Discover how to streamline your financial operations as an independent landman with practical tips from CPA Josh Mullins. From establishing the right business entity to the best practices in bookkeeping, this episode is packed with invaluable advice!
Time Stamps
- 00:48 - Episode & Guest Intro
- 01:57 -Understanding Contractor vs. Employee
- 08:17 -Navigating Business Entities for Landmen
- 13:59 - Tax Benefits and Payroll Considerations
- 18:22 - Practical Business Expense Management
- 25:14 - Bookkeeping Best Practices
- 27:59 - Understanding Business Expenses
- 29:29 - The Importance of Good Accounting
- 31:12 - Navigating Tax Obligations
- 36:46 - Building a Strong Advisory Team
- 40:33 -Managing Money and Building Networks
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Snippets from the Episode
- "Keep your expenses and your income separate for business purposes. Open you up a business bank account and your revenue gets deposited into that bank account." -Josh Mullins
- "If you're going to do this work as an independent contractor for years to come, get it set up right from the beginning.' - Brent Broussard
- "As an independent, you're a business owner. Everyone who steps into that role has to understand they're assuming a whole new level of responsibility when it comes to their financial management because there's not anybody doing it for you anymore." -Josh Mullins
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