Starting a copywriting business is exciting, but navigating the financial and legal aspects can feel overwhelming. From choosing the proper business structure to understanding tax obligations, there’s a lot to consider.
In this episode, Andrew Nicholls, an experienced finance expert and business advisor, breaks it all down in a way that’s easy to understand.
Whether you’re just starting out or already running your copywriting business, this episode will help you make informed financial decisions and avoid common pitfalls. Andrew shares insights on when to register for GST, how to structure your business for success, what insurances you need and what deductions you can claim.
This episode is a goldmine of practical advice for copywriters and small business owners looking to take control of their finances and set up their businesses for success. Whether you're just getting started or thinking about growing, Andrew’s insights will help you navigate the complexities of business finance with confidence.
You’ll learn:
- The different business structures available to copywriters (sole trader vs. company vs. trust)
- Why you need an ABN and how to get one
- What to do if you're freelancing on the side while working full-time
- When you need to start charging GST and what that means for your business
- The reporting obligations of a GST-registered business
- When it makes sense to transition from a sole trader to a company
- The key differences between a bookkeeper and an accountant (and when you need one)
- What business expenses you can and can’t claim as a copywriter
- The types of business insurance you need (and which ones you can skip)
- Common rookie accounting mistakes that get small business owners into trouble with the ATO
- When to start using accounting software like Xero and how it can help manage your finances
Read the show notes
This podcast is brought to you by the Australian Writers' Centre. WritersCentre.com.au
Join our community of copywriters at CopyClub.com.au.
See omnystudio.com/listener for privacy information.
