Own It!

Module 4: Affording Your Ingredients

Module 4 is designed to understand some business-related monetary concerns before the business actually starts - equivalent to making sure you can pay for your ingredients before you go to the store.

Paying Yourself vs. Paying the Man (I.1(B))

This submodule is meant to help explain the basic tax differences between different types of businesses. It considers both a tax treatment type and different tax considerations based on your type of business.

The IRS Knows You Better than You Know You (I.2(a))

An accountant is one of the most essential professionals a small business uses. This submodule helps explain the difference between a CPA, accountant, and bookkeeper before helping understand how to find the best match for your business.

The Keeper of the Money Pantry (I.2(d))

Learn what to look for in a bank where you can do more than just have accounts, but also work with as a team member in growing your business. This submodule discusses the difference between banks and credit unions, as well as some key features.

Talking Taxes (I.4(A))

If you are not in Colorado, this module will be less helpful, as it is pretty state-specific. This submodule walks you through getting a federal employer identification number and state sales tax license.

The Money Pantry (I.4(B))

This submodule raises some considerations a business should consider before opening a business banking account, including accounts and features that may be helpful for a business.