
Episode #127
127: Do You Need an LLC for Your TPT Business? LLCs, Taxes & Business Basics Made Simple
Do you actually need an LLC for your Teachers Pay Teachers (TPT) business? And what’s the difference between being a sole proprietor, having an LLC, and becoming an S-Corp? In this episode, Lindsay is joined by her husband Parker, a former corporate accountant and current CFO of their company, to answer common questions about the business side of selling on TPT. They break down LLCs, business bank accounts, EINs, taxes, S-Corps, and more in simple terms. Key Discussion Points: [00:01:15] LLCs vs. Sole Proprietorships What an LLC actually does, what it doesn't do for your taxes, and how it differs from operating as a sole proprietor. [00:05:00] Separating Your Business Finances Why having a separate bank account for your TPT income and expenses can make bookkeeping and tax time much easier, even if you aren't ready for an LLC. [00:09:00] When Should You Form an LLC? What to consider when deciding whether you're ready for an LLC, including state fees, your business income, and where you are in your business journey. [00:14:00] Setting Up Your LLC, EIN & Business Bank Account The basic order for setting up your business, including a business address, LLC, EIN, and business bank account. [00:21:00] Business Addresses & Registered Agents What a registered agent is, why your address matters when forming an LLC, and what information may become public. [00:26:00] When an S-Corp Might Make Sense How an S-Corp differs from an LLC, when it may be worth discussing with a CPA, and what changes when you begin paying yourself through payroll. [00:31:00] Hiring Family & Planning for the Future Lindsay and Parker discuss hiring family members, payroll, retirement accounts, and why these more advanced business decisions are worth discussing with a CPA. This episode is for educational purposes only and is not legal, tax, or financial advice. Always consult with a qualified professional about your specific situation. lindsaybowden.com/training Connect further: Join the 1k TPT Challenge: https://lindsaybowden.com/challenge Sell Education Workbooks with Amazon KDP: https://lindsaybowden.com/KDP Earn 3-4 figures per month on TPT | https://lindsaybowden.com/start Start or grow your TPT email list | https://lindsaybowden.com/email And make sure to follow me! https://www.tiktok.com/@lindsay.bowden and http://instagram.com/lindsaybowden Watch full episodes on Youtube + Subscribe: https://www.youtube.com/@Lindsay.Bowden?sub_confirmation=1 Resources mentioned may contain affiliate links. If you purchase through these links, I may earn a small commission at no additional cost to you. I only recommend products and resources I truly love and use myself.

