Start small business during your undergraduate studies

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Reference no: EM132231847

Zoe Chee is an up-and-coming small business owner that you met during your undergraduate studies. She has dual degrees in Entrepreneurship and Computer Science, but no tax or accounting experience. Up until last year, she was working for a big technology firm as a programmer but decided that wasn’t for her. Zoe’s mother was a diplomat and her father was a world-famous painter, so she spent most of her childhood traveling the world and was primarily in the care of nannies while her parents conducted business with world leaders and important people in the art world. Zoe tells you that sometimes those nannies were great – she remembers many fondly, especially the ones who taught her different languages and customs of country where they were living at the time – but sometimes the nannies were terrible. Maybe they were too strict, too lenient, or just didn’t mesh well with Zoe’s personality. In June of 2017, while lying on her therapist’s couch working out these bad memories, it hit her – there has to be a better way to match nannies (or governesses, for the British!) with children.

Out of this revelation, Global Governess was born. The concept is simple – an online platform to match nannies in locations around the world with the children they will care for, based on age, personality, language, parenting strategies – a total of 39 dimensions of compatibility between child and caregiver. Both the family and the caregivers who sign up for the service answer several questions for a personality test to measure these dimensions. Then, Global Governess conducts background checks on both the family and the caregiver to protect both parties. Nannies and children are then matched on these details and other logistics such as length of care, payment required, and location. She recently found you on LinkedIn and asked your firm to consult with her on tax issues for Global Governess.

Here are some details about the business operations so far, along with some questions from Zoe:

Global Governess is registered as an LLC in the state of Massachusetts. Zoe is the only owner and is unsure how she will file to report her operations for 2018. She also wants to know if there is a better business structure, like an S-Corp or a Partnership.

Reference no: EM132231847

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