Do you guys recommend running everything through a company

buildandbuild · Oct 10, 2023

Hi guys I just started a marketing firm and am considering opening a company and running everything through there.

Do you guys recommend putting stuff like google ad accounts etc under expenses?

Any tips?

Thanks!

roydan · Oct 10, 2023

Yes, but you should talk to a local accountant and tax consultant. They should know the ins and outs of the law.

Panther28 · Oct 10, 2023

Yep, everything you can, just make sure you get all your receipts addressed to your business, and you'll find wherever you go, your official company registration documents hold weight. Good for opening revenue channels, and appealing decisions.

buildandbuild · Oct 10, 2023

Panther28 said:
Yep, everything you can, just make sure you get all your receipts addressed to your business, and you'll find wherever you go, your official company registration documents hold weight. Good for opening revenue channels, and appealing decisions.

thanks! do you also think this is possible with payments that are made via crypto? as many of the services today only accept crypto, i was wondering if this is going to be an issue?

maybe i need to make a separate wallet and address that is the "company wallet" perhaps?

edit: grammar

Panther28 · Oct 10, 2023

buildandbuild said:
thanks! do you also think this is possible with payments that are made via crypto? as many of the services today only accept crypto, i was wondering if this is going to be an issue?

maybe i need to make a separate wallet and address that is the "company wallet" perhaps?

edit: grammar

If you can find a legit company that for example, is FTC regulated or whatever the equivalent type of thing for the country, and they aren't just a fly-by-night company. (ideally, you should test the transaction stream once with them to make sure it works.) But there was a couple of companies, last time I was preparing a crypto solution, and still plan to, just can't remember the companies, but that was months ago, so they probably still there with more by now.

roydan · Oct 10, 2023

Given that your paying taxes in your local currency and not in crypto, you should understand how they do the conversion (is it the rate at the time of transaction? End of day, month? In which exchange? How do the transaction fees calculated, is it cost or deducted from the income?

cybergold2 · Nov 26, 2023

You create a company to protect your personal assets from liability, e.g. the business goes down, but you still keep your car/house/etc.

If you provide marketing services the risk of liability is pretty small, unhappy clients typically will not hire you again instead of sueing you for a shitty campaign.
Consequently, I believe you do not neet to incorporate.

However, get an accountant and keep your business and private funds separate.
Fucking with the tax man is not a good long term business strategy.

JoDoctor · Nov 26, 2023

Yes. You can

kenova · Nov 26, 2023

Dont expect good financial advises on a forum mate. Get an accountant better

SilverClouds · Nov 27, 2023

cybergold2 said:
You create a company to protect your personal assets from liability, e.g. the business goes down, but you still keep your car/house/etc.

If you provide marketing services the risk of liability is pretty small, unhappy clients typically will not hire you again instead of sueing you for a shitty campaign.
Consequently, I believe you do not neet to incorporate.

However, get an accountant and keep your business and private funds separate.
Fucking with the tax man is not a good long term business strategy.

Speak for yourself, they want to sue me for good campaigns even (they're angry they had to pay). Didn't end up in court so far (there was no legal reason to sue me!) but if they could, they would.

1SEOWarrior · Nov 27, 2023

cybergold2 said:
You create a company to protect your personal assets from liability, e.g. the business goes down, but you still keep your car/house/etc.

A limited company is preferable here. Your company goes bankrupt but you are still rich.

Do you guys recommend running everything through a company

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