Set Up Your Finances Like a Pro

A Guide for Creators, Freelancers & Small Business Owners

When you’re building a business around your passion—whether you’re a YouTuber, designer, photographer, or consultant—how you manage your finances can make or break your success. Proper financial setup isn’t just about staying organized; it’s about setting yourself up to grow, stay compliant with tax laws, and avoid expensive mistakes.

At Velin & Associates, Inc., we help creative professionals and entrepreneurs take the stress out of finances so they can focus on what they do best.

1. Separate Your Business and Personal Finances

The first step to professionalizing your finances is separating your personal and business accounts. This means:

• Opening a dedicated business checking account.
• Using a separate credit card for business expenses.
• Keeping detailed records of business income and purchases.

This separation not only makes tax time easier but also protects your personal assets and helps you stay audit-ready.

2. Set Up a Smart System with Expert Support

One of the biggest financial pitfalls for freelancers and creatives is inconsistent tracking of income and expenses. At Velin & Associates, Inc., we go beyond basic bookkeeping. We help clients implement custom financial systems that match their business type, income flow, and industry-specific needs.

Whether you’re a solo content creator or run a small team, we’ll help you organize your finances in a way that saves time, reduces stress, and ensures you never miss a deduction or deadline.

3. Track Every Deductible Expense

Los Angeles creatives are often eligible for valuable deductions, including:

• Home office expenses
• Equipment and software
• Internet and phone bills
• Travel related to client work
• Subcontractor payments
• Education and industry subscriptions

When you track these properly throughout the year, you reduce your taxable income—and your overall tax bill.

4. Pay Estimated Taxes on Time

Freelancers and sole proprietors are responsible for paying taxes quarterly. Miss a payment, and you could owe penalties.

We’ll help you calculate your estimated taxes accurately and on time so you’re not caught off guard in April.

5. Work With a Pro (Like Us)

Even the most organized business owners can miss opportunities when they go it alone. A knowledgeable CPA in Los Angeles can help you:

• Identify deductions you’re missing
• Stay compliant with tax laws
• Plan for growth and cash flow
• Avoid IRS red flags and penalties

At Velin & Associates, Inc., we offer customized accounting services in Los Angeles for creatives, freelancers, and small business owners—so you can stay focused on your work, not your spreadsheets.

Ready to get your finances in order?

Let’s make your money work for you. Call us today to schedule a consultation.

📞 323-902-1000
🌐 www.losangelescpa.org
✉️ dmitriy@losangelescpa.org