Hey, creative. Do you have an llc, a limited liability corporation for your creative endeavor? Do you have an LLC or are you like a sole proprietor or something like that? You should have an LLC for lots and lots of reasons. I’ll talk a lot about LLCs and other corporate type things in this podcast. But, um, there, there is one huge reason you should have an llc, a financial reason. And when I learned it, it made me feel so boneheaded for not getting an LLC sooner. And it comes from this book. It’s a very famous book, very, probably the most, probably the most famous personal finance book ever written. It’s called Rich Dad Poor Dad, rich Dad Poor Dad by Robert Kiyosaki. I can’t recommend this book enough. It’s, it’s so good. It has so many great things in it that are gonna set you on the path to financial freedom, help you make smart choices.
And it’s written in such a plain, simple way. <laugh>, it’s so, it’s just so good. Read that book. But here’s the thing about LLCs that Robert Kiosaki taught me that was just revelatory and it changed the way I saw. And I’ll never live without llc. I have three currently, by the way, we all films is one, and I have other ones, but don’t worry about that right now. Here’s the big, big, big truth and the biggest reason I think you should go get an LLC today, because think of it like this. If you work a day job for instance, or you’re a sole proprietor, you do your job, you work a certain amount, you get a certain amount of money, okay? You get that money and out of that money you take taxes, payroll, taxes, FICA taxes, social security, all that stuff comes out of the top line.
The gross, the amount, the whole amount that you made. You pay taxes on that. And then you live on what’s left. You live on the scraps. You live on what the, you don’t give away to the government. With an llc, you make the same money, right? So it’s for your business or whatever your, your jobs you’re doing. You pay for the overhead and for the expenses of your business. So I talked an overhead about overhead in a previous episode, but all the things you have, so supplies, gas, money, you could be your cell phone bill. If you have a studio, the expenses that go in, all that stuff comes out of that money first. And then at the end of the year, you pay taxes on what’s left in the bank. You pay taxes last. So in your day job, and if you have a sole proprietorship, you pay taxes first with an llc, you pay taxes last on what’s left over. Now think about that. How much money have you been giving away because you were scared to file an llc?
They’re simple to do. They’re not as scary as you might think once you get them. I know it can be intimidating and you have to have an accountant and you feel like, yes, you need an accountant. That’s a whole other podcast. But yes, you do need an accountant. Get an LLC today. I promise you will not regret it, and you’ll feel so you’ll wish you had done it sooner, okay? Save all that money. Don’t give it away. You’ve earned that money. Pay your taxes legally. But an LLC helps you reduce that tax burden. That loan is a reason you should go out and get one right away. All right? You can do it. Don’t be scared. I love you.