10 Things to Know Before Being Self-Employed (Tax Tips, LLC, S-Corp, Payroll, Benefits, Bookeeping)

[@kathya9522]

Having been self-employed at one time, I can honestly say all your points are spot on. I’m so happy you do these occasionally. The variety in your content is very refreshing.

[@meganvenegas7632]

Hi Michel! I don't have a business, but I found this informative. You're really good at making business stuff make sense to the average person! Take care

[@MichelJanse]

Wow Megan!! Thank you so much I am so glad!!🤍🥰

[@MyFreckledJourney]

Okay - this is seriously one of the best videos! I would watch many more videos in regards to this: how to figure out what professionals to trust, things that you’ve learned and wished you’d known sooner, how to figure out what you need to know (because you don’t know until you know) how you manage the type of self employed business you do have and creating a business, how to use Quickbooks etc etc etc!!! Love this video, thank you :)

[@ashleybergstrom8934]

I am retired, but I found this video so enlightening! I have SO much respect for you. Lots of wisdom here. Thanks for the information!

[@createconsiderconnect3356]

Super helpful & interesting! Thanks for taking the time to put all the tips with specific details & examples together. Appreciate your openness & candor.

[@MichelJanse]

Thank you friend!!🤍🥰

[@ck7506]

I would also recommend -setting up a well designed website - get help with SEO in the beginning, so people actually find your business online -set aside a budget every year for education or coaching to improve your skills or work on your mindset

[@MichelJanse]

Great tips friend thank you for sharing!!🫶🏼🎉🤍

[@thehealingfairee]

I'm so grateful you make videos like this! I love learning about finances and running a business

[@MichelJanse]

Yay!!🎉🥰🤍

[@suishouyuki]

I don't comment often, but I had to stop to say thank you for this! It's super helpful. I'm weirdly a mix of the "struggles to be motivated without someone telling me what to do" and the "take a break; what do you mean take a break" types. I think the lack of motivation, I'm realizing, comes from fear, which leads to procrastination, and because I have no exterior "boss," it's a lot easier for me to just push a deadline farther into the future than to do the hard thing and face that insecurity, and then when I do actually get work done, I don't stop until I'm burned out (and then the work returns to crickets chirping). Setting up my individual days for success (with breaks!) is highly important, as is actually knowing what I want. For a long time I just tried to copy others' models but my heart wasn't in it. Now I'm trying to face the insecurity and do it the right way--which is the way they did it all along: stumbling through one step at a time. Just the other day, I realized I've spent so long beating myself up for not being where I want to be in my business and in my life journey, but I actually have done a lot of brave things and walked through difficulties and survived, and I actually did try, and so I need to give grace to my past self, not hate and shame. Thanks again for sharing. You challenge and inspire me. And congrats on your engagement!! :D

[@kimberlyduong2917]

Informative video that provides the major points you need to know about being self-employed (and I'm a bookkeeper for solopreneurs!). Just a couple notes: 1. Creating an LLC does not automatically give you an EIN. It is a separate process, but it is free to create an EIN. 2. When you file to be taxed as an s-corp, you will already need to have an LLC in place, and you will need to pay yourself a "reasonable" salary (your accountant can advise you on what is reasonable).

[@nenamoreno]

Thank you so much Michel, such a helpful video. Would love to see how you organize your Asana, just started using it myself thanks to your video ♥

[@nicholasbrown3443]

Prob one of the best seld emp videos ive seen. This was really well dond

[@KelsiBlaser]

Thank you so much Michel!! I'm trying to take this leap right now and it can be pretty overwhelming. I appreciate all of the hard work, trial and error, and dedication it took to be able to make this video and have the knowledge to back it up.

[@emilycombest7814]

Love these types of videos! It's been a while. Thanks for this!

[@MichelJanse]

Of course Emily!! 🥰🤍Thank you for watching 🫶🏼🫶🏼

[@nataliegjatzlau]

Thank you for sharing this info and not gatekeeping, sooo helpful!

