In today’s episode, I’m going over when your business actually starts according to the IRS, the importance of profit motive and the major benefits to filing a Schedule C even if you’re a new business. 

 

Join me today as I explain the details of getting your business started and how you can prepare for your first year of filing taxes as an entrepreneur. 

 

Also mentioned in today’s episode: 

 

• When a business starts from a tax perspective 1:30

• Start up expenses and profit motive 7:21

• Tax deductions for a business in the first year 9:28

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

Links:

https://go.sunlighttax.com/register

Today, I’m sharing how you can reduce your tax overwhelm and get some relief when it comes to filing your taxes for your small business. I’m giving you 3 systems you need to make sure you stay organized during tax time so you can reduce your overwhelm. 

 

Join me in this informative episode as I give you some quick tips on creating a simplified system for bookkeeping and taxes as a self-employed creative.   

 

Also mentioned in today’s episode: 

 

• Bookkeeping and your taxes 4:35

• Schedule C tax filing and entity formation 8:19

• The 3 systems self-employed people need to stay organized with taxes 12:30

• Why you shouldn’t mix your personal and business accounts 16:49

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

 

Links:

https://go.sunlighttax.com/register

 

This week, I’m sharing an interview I did on the Emerging Brands Podcast with Kelly Bennett. 

 

Kelly Bennett is a New York City based Brand Strategist who helps brands define their brand strategy and develop brand narratives. 

 

Join me in this episode as I talk about my business, how and why I started my company and some important parts of accounting you should know as an entrepreneur. 

 

Also mentioned in today’s episode: 

 

• My background and why I started Sunlight Tax 4:49

• Do small businesses need an LLC or an S Corp? 23:45

• Money Bootcamp and how it helps streamline taxes and bookkeeping for small businesses 30:46

• Financial empowerment and ethical investing 41:51

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

 

Links:

 Emerging Brands Podcast

 

 

Farnoosh Torabi is an Iranian-American personal finance expert, journalist, author and the host of the So Money podcast.  

 

Today, Farnoosh joins me to talk about her new book, A Healthy State of Panic, why the idea of fearlessness can sometimes be problematic and how growing up in an immigrant household shaped her relationship with fear. 

 

Join both Farnoosh and I today to learn more about how you can use your fear constructively to make positive changes in your life. 

 

Also mentioned in today’s episode: 

 

• Fear and decision making when it comes to personal finance 4:19

• Overcoming investing fears 15:58

• Fear and upbringing in an immigrant family 24:56

• How you can use your fear to make positive changes 39:03

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

 

Links:

 https://ahealthystateofpanic.com/ 

 

Today, I’m talking about some of the best things I’ve invested in during my time as a business owner that have brought me a good return on investment. I’m also sharing how you can determine if something will be a good ROI for you in your business.  

 

Join me today to learn how you can break through any mindset barriers you have when it comes to spending money and make smart investments that will bring you a good return. 

 

Also mentioned in today’s episode: 

 

• Thinking about money as an artist 2:22

• Some of the best things I’ve invested in 7:00

• How can you tell if something is worth your money? 28:26

• The value of Money Bootcamp 33:04

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

 

Links:

Join the free live class, Understand Your Taxes and Make Money

Book a free 15-minute call with Lisa Zayiha, coach: https://schedulewithlisaz.as.me/consultationcall   Sarah M. Chappell: https://sarahmchappell.com/

Have you ever wondered what questions you should ask when you’re hiring a new accountant?

 

Today, I’m explaining some of the biggest mistakes I see people make when they begin to work with an accountant and clarifying what you don’t get when hiring an accountant. 

 

Listen to today’s episode to learn how working with an accountant could work for your small business, some of the benefits and how you can make sure you pick the right one for you. 

 

Also mentioned in today’s episode: 

 

• The disconnect between art and business 10:19

• Learning about new tax credits 14:14

• How to know which questions you should ask your new accountant 20:13

• Estimated quarterly taxes and why they are so important 24:42

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

 

Links:

Join the free live class, Understand Your Taxes and Make Money

 

In today’s timely bonus episode, I am sharing some information on student loans, the new SAVE program and how this new program can help lower your payments and still lead to student loan forgiveness. 

 

Join me as I give you all the nitty-gritty details about your student loans including who qualifies for the SAVE program and how you can make sure you sign up for it to take advantage. 

 

Also mentioned in today’s episode: 

 

• What’s different about the SAVE program and what does it include? 3:33

• Forgiveness of your loan 8:00

• Who qualifies for the SAVE program 10:12

• What is the Fresh Start program? 18:00

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

 

Links:

Federal Student Aid website

Waitlist for Money Bootcamp

 

Today, I want to talk about 2 areas of the tax code where you can get more money as a deduction than you actually spent and how you can make the most of these deductions during tax season.

 

Join me in this episode to learn how you can maximize your tax deductions and get the most money in your pocket. 

 

Also mentioned in today’s episode: 

 

• Tracking your mileage deduction 4:08

• The expense method vs. mileage method 8:31

• Standard vs. standardized per diems 16:33

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

 

Links:

And here are the links for the show notes for it:

Free visual tax deductions guide

MileIQ  Use code HCOL124A for a 20% discount

Per diem meals rate lookup

 

 

 

 

 

Today, I’m sharing an article I wrote about why it’s so important to keep your personal and business bank accounts separate as an entrepreneur. I’m also sharing information about LLC’s vs. a sole proprietorship and if having an LLC really changes anything during tax time. 

 

Join me in this episode to hear why mixing your personal and business accounts can hurt your business and to learn more about whether you should switch to an LLC.  

 

Also mentioned in today’s episode: 

 

• LLC’s and your taxes 1:09

• Why your personal and business accounts should be separated 2:19

• Can you operate as a sole proprietorship or do you need an LLC? 6:04

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

 

Links:

VVRKSHOP, Paddy Johnson: https://www.vvrkshop.art/

IRS 9 point list for hobby vs business

 

Today, I’m sharing important details about the Child and Dependent Care Tax Credit and how you can use it during the summer months when sending your children to summer camp. 

 

I’m also talking about the difference between a tax credit and a tax deduction and why a credit is more beneficial to the taxpayer. 

 

Join me in this episode to learn how you can take advantage of this tax credit and how it can apply to you. 

 

Also mentioned in today’s episode: 

 

• What is the Child and Dependent Care Tax Credit? 1:00

• Tax credit vs. deduction 6:44

• What qualifies for this credit and how much can you claim? 9:56

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

 

Links:

VVRKSHOP, Paddy Johnson: https://www.vvrkshop.art/