Starting an online coaching business, need advice!
I have decided to start a little business that provides people with individual fitness/ sports training programs and motivation online/ over the phone. The basic premise is that it is a cheaper alternative to hiring an in person personal trainer (at $45/ wk rather than $180-$300/wk) for people who have trouble staying motivated and/ or need guidance as to how to reach fitness/ performance goals. It will be 100% remote and I plan to take up to about 25 clients. I am already looking into forming an LLC and I have a lawyer to do up all the liability and assumption of risk stuff.
Here are my questions:
What do I need to consider if I form my LLC in Pennsylvania but take clients from other states or ever other countries?
How do I organize myself for taxes? Do I open a separate bank account for the LLC and “pay mayself” out of there (and somehow have taxes take out of my “paycheck” to myself? How do I set that up????
If I have clients from other countries, does this complicate the tax situation?
"But I don't think of you"..... Howard Roark
Study together. Pass together.
Join the world's largest online community of CFA, CAIA and FRM candidates.