Only Business Part Two

Getting good business advice

Let’s face it. Your business comes with some stigma. You may not be comfortable sharing how you make money or how much money you make. Many business advisors and accountants will judge you for the choices you make.

Not here.

I’m excited to see how OnlyFans, Fansly, and other sites have disrupted the adult content industry. My experience comes from how a similar disruption happened in traditional publishing with the advent of digital publishing and the indie publishing movement.

I see similar trends in both industries and created this site to help those serious about building a business and creating wealth.

Before I dive deep into the business issues, let me give you some of my background so that you see that I speak from experience, and this isn’t just some scammy site to sell you some half-baked information.

My name is Joe Solari, and I help content creators manage their businesses. I’ve been doing this since 2016 with a partner to help content creators with strategic and tactical issues of running a business. The bulk of my clients are indie authors earning the mid-six figures up into multi-million dollars a year—all from writing books.

What my partner and I do differently is that we act as your back office, helping you get the business organized and create a good tax strategy. We do payroll and reconcile your books and a bunch of other stuff that companies need to do, but entrepreneurs typically don’t know to do it.

I’m most proud that all of our clients take home more money after working with us than they were before. We are focused on getting cash into your pocket. For us, this stuff is easy.

As you read the following, keep in mind if you’re earning the mid-six figures and above, you can just hire someone like us to do all this for you. I’m confident that we will deliver more savings to your business to cover what we cost plus more profit for you without working harder.

If you’re not there yet but want to do this right, the following will help you optimize your business.

Most creators don’t know what they are doing when it comes to business.

This isn’t a criticism. It’s a concern. There is little in the way of resources for creators on running and growing a business. Sure, there is aspirational stuff.

You can find material from other creators on building or scaling an adult content business but not on how to run it. Most while making more money than they’ve ever seen in their life end up wasting most of it and never building wealth.

There is also no end to marketing and advertising information, but very little on what to do to protect yourself and minimize taxes.

Your peers are in the same boat. You all don’t know what you don’t know.

It’s natural to reach out to your peers. Maybe you’re even in a mastermind with some of the top 1% earners, but making money doesn’t mean you know how to keep it and get it working for you.

After looking at scores of top author businesses and thousands of titles, I’ve learned that most top earners are not as profitable as they could be and the creator doesn’t; have the time or skills to optimize the business.

That’s where I can help.

Your business could be in trouble

Many of the seven-figure businesses I’ve looked at have had terrible returns in the last two years. Expenses are rampant and not being organized to take advantage of tax minimization.

Tax liabilities were mounting because the owner didn’t know how to track expenses against profits and file the proper quarterly returns.

Here are some key things to do if you’re earning over 50,000 a year from content creation. This list is based on residents of the United States.

  1. Set up a company in the state you reside or register a foreign entity if you’re using an out-of-state company for anonymous ownership.
  2. Get an EIN separate from your social security number for the company
  3. Elect to have the business treated as an S Corp by the IRS
  4. Once an S Corp register the business with the state unemployment and payroll tax
  5. Start paying yourself a salary.

By implementing the five steps above, you’ll reduce your tax burden. Protect your identity better and begin to pay yourself on a W-2 to help establish credit.

If you want to learn more, sign up for my email mini-course. I will go in-depth into these five steps and let you know more about the how and why.