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by joshstrange 1054 days ago
This a pretty neat and if I ever go past a sole proprietor LLC it's something I would be very interested in.

Currently I just have a YNAB budget (personal and business co-mingled) and that does a decent job of tracking what I need. Initially I tracked my business in a separate YNAB budget but that was a pain to manage and since for tax reasons it doesn't matter I just shoved it all together. I maintain a spreadsheet with my business income/expenses so that come tax time I can do my deductions easily which this tool might help with but unless I want to separate my finances (I don't right now) it's not worth the double-input.
2 comments
piotrsynowiec 1054 days ago
Thank you for your comment, Josh!

Sure thing. Happy to hear that YNAB works for you!

I want to focus on people starting to get traction with their freelance/business but still need the tools. I saw how easily it is to get lost in finances when you have a few projects at once, so I used design and development to create something that people would actually want to get into every week to update their data.

That's the hope, at least. Thank you for your time checking out the landing page! I appreciate your feedback :)

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singleshot_ 1054 days ago
A sole proprietorship is the simplest business form. It’s just you, doing your thing.

But an LLC is very different. It is an entity separate from you that can have its own income and protects you, the member of the LLC, from some liability.

There is no sole proprietor LLC. There can be a single member LLC, and such an LLC, for tax purposes, can be invisible if you choose. This is called a disregarded entity. For the purposes of taxation, gains and losses essentially flow through to your personal return as if the LLC didn’t exist. But you still have some liability protection if you act properly.

If you think what you have is a sole proprietor LLC, it is very likely that what you actually have is a single member disregarded entity LLC.

(None of which matters a lick but some people like to know the fancy words. If that ain’t you, feel free to ignore!)

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joshstrange 1054 days ago
I knew it sounded (felt?) weird as I typed it, I meant single member LLC. Thank you!
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