp you under what they tell you to set up as, then go find your CPA and bookkeeper.

I've done this a few times in the past and it was very very educational.
 
Thank you very much!

One good book I found on my concerns is Venture Deals by Brad Feld. Will check it out
 
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