She Means Profit

Business Legality Basics with Braden Drake: The Fun Side of Protecting Profit

June 20, 2022 Braden Drake Episode 101
She Means Profit
Business Legality Basics with Braden Drake: The Fun Side of Protecting Profit
Show Notes

When you’re starting a business for yourself, the legal side of your finances and profits can often feel overwhelming. How do you make sure all your bases are covered? How do you manage profit that’s protected? What about planning for taxes? Should you make an LLC or an S Corp? Luckily, there’s assistance for that!

Today we are joined by Braden Drake, who uses his lawyer background and peppy personality to mix fun with facts in finances, make taxes less taxing and bring the party to profit, and this episode is all about bringing things to the legal basics. We look layer by layer at legal protections (insurance, trademarks, intellectual property and contracts), the pipeline of cash flow management (how your money travels from business account down through to retirement), going from startup capital to business profit, passive v. active income (and where employment taxes come into play) and building out systems all in an accessible way.

We also address the common struggles and questions many new business owners have, from financial strategies to the benefits of an LLC and other legal protections. It may sound overwhelming on the outside, but this episode keeps it accessible - and, believe it or not, pretty fun!

Are you a new business that is stressing about building cash flow systems? Do you know your layers of protection when it comes to trademarks and contracts? Is prepping for taxes overwhelming you? That’s where this episode comes into play.

In this week’s episode, we take a look at employment taxes, legal jargon, layers of financial protection in the eyes of the law, navigating tax laws to get to the tax benefits and much more.

You’ll Learn:

  • The benefits of establishing an LLC or S Corp
  • The importance of trademark law
  • How contracts can be your best friend
  • Employment taxes and passive v. active income advantages

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