In this podcast episode, Michele Hansen) (Geocodio)) gives us an update on Section 174 and provides her take on "bootstrapping with kids."
Michele explains you can be a part of the Small Software Business Alliance), and fight Section 174. If you're in the USA, please contact Congress)!
In the second half of the episode, Justin and Michele talk about the challenges of balancing starting a business while you have young kids. For more on this topic, check out the last episode with Aaron Francis).
For more context on Section 174, check out our previous episode with Michele).
(00:12) - Welcome
(01:44) - Quick refresher on section 174
(05:42) - Updates since last episode
(09:09) - You can still help raise awareness
(14:03) - What's happening next?
(17:35) - How does this work on the accounting side?
(20:24) - Anything else people can do?
(22:41) - What advice do you give to people with families wanting to start a business?
(26:44) - Did you try a few things on the side?
(29:04) - Definition of success at the start
(31:20) - Developing a business while raising a baby
(35:13) - Survivorship bias in stories from new parents
(37:52) - What should you consider when starting a business?
(45:39) - Avoid magical thinking
(51:44) - Some things are hard to think about until you experience them
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