Starting a business, freelancing, or running a side hustle comes with big questions about taxes and legal structure. In this Savvy Ladies webinar, presented for Sanctuary for Families, tax attorney Matthew E. Foreman, J.D., LL.M., breaks down small business tax basics in plain language.
Matthew is a Partner at Falcon, Rappaport & Berkman and a longtime Savvy Ladies volunteer and Board Member. He explains the difference between forming an LLC and being taxed as an S corporation, why a single-member LLC can protect you from liability, and how to report 1099 income, even when you never receive the form. He also covers which business expenses you can deduct, why separating personal and business finances matters, and how long to keep your records.
You’ll also hear practical guidance on sales tax, payroll taxes, registering a business in more than one state, and where to find free tax help, including VITA sites and law school clinics. The Q&A includes real questions from attendees on topics like ghost kitchens, selling art, and food businesses run from home.
More Tips on Taxes for New Business Owners
Want to go deeper? Watch the recording below from a 2023 Savvy Session, Starting a New Business? Get the 411 on Taxes. Matthew is joined by tax advisor Alicyn McLeod, CPA, CFP®, for another look at what new business owners need to know about taxes, along with more audience Q&A. The two sessions overlap, so you’ll hear some familiar topics from a second perspective.
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Note: These webinars are general educational information, not tax or legal advice. Some examples are specific to New York.
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