Today, I'm explaining the home office deduction including how you can calculate your own home office deduction when you're filing your taxes as a creative entrepreneur this upcoming tax season.

Join me in this informative episode to learn a simplified way of calculating this important deduction and how you can make sure you're getting the most out of it this tax season.

Also mentioned in today's episode:

• What is a home office? 1:51

• Calculating the home office deduction 7:16

• Your deductible home office expenses 8:56

• Personal vs. business time and how to calculate it 14:00

• Calculating mileage when you have a home studio 16:30

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

Links:

https://go.sunlighttax.com/free

In today's episode, I'm talking about a very important topic: how to pay yourself first as a creative entrepreneur and how you can grow your stash of fuck you money.

Join me today, to hear the important steps you can take to make sure that you set yourself up for financial security and why it's never too late to start contributing to your IRA.

Also mentioned in today's episode:

• Why you should set apart the full amount of money you want to use to fund your IRA first 9:25

• Paying yourself first and how to do it 11:34

• Why financial security is so important 13:22

• Is it ok to start funding your IRA later in life? 15:27

• Understanding your taxes 26:15

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

Links:

https://go.sunlighttax.com/free

Are you a creative entrepreneur who's been wondering when you should hire an accountant or if you'll be able to just do your own taxes?

In today's episode, I'm breaking down some of the most common scenarios that you might want to consider actually hiring an accountant and when you can just do your own taxes as an entrepreneur.

Join me in this informative episode to learn the best times to consult an expert and why using an accountant might save you money in the long run.

Also mentioned in today's episode:

• When it's a good time to consult an accountant 5:33

• Why it's not as expensive as you think to hire an accountant 8:30

• Tax returns and what you're paying for 11:00

• Tax planning and strategy and why it's important to consult an accountant 21:15

• Understanding your taxes 26:15

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

Links:

https://go.sunlighttax.com/free

Today, I'm diving into the second part of paying estimated quarterly taxes and sharing how you can actually calculate what your quarterly payments to the IRS should be.

Join me to learn how you can determine your payments and why you should stop focusing on perfection and exact numbers.

Also mentioned in today's episode:

• How to get started paying your estimated quarterly taxes 4:40

• Safe harbor rules 17:20

• Paying 90% of last years quarterly taxes 22:22

• Calculating your income tax 25:11

• States and quarterly taxes 27:56

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

Links:

Understand your Taxes and Make Money Free Class:

https://go.sunlighttax.com/free

If you're a creative entrepreneur, chances are that you might be confused with the idea of paying your estimated quarterly taxes.

Today, I'm breaking down all of the details about estimated quarterly taxes including how to know what you owe and when you need to submit payment to the IRS.

Join me in this informative episode to learn how you can stay caught up on your taxes and how you can avoid a large, unexpected tax bill.

Also mentioned in today's episode:

• What is a pay as you go tax system? 3:11
• How estimated quarterly taxes work 15:42
• The dates you need to know 18:30
• How you can calculate your payment 21:02

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

Links:

Understand your Taxes and Make Money Free Class:

https://go.sunlighttax.com/free

This week, I'm giving you a quick and practical episode answering some of the common questions I've received about 1099's so I can clarify any confusion before this upcoming tax season.

Join me in this episode to get important details and information about 1099's including what you should do if you don't receive one from someone who's paid you.

Also mentioned in today's episode:

• Do you need to report your income when it's under $600? 3:10
• Correcting incorrect 1099's 5:42
• What to do if someone refuses to give you a 1099 8:35
• Penalties for not reporting all of your income 18:33

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

Links:

1099s class:

Courses.sunlighttax.com/1099

Money Bootcamp, free class and to join:

Go.Sunlighttax.com/register

Preparing for tax season can be overwhelming especially if you're a business owner.

In this week's episode, I'm sharing some of the easy tips I have for you as a creative entrepreneur preparing for tax season.

Join me in this informative episode to learn the action tips you need to take today to make your tax season seamless and stress-free.

Also mentioned in today's episode:

• How to start tracking your mileage 3:00
• How to set up a plan for your tax documents 6:47
• Organizing your receipts 9:11
• The importance of bookkeeping 10:35

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

Links:

Odometer

Mileage app:

MileIQ code: HCOL124A (20% off!)

1099s class:

Courses.sunlighttax.com/1099

Money Bootcamp, free class and to join:

Go.Sunlighttax.com/register

In this week's special bonus episode, I'm breaking down any confusion and explaining all of the details you need to know about 1099s as a creative entrepreneur, including whether or not you need to issue one to your independent contractors.

Join me in this episode to get a head start on the upcoming tax season and to hear about the live workshop I'm hosting to help you get prepared when it comes to 1099s.

Also mentioned in today's episode:

• Different types of 1099s and how to know which one you need 4:12
• The basic rules of 1099s and the penalties for not issuing 1099s on time 5:45
• Exceptions for issuing 1099s 6:28
• ACH transfers 10:47
• Getting a 1099 and W9 14:39
• What you can do today to prepare 17:48

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

Links:

https://courses.sunlighttax.com/1099

https://www.sunlighttax.com/deductionsguide

Today, I'm sharing my thoughts about why it's so hard for creative entrepreneurs and ethically aligned people to get well served when it comes to money.

Join me in this episode as I go over the 10 main points and the solutions on how creative and mission-driven people can stop having a bad relationship with money and grow their wealth.

Also mentioned in today's episode:

• Why is it so difficult for us to get on top of our money 2:53
• Mission-driven people and why they can get into a bad relationship with money 5:18
• The difference between having tax knowledge vs bookkeeping knowledge 19:37
• The 3 part system you need to grow your money 23:56
• How its possible for you to have a modest income and big stash of money 28:55

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

Links:

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/free

Bookkeeping and accounting are topics that can intimidate and confuse a lot of entrepreneurs so in today's episode, I'm deep diving into what bookkeeping really is and why you need it as a business owner. I'm also sharing who actually needs a complicated bookkeeping system and who can stick to something simple.

Join me in this episode to get a quick lesson on bookkeeping and learn how you can stay ahead of the tax season as a creative entrepreneur.

Also mentioned in today's episode:

• Audited financials and what it means 3:24
• Double-entry bookkeeping and why you probably don't need complicated things 10:06
• How to break out key categories in a tax return 17:19
• Tracking things for your tax return that don't get tracked in bookkeeping software 19:13
• Why financial training is important 26:29

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

Links:

https://go.sunlighttax.com/free

https://www.sunlighttax.com/deductionsguide