Sunlight Tax

In this debut episode of 2025, I'm going over some of the new 2025 tax law changes, how they might affect you as an entrepreneur and how you can prepare for these changes. 

Join me today to learn how you can make sure you get a head start on these upcoming tax changes. 

Also mentioned in today's episode: 

• Mileage tracking 1:52

• Secure 2.0 Act and retirement contributions 5:44

• 1099-K changes 9:49

If you enjoyed this episode, please rate, review and share it! 

Links:

FREE LIVE CLASS 

Make Taxes Easier and Stash an Extra $152k in Your Savings: 

https://go.sunlighttax.com/free

Today, I'm talking about the importance of preparing for tax season specifically when it comes to issuing 1099 forms, including when you need to issue one and the deadline. 

Join me in this episode to learn how and when you need to obtain your W9 forms and issuing your 1099's from your contractors. 

Also mentioned in today's episode: 

• 1099 requirements 4:10

• Compiling contractor payments 4:43

• Gathering W9 forms 6:50

• Preparing for 1099 issuance 9:53

If you enjoyed this episode, please rate, review and share it! 

Links:

FREE LIVE CLASS 

Make Taxes Easier and Stash an Extra $152k in Your Savings: 

https://go.sunlighttax.com/free

In today's episode, I'm talking about the importance of understanding the April 15 tax deadline, which serves as a triple deadline for self-employed individuals and giving you some tips on how you can be prepared. 

Join me in this episode to learn how you can avoid financial stress and plan ahead to have the necessary funds for the April 15th deadline.

Also mentioned in today's episode: 

• The triple deadline of April 15 2:05

• The importance of funding your IRA 5:15

• Budgeting for tax payments and IRA funding 7:55

• Practical tips for tax planning 15:18

If you enjoyed this episode, please rate, review and share it! 

Links:

A good online income tax calculator

Episode 30: Estimated Quarterly Taxes: Breaking it Down

Episode 31: Estimated Quarterly Taxes: How to Calculate Your Payments

Today, I'm continuing my series about year-end tax saving tips and talking about charitable contributions and their tax implications for self-employed individuals including strategies for maximizing your charitable contributions. 

Listen to this episode to get all the information you need to maximize your charitable donations and to learn the tax limitations of donating your creative work.  

Also mentioned in today's episode: 

• Itemized deductions vs. standard deductions 2:30

• Strategies for maximizing your charitable contributions 12:44

• Donating creative work and tax implications 15:03

If you enjoyed this episode, please rate, review and share it! 

Links:

Qualified tax exempt organization search

Mutual Aid: All the Tax Info You Need

Today, I'm continuing my series about year-end tax saving tips and giving you some strategies on how you can maximize your tax deductions as an entrepreneur using business expenses. 

Join me in this informative episode to learn how you can prioritize your bookkeeping and accelerate your expenses to make sure you get the most out of your tax deductions this upcoming year. 

Also mentioned in today's episode: 

• The importance of bookkeeping 2:25

• Expense acceleration tips 14:14

• Year end spending recommendations 21:46

If you enjoyed this episode, please rate, review and share it! 

Links:

Free mini-course on the new LLC report

Today, I'm continuing my series about year-end tax tips and discussing why it's so important to contribute to tax-advantaged retirement accounts. I'm diving into the differences between 401k's, traditional and Roth IRAs, as well as the SEP IRA option for self-employed individuals.

Join me in this important episode to learn how you can maximize your tax savings and retirement contributions.

Also mentioned in today's episode: 

• 401k and 403b accounts 4:43

• IRA contribution limits and tax benefits 7:13

• Deadlines and contribution strategies 9:38

If you enjoyed this episode, please rate, review and share it! 

Links:

IRA income caps

Free Class: https://go.sunlighttax.com/free

Today, I'm chatting about healthcare related year-end tax planning strategies that you can use to save money if you are self-employed. I'm diving into the differences between Flexible Spending Accounts and Health Savings Accounts including the benefits and how you can maximize your contributions.

