Sunlight Tax

This week, I'm sharing an episode that aired on the Creative Baggage podcast where I was recently a guest.  

Creative Baggage is a conversation-based podcast giving voice to the unspoken baggage of pursuing a career in the arts.

In this episode, I speak about my career in both the arts and taxes and offer some practical advice on managing your finances as an artist. 

Also mentioned in today's episode: 

• My background in the arts and how I got started in the tax field 2:05

• The breakeven point in business 14:59

• The importance of forming relationships 22:10

• Creating a community through social media 30:39

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

Links:

Check out Creative Baggage: 

https://podcasts.apple.com/us/podcast/creative-baggage/id1514894003

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

It's easy to get confused when it comes to figuring out what you need to report as income on your tax return. 

Today, I'm going over some of the most common ways to receive money as an entrepreneur and talking about what actually counts as income in your business so you can be prepared for your taxes. 

Join me in this episode to learn more about determining your total income and how you can make sure you report it correctly to the IRS.

Also mentioned in today's episode: 

• How to know when something is income and when it's not 9:54

• What is the function of the people you serve? 12:16

• Should you itemize your tax return? 13:55

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

Links:

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

Today, I'm sharing my 3 quick and easy tips to make taxes easier for you as an entrepreneur.  

Join me in this episode to learn how you can eliminate stress around filing your taxes and make sure you get the most out of your income. 

Also mentioned in today's episode: 

• Where you need to focus your energy and attention on 5:35

• Customizing your bookkeeping 10:45

• Working with softwares and what you need to know 13:27

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

Links:

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

This week, I'm giving you a quick mini bonus episode to share the details about my training video that teaches you how to make your estimated quarterly tax payment on the IRS website. 

To watch the training video: https://www.sunlighttax.com/payment

Do you need a tax extension and you're freaking out about it? 

Today, I'm sharing the details about tax extensions for entrepreneurs and what you need to know about filing for an extension before the April tax deadline. I'm also explaining why tax extensions aren't as bad as you might have thought.  

Join me in this episode to learn some of the top reasons you might need a tax extension and how you can file for one. 

Also mentioned in today's episode: 

• The difference between filing and paying 2:33

• Reasons for getting a tax extension 6:38

• What you need to be aware of when it comes to tax extensions and the tax deadline 11:58

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

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

Today, I'm sharing more about the word "aggressive" and what it means when you're setting up investments as an entrepreneur.  I'm explaining why and when you might want to focus on more high growth strategies for your investments.  

Join me in this episode to learn why you might be intimidated by the word "aggressive" and how you can push past that to get the most out of your investment preferences.  

Also mentioned in today's episode: 

• What does the word aggressive mean when it comes to investing? 4:25

• Setting investment preferences 6:06

• How what you were taught as a child can have an impact on your investing now 10:23 

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

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

Today, I'm sharing with you some information about the recently passed Secure 2.0 Act and how it can help you stash more FU money and expand your retirement funding. 

Listen to this episode to hear all of the details about the Secure 2.0 Act, how you can take advantage of it with your retirement plan and why it's so helpful for every tax payer. 

Also mentioned in today's episode: 

• What is the Secure 2.0 Act? 8:28

• How the Secure 2.0 Act helps with retirement funding 12:15

• How you can take advantage of this act with your retirement 18:45

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

Links:

https://www.sunlighttax.com/moneybootcamp2023

 I use a service (Guideline) that plugs into my payroll software (Gusto - this is my referral link, and it will save you $100. I *highly* recommend Gusto for running payroll and paying contractors/complying with 1099s/W2s). Guideline is so affordable and streamlined that even as a small employer, I have no trouble maintaining my 401k.

Are you feeling judgement or fear when it comes to your taxes and finances? 

Today, I'm talking about the mental load of financial fear and the anxiety you might have surrounding your taxes or retirement as a creative entrepreneur. I'm also sharing why it's so important to our creative practice to break through those fears so you can increase your impact in this world.    

Join me to learn more about how you can move past any disorganization and fearful thoughts you have about money and become more organized and financially secure.

Also mentioned in today's episode: 

• The fear of judgement 4:10

• The mental load of feeling stressed and disorganized 8:45

• How tax planning and taking charge of your finances would change your life 10:55

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

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

One of the top questions I get asked in my one to one consultations as a tax accountant for creative entrepreneurs is: Do I need an LLC?

Today, I'm diving into LLC's and explaining from an accounting perspective the details of why entrepreneurs might consider changing their business status to an LLC and the benefits that come along with it. 

Join me in this episode to learn more about LLC's and why having one doesn't define your business status. 

Also mentioned in today's episode: 

• Single member and multi member LLC's 3:17

• What is an LLC and what does it do 12:13

• Liability protection 14:50

• The importance of having a separate business bank account 20:46

• The next steps to take after having an LLC 23:08

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

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

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