First Gen Wealth Education
Business Structures Explained for New Entrepreneurs
by Eric James
Your structure decides how you get paid, how you're taxed, and where legal responsibility can fall. This guide breaks down each option with real examples, and the difference between your legal structure and your tax classification, so you can choose correctly from day one.
1099 Reporting Business Deductions
by Eric James
Nobody teaches new business owners that a tax deduction and a 1099 filing are two separate requirements. This guide breaks down what Form W-9 does, which form applies to which payment, and why your records, not the filing itself, are what actually support your deduction.
The Financial Habits That Support Your Business Deductions
by Eric James
Nobody teaches new entrepreneurs how the IRS actually reviews returns or what makes a deduction hold up. This guide breaks down how returns get selected for review, what your books actually need to show, and when it's time to upgrade from a simple tracker to real accounting software.
Schedule C vs Schedule E Explained for Entrepreneurs
by Eric James
Nobody teaches new entrepreneurs where their income belongs. This guide breaks down Schedule C versus Schedule E, when rental income changes character, and why the form you file and the passive loss rules are two different questions.
Health Savings Accounts Explained for Entrepreneurs
by Eric James
Nobody explained healthcare money systems to most of us before we needed them. This guide breaks down how an HSA works for entrepreneurs, who can actually contribute, what the account covers, and how to use it so a medical bill never has to disrupt the business you're building.
5 Audit Triggers Every New Entrepreneur Should Understand
by Eric James
Nobody taught most of us how the IRS reviews returns, so we learn by guessing. These five audit red flags show you what creates questions, what the IRS actually looks for, and how to build records that protect the business you're building.
529 Plans: What First Generation Entrepreneurs Need to Know
by Eric James
529 Plans aren’t just college funds anymore. They’re career savings tools built to give our children the options we never had. Here’s a simple breakdown every first generation entrepreneur should know.