[@kelleyfarley1955]

I love that your channel is continuing to grow quickly!!💕💕

[@MichelJanse]

Awe thank you Kelley!!! 🤍🥰 I wouldn’t be here without you!! 🫶🏼

[@tinawho]

I was your 1000th thumbs up!! Way too excited about that hahah. But I really love this video - thank you for breaking everything down in simple terms.

[@TransparencyBodycam]

Would you make a video of how much money KZbin paid you, and how you built your KZbin channel?

[@alisamunoz1383]

This is a God sent I am starting a business soon and I was getting so confused with what all I needed to know. ❤

[@MichelJanse]

Yay!! I’m so glad this helped 🥰🤍🫶🏼🎉

[@isabellalacy9901]

Ahh Michel! I love this so much and I’m so obsessed with your content!! I love how fun and bubbly you are! Ilysm and I hope you’re having an amazing day! I’m so excited to see the engagement content 💕

[@MichelJanse]

Hehehe 🥰🤍I’m excited for it!! Thank you for being here Isabella!! 🤍

[@isabellalacy9901]

@@MichelJanse of course!

[@edwardleecaliforniausa]

Morning Michel happy Tuesday morning and I loved your vlogs and you are amazing Supporter and I'm proud of you

[@LindaKayHolevas]

This was a really thought out and well made video, Michel. I am also self-employed & have learned a lot of these lessons the more difficult way, lol. I think it takes people who are newly self- employed a good 2-3 years to figure out all the rules regarding taxes, etc. I think your advice of hiring a CPA is awesome, at least with getting your business set up in the beginning. 😊 xo

[@samanthasnow309]

This video was so helpful! I just started my own law firm and the admin side of things has been the hardest part.

[@latmcb9863]

Terrific video!! I really like that you gave a disclaimer up front and then encouraged people to seek out professional help. I am a professional in one of the areas you mentioned and I can't tell you how many times I have cringed at the advice that a well-intentioned youtuber has given. Regarding health insurance, I believe some states do have PPO plans for individuals, so it might be worth checking out if you eventually move back to CA. (Just a thought - I am not a health insurance expert...)

[@mooremindfulmoments6599]

Thank you for sharing real money amounts. So many people are hush hush about money especially when it comes to finances surrounding social media but it’s kinda cool to learn about KZbin from a business perspective

[@ValthatBish]

Ohhhh bad word... ❤❤❤ love it!! Take that break girly!!

[@mchoidir43]

Very useful advice indeed, it has changed my life a bit

[@erikaaaaaaaaaaaaaaa]

This is a great video and tips! One thing I will tag on since I work in the finance industry- when you hire a financial planner please make sure they are what is called a "fiduciary." This means that they are obligated to give you advice based on what is best for you, not earning a commission for them. Sometimes low-cost or free planners are really making commissions off you- which can be fine IF its part of a game plan that was developed with your best interests in mind.

[@yadi5808]

So happy your choice to be a content creator your a blessing!

[@MichelJanse]

Awe thank you friend!! 🤍🤍

[@yadi5808]

@@MichelJanse ❤❤❤

[@sandynorris1250]

You are a great teacher!

[@mnmspecial]

Great video. I'm starting my 3rd business and I have never thought about the tax benefits of filing as an S-corp. I'll be calling my cpa and having a chat sooner than later. Thanks!

[@harolynmunford1853]

Loved this video!!!!!! I have had my floral business for a year now and you have given me so much information about how to stream line some things. So appreciative for this, truly I'm very grateful. Also congrats on your new engagement 😊.

[@libbymorehouse4466]

Knowing this was filmed in advance when you call Jordy your boy friend. Also love how informative yet accessible you made this!

[@elizabethalexander2191]

An alternative to health insurance plans is a health care cost sharing program. I know a lot of self-employed people utilize and love them.

[@ellie__swan]

my favorite video so far!

