No tax advantage in your own company

Steve Pruneau

One of the most common justifications we get from independent consultants and solopreneurs for creating and maintaining their own company are the tax advantages of being able to deduct business expenses.

As the boss of your own business unit in Free Agent Source, you get the tax advantage of deducting normal business expenses here too:

BUSINESS EXPENSE FAS REIMBURSEMENT POLICY
Mobile phone and monthly bill? yes
iPad and mobile data plan? yep
LinkedIn premium, DropBox, YouSendIt and other software subscriptions? definitely
Computer and Software? sure
Meal expenses for breakfast, lunch, dinner, coffee with clients? affirmative
Travel expenses to client meetings, trade shows and training? go
Mileage reimbursement or maintenance for car used on business? can do
Trade show registration fees? do it
Professional association membership dues and events? gotta network
Business books and publications? get smart
Professional training courses and certification expenses? get smarter

Every tax break that you can get through your own company, you can have in your own business unit within Free Agent Source. So what’s the advantage of operating as your own business unit within Free Agent Source instead of operating through your own business?

  • East to start, easy to exit.
  • No need to register your business. Just start.
  • No cost to exit your business, because there’s no entity to close.
  • No need to open a company bank account or pay monthly banking fees.
  • No need to create a tax ID and register with IRS and state tax authorities.
  • No need to renew general liability and professional liability insurance each year.
  • No need to create and maintain your own 401k plan.
  • No payroll processing. No cost for payroll software.
  • No cost for invoicing. No time spent on invoicing.
  • No cost for book keeping. No time spent on book keeping.
  • No meetings with accountants for company tax filing for your business.

Steve Pruneau leads executives and business owners to solve the gap between variable revenue and a fixed workforce. He is the first consultant at Free Agent Source. As a founder, Steve engages the broader community of corporate clients, entrepreneurs, startups and consultants. He manages company operations and lives in Los Angeles, CA.