The Fitness Business Podcast with Erin Dimond and Jordan Dugger 127. The MONEY Episode| with Fitness Business CFO Shawn Hanquist
This may be the episode you NEED to listen to but may not necessarily want to. It can be incredibly overwhelming and frankly scary to look at your bank account and financial statements, especially at this uncertain time. We want to educate you and give you solutions to these specific issues and that's why we have Shawn Hanquist, AKA the Fit CFO. Today, you'll learn how to structure your company from a tax and legal perspective, what is available for you loan-wise at this time, and industry standards of financial practice specifically for online fitness coaches.
Time Stamps:
(0:48) Shawn’s Service
(3:10) Cash Reserve
(5:28) Types of Insurance
(7:56) Types of Businesses (LLC, S-CORP, etc)
(14:49) Profit First Strategy
(20:22) Profit Margins
(21:36) Industry Standards
(24:31) Stimulus Package
(26:10) Figuring Out Taxes Early
(33:20) Tax Rightoffs
(37:50) PPP - Small Business Loan
(40:40) Forgivable Loans and the Unknown
(44:12) Economic Injury Disaster Loan
(45:55) Where to Find Shawn
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Financial Black book- https://freefinancialblackbook.com/
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