[@kaitlynbotha9194]

I love how you are empowering women! Thank you so much ❤

[@KimsaLittleofAlot]

Hi Michel! I enjoy hearing all the financial responsibilities that go with having your own business! Im a small channel. If i ever grow, your advice and knowledge with this will be front and center 😊 I already saved this video :)

[@Andimelodies]

Thank you Michel I love your content it’s so authentic and helpful! Congrats on the engagement 🥰

[@alyssabird720]

This is a perfect video for me right now!! I'm opening my Etsy shop this friday! I'll be selling pressed flower resin jewelry. Wish me luck!😅

[@MichelJanse]

Oh my goodness!!! Good luck Alyssa!! 🤍🤍

[@mariamangion21]

Can we just appreciate the content she makes for us!! You keep us so entertained and your videos never disappoint! You have made such a great impact on my life 🥹 I feel like if I spent a day with Michel, I would immediately be happy for the rest of the week 🤍 Forever a big fan of you!

[@MichelJanse]

Awe Maria!! That is so kind thank you!! Thank you for your continually support friend!! It means so much to me!! 🤍🤍🥹🥰

[@Oh.CeceliaMarie]

Incredibly grateful for this video. So helpful - thank you!

[@jeseniadiaz4762]

Thanks for the information. Basically yo be self employed you have to be rich to start with cause to put away 6 months of emergency funds to cover expenses and the business is a lot.

[@jennyhammond9261]

Video idea prompted from this video: What can you count as a business expense? If you and the fiancé have dinner and you vlog it, does that count as a business expense? Or is that a gray area they were warning you about?

[@MaryAnnQueen]

Ask Kristen and Jamel they might be able to answer that question

[@MaryAnnQueen]

They do a food vlog

[@KWilliams22]

You explain things so so well. Have you thought about putting up short courses on skill share? 😉

[@NikitaUnique]

Michel, you could look into Christian medical sharing plans like Medi-Share. (There are others out there as well.) They are health insurance adjacent, and may fulfill any health insurance requirement by state so that you don’t have to pay a penalty. (There is no longer a federal penalty.) Medi-Share uses a PPO network. Just a thought. ☺️ Edited to add: They call it a “health care sharing ministry”.

[@MichelJanse]

Ooo thank you for this tip friend!!🥰🤍

[@chelseagelber1979]

I was thinking the same thing!!!

[@NikitaUnique]

@@MichelJanse My pleasure! 🥰

[@NikitaUnique]

@@chelseagelber1979 Great minds! ☺️

[@maddiehowell]

Love knowledge sharing!! This is so helpful. Thank you!

[@izzykaii]

Wow theres so much more to it than I thought, makes me appreciate working for a corporation. I know self employment has its benefits too tho

[@jillhenderson341]

Hi, I really appreciate you being open & sharing helpful details & tips regarding managing self employment. I found this interesting, informative, and easy to understand, even though it doesn’t apply to me (yet?)

[@anni6097]

This bold shade of blue suits you so much!

[@MichelJanse]

🥰🤍Thank you friend!!

[@cb1623]

Thank you!

[@emilycombest7814]

I literally took notes! 🤩

[@MichelJanse]

YAYYY🎉🎉

[@ValthatBish]

Me and hubby watching together we are going to start our own electric business!!

[@cpagoals]

We love a financially savvy girlie!! 🤍

[@crissy7312]

Well-done! You work hard. One question I am curious about is what can you charge to your channel… if you do a special event for a friend/family member and use footage from the event - can any of that be a business cost?!

[@AlyssaRodriguez]

This video was so good!! Thank you so much 🥰

[@jillianperrin3377]

I'm not self employed, will never be self employed, but this was a really enjoyable video. ❤️

[@ayvee1796]

thank you so much, this video was so informative!

[@MichelJanse]

Yay I am so glad!!

[@forevermia622]

This is so helpful to know! How much do you match for retirement? Are you expected to match for your employees as well?

[@karengurske]

I believe she stated it’s a 1-1 match meaning she puts in $1,000 as the “employee” and her “employer” also contributes $1,000. None of her employees are full-time, they’re contracted so that does not include benefits.

