Starting a Business
Build your business on a financially sound foundation
Starting a business is one of the most exciting and nerve-wracking financial decisions you can make. The entrepreneurial leap comes with real financial risk — but also the potential for rewards that no W-2 job can match. The difference between businesses that thrive and those that fail often comes down to financial fundamentals: runway, pricing, structure, and cash flow.
One of the earliest decisions you'll face is how to structure your business. The choice between a sole proprietorship, LLC, S-Corp, or C-Corp affects your taxes, liability, and ability to raise capital. Getting this right from the start avoids expensive restructuring later. And understanding self-employment taxes — the full 15.3% of net income that solo business owners pay — helps you price your services appropriately from day one.
The calculators below address the most critical financial questions every new business owner faces. Whether you're just writing your business plan or already generating revenue, these tools help you make smarter decisions with clearer numbers.
Your Financial Checklist for Starting a Business
Choose the right business structure
LLC or S-Corp? The choice affects taxes, liability, and paperwork. Model both before you file.
Calculate your startup runway
Know exactly how many months you can operate before you need to be profitable or raise money.
Understand your self-employment tax burden
Self-employed people pay both halves of Social Security and Medicare. Know what's coming.
Set your freelance or consulting rate
Price your services to cover all costs, taxes, and the income you actually want to earn.
Model business loan scenarios
If you need startup capital, understand the true cost of different loan structures before borrowing.
Track and optimize your profit margins
Know your gross and net margins from the start to identify where the business makes — and loses — money.
Calculators for This Life Event
Each tool is free, instant, and built for exactly where you are right now.
LLC vs S-Corp Calculator
Compare the tax implications of LLC vs S-Corp structure to choose the most tax-efficient option.
Use Calculator →Startup Runway Calculator
Calculate how many months your current capital will last before you must reach profitability.
Use Calculator →Self-Employment Tax Calculator
Calculate the 15.3% SE tax on top of income tax that every self-employed person owes.
Use Calculator →Freelance Rate Calculator
Calculate the hourly or project rate you need to charge to meet your income goals after taxes.
Use Calculator →Business Loan Calculator
Model monthly payments and total cost for different loan amounts and terms.
Use Calculator →Profit Margin Calculator
Track gross and net profit margins to understand the true profitability of your business.
Use Calculator →Common Financial Mistakes to Avoid
- ⚠Not separating personal and business finances from day one — this creates tax nightmares and liability exposure.
- ⚠Underpricing services by forgetting to account for self-employment tax, health insurance, and unpaid time.
- ⚠Not setting aside 25-30% of every payment for taxes — self-employed people pay quarterly estimated taxes.
- ⚠Running out of runway before reaching profitability — always know your monthly burn rate and how many months you have.
- ⚠Choosing S-Corp status before revenue justifies it — the additional compliance costs don't pay off until you're earning $50,000+ in profit.
Frequently Asked Questions
Should I form an LLC or an S-Corp?▼
How much should I save for taxes as a self-employed person?▼
How long should my business runway be?▼
Do I need a business bank account?▼
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