Business Building Basics with Money Manager Mom, who Used to Manage 300 million

Join Chelsea Rizzo and Samia Pedalino in this Abundant Academy coaching call to learn practical steps for moms to start a business, set up an LLC, optimize taxes, and create digital downloads.

https://training.abundant-academy.com/front-door/abundant-money/

Discover expert tips on budgeting, investing, and building a family-first business with faith-centered advice. Subscribe for more entrepreneurial strategies!

Chapters

00:29:12 - Introduction and Welcome
Chelsea Rizzo kicks off the coaching call, greeting participants and setting the stage for the session.

00:30:02 - Importance of Recording Coaching Content
Chelsea emphasizes the value of recording coaching sessions for content creation and better engagement.

00:31:22 - Overview of Abundant Academy
Chelsea explains the mission of Abundant Academy, focusing on empowering moms to build businesses while prioritizing family, with details on weekly calls and programs.

00:32:37 - Abundant Money Program and Courses
Introduction to the Abundant Money program, including courses like AI Mom, Mom Business Blueprint, Viral Playbook, and Samia’s Generational Wealth course.

00:36:24 - Business Fundamentals and LLC Formation
Samia Pedalino discusses the essentials of starting a business, including forming an LLC, choosing a unique name, and selecting a registered agent.

00:43:54 - EIN, Operating Agreements, and Bank Accounts
Samia explains how to obtain an EIN, create an operating agreement, and set up a business bank account, emphasizing legal compliance.

00:45:48 - Sales Tax for Digital Downloads
Samia covers sales tax requirements for digital products, recommending tools like Avalara to automate tax compliance across states.

00:51:12 - Tracking Business Expenses with QuickBooks
Samia advises using QuickBooks for tracking income and expenses, highlighting its ease and automation features for business owners.

00:54:25 - Tax Write-Offs for Content Creators
Discussion on legitimate tax write-offs, including home office space, outfits, and car usage, with tips for maximizing deductions.

00:58:08 - Incorporating Kids in Your Business
Samia explains how to pay children for contributing to your business, using custodial accounts to reduce taxable income.

01:06:05 - Advanced Tax Strategies (Section 179)
Samia introduces Section 179 for vehicle write-offs and other strategies to minimize taxes, referencing real estate and business-friendly CPAs.

01:17:14 - Budgeting for Digital Business Ad Spend
Samia discusses realistic budgeting for Meta ads, emphasizing testing with organic audiences before scaling ad spend for a strong return on investment (ROAS).

01:24:43 - Leveraging Abundant Academy for Organic Traffic
Chelsea and Samia explain how hosting products on Abundant Academy boosts SEO and organic traffic through their ad spend and promotion.

01:26:29 - Startup Grants and S Corp Benefits
Samia addresses questions about startup grants and the tax advantages of operating as an S Corp within an LLC structure.

01:32:25 - Upcoming Canva Code Tutorial
Chelsea announces a future session on building websites with Canva, offering done-for-you services for Abundant Money subscribers.

01:34:08 - Community Engagement and Closing
Chelsea encourages community participation, sharing content, and collaboration, wrapping up with gratitude and next steps.

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