Sole Proprietor and Schedule C — The Starting Line

What Is an S-Corp? (It's Not What You Think)

The S-corp is the most requested topic Lauren gets — and the most misunderstood. In this episode, she clears up the biggest misconception first: you don't form an S-corp. You elect it. It's a federal tax classification, not a business entity. Lauren explains how the election works mechanically, what changes on the tax side, and then walks through the break-even math that tells you whether it actually saves money for your specific business — because the answer isn't always yes.

Social Media Tax Myths — What the IRS Actually Thinks

Six of the most viral tax strategies on the internet — run through the actual rules. In this episode, Lauren covers the heavy vehicle deduction, the Augusta Rule, hiring your kids, business meals, the Delaware LLC strategy, and buy-borrow-die. Some of these are based on real provisions. The viral version just leaves out the qualification requirements, the documentation standards, and what happens when the IRS disagrees. Lauren gives you the full picture so you can separate legitimate planning from expensive guesswork.

LLC Compliance — What Owners Forget (And What It Costs Them)

Forming an LLC gets you the legal structure. Maintaining it keeps the protection intact. In this episode, Lauren covers the compliance requirements that most LLC owners either forget about or never knew existed — operating agreements, state filings, financial separation, and how to document owner's draws correctly. She also explains what "piercing the corporate veil" actually means in practice and the specific behaviors that invite it. The entity is only as strong as the discipline behind it.

When to Move Beyond Sole Proprietor (And the LLC Reality Check)

There's a popular claim that once you hit $50K in revenue, you need an LLC or an S-corp. The IRS has no such rule. In this episode, Lauren covers the actual signals that tell you a sole proprietorship isn't serving you anymore — and then gets into what a single-member LLC really does. Spoiler: your federal taxes don't change. A single-member LLC is a liability decision, not a tax decision. Lauren explains what the LLC actually protects you from, what it doesn't, and why the filing fee is the easy part.

Sole Proprietor and Schedule C — The Starting Line

If you're a sole proprietor, your entire tax life lives on one form: Schedule C. In this episode, Lauren walks through how Schedule C actually works — income reporting, cost of goods sold, deductible expenses, and the specific areas where IRS examiners find problems. She also covers the number that surprises almost every new business owner: self-employment tax. What it is, how it's calculated, and why not planning for it is the most common reason sole proprietors end up with a tax bill they didn't see coming.