Sunlight Tax

Today, I'm talking about the importance of estimated quarterly taxes if you're self-employed and how you can use the Safe Harbor rule, to help make an accurate tax estimate if your income is different this year from last year. 

Join me in this episode to learn how you can avoid tax penalties and large tax bills by estimating your quarterly taxes as accurately as possible. 

Also mentioned in today's episode: 

• What is the Safe Harbor Rule? 2:20

• Paying your quarterly taxes based on current year income 9:10

• The benefits of paying quarterly taxes 13:00

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

Links:

On-demand class on Making Taxes Easier/Best Deal on my program, Money Bootcamp

In today's episode, I'm talking about the importance of paying your quarterly taxes as a business owner and how you can start paying them now, even if you've missed them in the past. I'm also giving an update on the Beneficial Ownership Information Report and how you can get yours done. 

Join me in this important episode to get all the tips you need to start paying your quarterly taxes so you can avoid getting any large tax bills. 

Also mentioned in today's episode: 

• Steps to file a BOI report 5:30

• Calculating your estimated quarterly tax payments 10:39

• Addressing income variations and future adjustments 12:15

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

Links:

Free Class on Making Taxes Easier, On-Demand

Free Mini Course for LLCs, File Your BOI Report 

Today, I'm chatting about another commonly missed tax deduction for self-employed individuals: parking and tolls. I'm diving into how tolls and parking should be tracked separately and added to the car expense category on tax schedules so you can get the deduction you deserve.

Join me in this episode to get some practical tips on how to easily track your parking and toll expenses for this upcoming tax season. 

Also mentioned in today's episode: 

• Tracking parking and tolls separately from mileage 2:26

• Methods for tracking car expenses 2:44

• Practical tips for maximizing your deductions 4:30

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

Links:

Sunlight episode on tracking mileage deduction

Save your seat for the free class, Make Taxes Easier and Stash an Extra $152k in Your Savings

Today, I'm chatting about a commonly missed tax deduction for entrepreneurs: cell phone and internet expenses. I'm going over why these deductions are missed and how you can utilize them to get the most out of your tax return this year. 

Join me in this episode to learn how to calculate a reasonable business percentage for these mixed-use expenses so you can maximize your allowable deductions and keep more of your hard-earned money. 

Also mentioned in today's episode: 

• Calculating business percentage for cell phone expenses 2:54

• Internet usage and business deductions 5:50

• Tracking and documenting your personal expenses 8:28

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

Links:

Save your seat for the free class, Make Taxes Easier and Stash an Extra $152k in Your Savings

Check out my program, Money Bootcamp.

In today's episode, I'm chatting about the common confusion around tax deductions for home offices or studios, including what you can and cannot deduct as an entrepreneur. I'm also explaining how discrepancies between bookkeeping and tax deductions for a home office are normal and expected. 

Listen to this episode to get a better understanding of how to maximize your home office and studio deductions. 

Also mentioned in today's episode: 

• The criteria for home office deductions 2:35

• How you can calculate your home office deductions 6:50

• Direct expenses and quarterly tax payments 8:20

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

Links:

 Visual Guide to Tax Deductions

Check out my program, Money Bootcamp.

Today, I'm talking about the importance of understanding and managing your estimated quarterly taxes as a self-employed individual and addressing some of the common fears associated with making estimated payments. 

Join me in this episode to learn how you can set up your quarterly payments to avoid a large tax bill and the stress that comes along with it. 

Also mentioned in today's episode: 

• How quarterly taxes 10:04

• Common mistakes and reporting issues 10:30

• Reconciliation and tax return process 10:45 

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

Links:

Check out my program, Money Bootcamp.

Today, I'm talking about the common problem of receiving an incorrect 1099 as an entrepreneur, including what you need to look for and how you can make the corrections to avoid any problems with filing your taxes. 

Join me in this episode to get all of the details needed for correcting any 1099s that may have errors and what you can do to avoid any issues with filing. 

Also mentioned in today's episode: 

• Steps to correcting a 1099 6:30 

• Handling discrepancies in 1099s 12:10 

• Reimbursed expenses and 1099 reporting 14:47

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

Links:

Farnoosh Torabi's Book to Brand conference in NYC

My quick, easy 1099s course

Check out my program, Money Bootcamp.

Have you been wondering what's going on with the Corporate Transparency Act? Today, I'm diving into the newest update of the Corporate Transparency Act and Beneficial Ownership Information Report, including what you need to do as an entrepreneur to stay proactive.

Listen to this episode to get your up-to-date information on BOI Reporting and how you can make sure you avoid any penalties that may pop up. 

Also mentioned in today's episode: 

• Impact on small LLC's 3:30

• Legal challenges and court rulings 4:08

• Recommendations for business owners 9:41

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

Links:

Free Mini-Course on New Rules for LLCs/BOI Report

Check out my program, Money Bootcamp.

Today, I'm going over the importance of issuing 1099 forms if you're self-employed, including who needs to receive them, the deadlines and penalties involved if you miss it. 

Tune into this episode to get an understanding of the 1099 process and to get strategies to simplify issuing 1099s, so you can stay organized and avoid any penalties. 

Also mentioned in today's episode: 

• Types of 1099 forms and their uses 5:30

• Who needs a 1099 and who doesn't 6:56

• Action checklist for issuing 1099s 19:00

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

Links:

Blank W9 for you

My course on issuing 1099s

Check out my program, Money Bootcamp.

Today, I'm giving you a comprehensive January checklist to help organize your taxes if you're self-employed so that you can have a headstart on your taxes for 2025.  

Tune in to this episode to get a strong start to the tax year and put systems in place to simplify your tax preparation process.

Also mentioned in today's episode: 

• Why you should check your odometer now 2:11

• Issuing 1099's and estimated tax payments 6:48

• Maintaining business bank accounts and receipts 10:45

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

Links:

Check out my program, Money Bootcamp.