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Financial Planning for Solopreneurs, with Hunter Boyd, Founder of Solopreneur Financial

money + taxes Apr 14, 2022

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“Putting your children on the payroll when it’s appropriate is one of the greatest business hacks I recommend to my parent entrepreneur clients. It’s a great way to teach your child responsibilities, you save on taxes, and you set them up for future financial opportunities when they’re old enough to make financial decisions."

In this episode, we had the pleasure of hosting Hunter Boyd, Founder of Solopreneur Financial, to talk about specific tax and investment strategies for small business owners with families.

Hunter shares his favorite tax strategies geared towards parent entrepreneurs and he gives advice on how you can save on taxes as a business owner and parent. Plus, learn about the benefits of putting your kids on the payroll, find when they’re eligible, and learn how to best utilize them in your business!

Hunter also shares his tips related to cash flow and introduces us to his “hill and valley” system. This system is a great strategy to implement when you have a variable monthly income and it can help protect you from those unexpected expenses and slow-moving months.

This episode is for you if:

  • You’re a solopreneur who is handling your own finances and you need guidance on how to plan your budget and disperse your income appropriately.
  • You’re feeling overwhelmed with having a variable income and you need strategies that help you plan for the ebbs and flows that come with operating a business.
  • You are curious about how you can add your child to your payroll and need to know when it’s deemed appropriate and how it impacts your tax responsibilities.
  • You’re interested in learning the benefits of tax planning and want to hear the long-term benefits of implementing it now rather than later.

About Our Guest

Hunter Boyd, Founder of Solopreneur Financial, is a virtual financial advisor for solopreneurs. He noticed most financial planners were missing the boat when it came to solopreneurs and self-employed business owners so he started his own business to fill that void.

He and his team guide clients through a financial planning experience that covers investing, taxes, cash flow, exit planning, and so much more. Through this planning experience, they are helping their clients live their bucket-list life.

Links Mentioned + Other Helpful Resources

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