Join me in this episode to learn how you can make sure you're making the most of your healthcare savings as the end of the year approaches.  

Also mentioned in today's episode: 

• Flexible Spending Accounts 5:50

• Health Savings Accounts 9:10 

• Maximizing your HSA benefits 16:05

If you enjoyed this episode, please rate, review and share it! 

Links:

Join my Program: https://www.sunlighttax.com/moneybootcampimpact

Today, In the wake of the election, I'm sharing my personal recipe for maintaining your mental health during tough political times and emphasizing the importance of taking care of your basic needs. I'm also talking about how you can focus on finding joy in the small moments and connecting with loved ones, rather than getting caught up in the negativity of social media and constant news consumption.

Join me in this important episode to learn how you can make sure you're prioritizing your mental health and how you can make a difference in local elections.  

Also mentioned in today's episode: 

• Focusing on something you can control 6:36

• Finding joy in the small things and turning to the arts 11:44

• Increasing political engagement and reducing news intake 25:03

If you enjoyed this episode, please rate, review and share it! 

Links:

Join my Program: https://www.sunlighttax.com/moneybootcampimpact

In today's episode, I'm going over the IRS benefits for those affected by federally declared disasters and highlighting the automatic qualification for disaster relief, including filing and payment extensions, and the option to file an amended return.

Join me to learn about the various IRS tax benefits and relief measures available to you if you're ever impacted by a federally declared disaster.

Also mentioned in today's episode: 

• Casualty losses and amended returns 7:55

• Disaster declaration numbers and deadline extensions 11:53

• Non-taxable disaster relief payments 15:44

If you enjoyed this episode, please rate, review and share it! 

Links:

• Eligible individuals or families can get free help preparing their tax return at Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) sites. To find the closest free tax help site, use the VITA Locator Tool or call 800-906-9887. Note that normally, VITA sites cannot help claim disaster losses.

• To find an AARP Tax-Aide site, use the AARP Site Locator Tool or call 888-227-7669.

• Any individual or family whose adjusted gross income (AGI) was $79,000 or less in 2023 can use IRS Free File's Guided Tax Software at no cost. There are products in English and Spanish.

• Another Free File option is Free File Fillable Forms. These are electronic federal tax forms, equivalent to a paper 1040 and are designed for taxpayers who are comfortable filling out IRS tax forms. Anyone, regardless of income, can use this option.

• MilTax, a Department of Defense program, offers free return preparation software and electronic filing for federal tax returns and up to three state income tax returns. It's available for all military members and some veterans, with no income limit.

Ways to help WNC Relief efforts:

1. Emergency Relief Fund Grants for Artists

2. The WNC Strong: Rebuilding Together Grant for grant aid to help local WNC businesses survive and rebuild

3. The Sunlight Tax Paypal mutual aid fund. 100% of donations will be given to people I know and love and who need it

4. Love Asheville from Afar: links to WNC businesses that have inventory and would love your support. Please consider Asheville and WNC businesses as you send gifts this fall and for the holidays.

Today, I'm discussing the tax implications of mutual aid funds and how it relates to the context of Hurricane Helene's impact here in Western North Carolina with the creation of paypals and fundraisers for donations. 

Join me in this important episode to learn how to handle the tax side of mutual aid and how to make sure you're staying on the right side of the IRS.  

Also mentioned in today's episode: 

• The importance of documenting gifts with written proof 3:45 

• Offsetting tax liability 7:29

• Charitable donations and itemized deductions 12:48 

If you enjoyed this episode, please rate, review and share it! 

Links:

Emergency Relief Fund Grants for Artists

The WNC Strong: Rebuilding Together Grant for grant aid to help local Businesses survive and rebuild: https://www.mountainbizworks.org/helene/donate

For Sunlight Tax Mutual Aid donations. I will donate 100% of these funds directly to people in need.