[@mansoor3159]

Thank you so so much Michel for sharing this video because its truly truly helpful to me in my life you are my inspiration and I will support you till end💫💗😃

[@MichelJanse]

YAY I am so glad it was helpful!!! 🫶🏼🤍

[@spider-mantobeymaguirefanc9469]

@@MichelJanse I love this video I’m huge fan of you ❤️😍🥰💘💖

[@Billy33753]

Thanks for sharing!

[@MichelJanse]

🥰🤍

[@andreas_adventures]

I'm starting my own sewing business soon and this is so helpful. It's literally so hard and complicated to figure this all out! How did you even find a CPA to talk to?

[@MichelJanse]

I asked around with other self employed friends in my state and ended up going with a friend’s recommendation. That was also helpful because we each got a little referral discount! I hope this was helpful Andreas!!🤍🥰

[@iloveparee]

Jordy needs to sing Golden Hour by JVKE to you. Mind blowing!!!

[@kerirees1739]

Also! Michel, if you ever need someone else to take on any quickbooks work let me know☺️ I ran quickbooks for a coffee shop in my area and have lots of invoicing, record keeping, payroll experience ☺️

[@kerirees1739]

As always, thank you for your wonderful content🩵

[@MichelJanse]

Wow thank you friend 🥹🤍🥰🎉

[@dianagregory8084]

Always love your videos❤ However this one is mostly, if not all, for your american subs😊 I’m lucky to live where healthcare is paid for over taxes. We do pay 39% in taxes, and depending on how much you make, the more taxes % you pay. Anyways, love ya and thanks for a great video with advise❤

[@RebeccaABeaudoin]

Some day

[@fdoihgsd]

Do you mind sharing the info of your CPA/financial advisor?

[@marclam2758]

I would stay far away from seed. I know someone who took it and it ruined their gut forever.

[@brechtverfremdung2026]

Omg me too! You don’t want to know how badly it messed up my gut (and my wallet).

[@FarangWithAChang]

You can have any insurance you want if self employed even a PPO. You just pay a crap load of money to do so. It's no different than any unemployed person looking on the exchange.

[@saisha_rae]

I just started a KZbin channel so this is perfect timing! If i ever make money from it haha 😂

[@MichelJanse]

Oh my goodness YAY!! I’m so excited for you friend!!🤍🥰🎉

[@saisha_rae]

@@MichelJanse thank you 🥰

[@theerinkathryn]

Lmao at the simple and beautiful to use thing…that’s literally why I chose my university hahahaha

[@SkySpiral8]

What if, instead of paying your taxes every quarter, you put it in a savings account so it will earn interest for you until taxes are due?

[@GraceTorresPhoto]

Depends on where you live because in some places you are penalized for not paying quarterly

[@kimberlyduong2917]

In the US, if you’re expected to owe at least $1,000 of taxes in a year, you are required to make quarterly estimated tax payments. I highly suggest putting the tax money into a high yield savings account until the taxes come due each quarter.

[@SkySpiral8]

@@kimberlyduong2917 Thanks, I didn’t know that

[@spider-mantobeymaguirefanc9469]

I love you michel❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤

[@MichelJanse]

🫶🏼🫶🏼

[@spider-mantobeymaguirefanc9469]

@@MichelJanse how are you beautiful

[@mrs.n.7314]

❤

[@melwallace6456]

I work with USPS and I can tell you ALL insurance is expensive...especially for a family. I pay 600 a month. I don't think any insurance is cheap so don't feel bad.

[@earthmother8741]

Australian so not relevant but it always blows my mind that America’s don’t get free healthcare. I feel very fortunate to live in Australia everytime I’m reminded of this.

[@maggiekeppeler3290]

Also interview several different professionals before you get into a partnership. Fraud is real.

[@HeyItsMe1224]

…several law degrees? What does this mean?

[@maolor1603]

If you look into any college, they have different law degrees you can go into, family, auto, health etc.

[@samanthaoakley9735]

Thank you for this!! SO HELPFUL🤍

[@MichelJanse]

🎉🎉🤍YAY