THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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LLC Myths: The Truth About LLCs and Taxes
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In this episode of the Sunlight Podcast, I’m unpacking some of the biggest myths I hear about forming an LLC. If you're self-employed or thinking about business formation, it's so important to understand what an LLC really is—and what it isn't. I talk through common misconceptions about taxes, liability protection, whether an LLC makes you a “real” legal entity, and how much ongoing accounting or paperwork is actually needed.
I also share why business insurance is still essential (yes, even if you have an LLC), and how good financial advice can help you make smart choices for your business. Plus, I give a sneak peek at my upcoming book, Taxes for Humans, where I go even deeper into LLCs, business structures, and all the stuff no one teaches you when you become self-employed.
Listen and Subscribe Here
In this episode of the Sunlight Podcast, I’m unpacking some of the biggest myths I hear about forming an LLC. If you're self-employed or thinking about business formation, it's so important to understand what an LLC really is—and what it isn't. I talk through common misconceptions about taxes, liability protection, whether an LLC makes you a “real” legal entity, and how much ongoing accounting or paperwork is actually needed.
I also share why business insurance is still essential (yes, even if you have an LLC), and how good financial advice can help you make smart choices for your business. Plus, I give a sneak peek at my upcoming book, Taxes for Humans, where I go even deeper into LLCs, business structures, and all the stuff no one teaches you when you become self-employed.
00:00 Introduction to LLC Myths
04:43 Myth 1: LLCs Change Your Taxes
08:28 Myth 2: LLCs Make Your Business Official
10:25 Myth 3: LLCs Are the Only Protection
13:12 Myth 4: LLCs Are Set It and Forget It
17:19 Final Thoughts and My Book, Taxes for Humans
Takeaways
LLCs do not change your taxes; they are a legal entity.
Your business is official when you have a profit motive, not an LLC.
LLCs provide liability protection but are not the only option.
Business liability insurance can also protect your business.
Maintaining an LLC requires annual fees and updates.
Accounting practices are essential to uphold LLC protections.
Don't rely on friends' advice about LLCs; understand your own needs.
Pre-orders for books are crucial for their success.
An LLC is a flexible entity that allows various tax options.
Separate business and personal accounts are mandatory for LLCs.
If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.
Links:
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.
My On-demand class: Make Taxes Easier and Stash an Extra $152k in Your Savings
Year-End Savings: Business Expenses
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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.
Listen and Subscribe Here
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!
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Sales Tax vs. Income Tax
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Today, I’m diving into the topic of Sales Tax vs. Income Tax and emphasizing why it’s so important for you to know the difference.
Join me in this episode, to learn more about the differences between sales tax and income tax and how it can affect you as an entrepreneur.
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Today, I’m diving into the topic of Sales Tax vs. Income Tax and emphasizing why it’s so important for you to know the difference.
Join me in this episode, to learn more about the differences between sales tax and income tax and how it can affect you as an entrepreneur.
Also mentioned in today’s episode:
The main differences between sales tax and income tax 11:13
Registration and filing requirements 13:49
Sales tax filing process 16:00
If you enjoyed this episode, please rate, review and share it!
Links:
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.
Emergency Relief Fund Grants for Artists
Join my Program: https://www.sunlighttax.com/moneybootcampimpact
Why You Get Stuck in a Tax Pain Cycle
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In today’s episode, I’m chatting about the common cycle of pain self-employed individuals face during tax season and how tax preparation services often lack the education necessary to break this cycle.
Join me today to learn how you can implement systems that can help you avoid large, unexpected tax bills and penalties going forward.
Listen and subscribe here
In today’s episode, I’m chatting about the common cycle of pain self-employed individuals face during tax season and how tax preparation services often lack the education necessary to break this cycle.
Join me today to learn how you can implement systems that can help you avoid large, unexpected tax bills and penalties going forward.
Also mentioned in today’s episode:
The cycle of pain: the initial challenges 4:12
Surprise tax bill and its consequences 4:50
Breaking the cycle of pain with simple systems 10:25
If you enjoyed this episode, please rate, review and share it!
Links:
Register for the free class, Make Taxes Simple and Stash an Extra $130k in Your Savings.
Corporations: Why You're Feeling so Confused
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Today, I’m giving you a short and sweet episode where I discuss the confusion surrounding the term "corporation" in tax and business contexts and explain how the word can be used differently depending on who is using it.
Join me in this episode to get some clarification on the term “corporation” and how it relates to you as a business owner.
Listen and Subscribe Here
Today, I’m giving you a short and sweet episode where I discuss the confusion surrounding the term "corporation" in tax and business contexts and explain how the word can be used differently depending on who is using it.
Join me in this episode to get some clarification on the term “corporation” and how it relates to you as a business owner.
Also mentioned in today’s episode:
Understanding the confusion around the word “corporation” 1:10
Clarifying the tax structures of small businesses 3:11
The role of LLC’s 6:36
If you enjoyed this episode, please rate, review and share it!
Links:
Register for the free class, Make Taxes Simple and Stash an Extra $130k in Your Savings.
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