Virtual Support
You can learn at your own pace, and tax support is just a video call away
-
Module 1: Identify and Evaluate Your Side Hustle
-
Discovering Your Passion
In this module, we will participate in self-reflection exercises to identify what excites and motivates each individual. We will learn techniques for conducting a skills assessment and seeking valuable feedback from peers.
-
Why is self-reflection critical?
Self-reflection helps you understand what activities energize you and what you love doing, laying the foundation for a sustainable business model.
-
What is a skills assessment, and why should you conduct one?
A skills assessment involves listing your skills and experiences to see how they can translate into marketable services or products.
-
How can Google Trends assist in market research?
Google Trends helps you measure interest over time, allowing you to identify demand for your ideas and observe seasonal trends.
-
-
Module 2: Setting Up Your Business Legally and Financially
-
Laying the Foundation for Your Business
This module explores the various legal structures available for businesses, including sole proprietorships, LLCs, and S Corporations, while emphasizing their benefits and liabilities.
We will discuss the importance of consulting with professionals to select the appropriate structure for your needs.
Furthermore, we will guide you through the process of obtaining the necessary licenses and permits based on your business type and location.
-
What are the benefits of forming an LLC?
An LLC merges the ease of a sole proprietorship with liability protection, securing personal assets while providing management flexibility.
-
Why is it important to research local regulations?
It's essential to understand local business regulations and zoning laws to ensure compliance and avoid legal issues.
-
What are the benefits of consulting a professional?
A legal professional can provide tailored advice on business structure, compliance, and other legal requirements, reducing risks for the entrepreneur.
-
-
Module 3: Managing Finances and Understanding Deductions
-
Why is it important to separate personal and business finances?
Separating finances simplifies accounting and strengthens the business's credibility and integrity.
-
What are the benefits of using accounting software?
Accounting software streamlines bookkeeping, making tracking income, expenses, and tax obligations easier.
-
What should be included in your startup costs?
Startup costs may include website development, inventory, and equipment necessary to launch your business.
-
Why should you allocate a marketing budget?
Allocating a marketing budget is vital for attracting and retaining customers through advertising and promotions.
-
-
Module 4: Health Insurance
-
Health Insurance for Self-Employed Individuals
This module focuses on the unique challenges faced by self-employed individuals regarding health insurance.
We will explore options such as private plans, healthcare-sharing ministries and marketplace coverage.
You will also learn about tax deductions for health insurance premiums and other financial resources available for self-employed individuals.
-
How can you determine which health insurance option is best for you?
It's important to consider factors such as cost, coverage, and your healthcare needs when choosing a health insurance plan.
-
What tax deductions can self-employed individuals claim?
Self-employed individuals are allowed to deduct premiums for health, dental, and long-term care insurance.
-
How to prepare financially for potential health emergencies
Creating an emergency fund and exploring alternative options like short-term disability insurance can help mitigate the financial impact of unexpected health issues.
-
Are you tired of struggling through tax season alone?
Virtual Tax Support is here to make your life easier
Our convenient, efficient solutions allow you to file your taxes anytime and anywhere.
Are you tired of struggling through tax season alone? Virtual Tax Support is here to make your life easier Our convenient, efficient solutions allow you to file your taxes anytime and anywhere.
MY TAX GUY KEFORIE
Keforie Dhie, CRTP A258117
Virtual Tax Support is here to make your life easier. With just a video call away, our team will guide you through the process step by step.
What you’ll learn
-
With a clear understanding of your passion, market demand, and your qualifications, it's time to create a comprehensive business plan.
-
Creating a simple business model is an exciting opportunity to translate your vision into a practical, actionable plan.
-
Without a clear separation, you may struggle to identify business-specific expenses, leading to missed deductions and potential errors on your tax returns.
FAQs
-
Services include individual and business tax preparation, tax planning, IRS representation, and assistance with state-specific tax issues, ensuring comprehensive support throughout the entire tax filing process.
-
By offering expert guidance, streamlined processes, and customized tax strategies, MY TAX GUY KEFORIE alleviates the stress of tax season, ensuring clients maximize deductions and credits while adhering to state and federal regulations.
-
Yes, MY TAX GUY KEFORIE provides a fully remote option for tax filing, utilizing secure online platforms that allow clients to submit documents and communicate effectively from the comfort of their homes.