Nicole Dieker of The Billfold announced Wednesday that the personal finance site is closing.
She posted the following Q&A:
So… what happened?
I made the mistake that many first-time small-business owners make: quickly setting up an LLC through one of those online legal services instead of discussing everything with a CPA and a lawyer first. (This mistake was compounded by the fact that The Billfold LLC was an offshoot of an existing business rather than a new business.) After beginning the 2018 tax process, realizing what I’d gotten myself into, and having the CPA/lawyer conversation that I should have had a year ago, I evaluated my various options and chose this one.
Wow, I’m sorry.
Yeah, me too.
Are you shutting down, like, today?
No. Billfold posts will continue to run through Wednesday, February 20.
Read more here.
