THE SUNLIGHT TAX BLOG:

Tax and Money Education for Creative People, Freelancers and Solopreneurs

My Tips for Focus, Plus A US Debt Revelation

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In today's episode, I’m talking about the importance of voting and my research into tax policy and deficits and how the rising national debt levels impact young voters. I’m also providing tips on using templates and maintaining a schedule to maximize your focus and productivity, especially if you’re a writer.

Listen to this important episode to learn how to use templates to save time in your personal life and work.

Listen and Subscribe here

In today's episode, I’m talking about the importance of voting and my research into tax policy and deficits and how the rising national debt levels could impact you as a younger voter. I’m also providing tips on using templates and maintaining a schedule to maximize your focus and productivity, especially if you’re a writer. 

Listen to this important episode to learn how to use templates to save time in your personal life and work.  

 

Also mentioned in today’s episode: 

  • The importance of voting in local elections 3:10

  • History of US debt and the presidents that have run it up 10:40

  • Using templates to manage correspondence and stay focused 12:55

  • The importance of maintaining a consistent schedule for productivity 18:50

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

Links:

Fiscal Therapy, by William G. Gale

Brand new updated Visual Guide to Tax Deductions

 

New Visual Guides:

Writers' Guide To Tax Deductions

Doula/Widwife Guide To Tax Deductions

Wellness Practitioner's Guide To Tax Deductions

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Sunlight Podcast Hannah Cole Sunlight Podcast Hannah Cole

Deliver Your Best Work with this Magic Tip

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DELIVER YOUR BEST WORK WITH THIS MAGIC TIP

Today, I’m sharing one of my best tips for providing great work and the importance of setting clear expectations and an open line of communication when working with clients. 

Join me in this episode as I go over how you can create a great working relationship for both you and your clients and how you can set clear expectations and boundaries with your clients. 

LISTEN AND SUBSCRIBE HERE

Today, I’m sharing one of my best tips for providing great work and the importance of setting clear expectations and an open line of communication when working with clients. 

 

Join me in this episode as I go over how you can create a great working relationship for both you and your clients and how you can set clear expectations and boundaries with your clients. 

 

Also mentioned in today’s episode: 

  • Why it’s so important to communicate boundaries and expectations 7:18

  • How parenting helped me set expectations better in my job 12:14

  • Setting client expectations for time based services 14:49

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



Links:

Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc

IRS Proof Your Business Deductions

Watch Youtube video version

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Sunlight Podcast Hannah Cole Sunlight Podcast Hannah Cole

Business vs. Hobby & the IRS 9 Point Test for Profit Motive

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Business vs. Hobby & the IRS 9 Point Test for Profit Motive

Today, I’m talking about the tax laws related to distinguishing between a hobby and a legitimate business when you’re a creative professional. I’m also explaining the IRS's view of profit motive as the key factor and discussing how you can determine whether you have a business or hobby.


Join me in this episode to get some advice and tips on how you can prove profit motive and avoid being wrongly classified as a hobby by the IRS.

LISTEN AND SUBSCRIBE HERE

Today, I’m talking about the tax laws related to distinguishing between a hobby and a legitimate business when you’re a creative professional. I’m also explaining the IRS's view of profit motive as the key factor and discussing how you can determine whether you have a business or hobby.


Join me in this episode to get some advice and tips on how you can prove profit motive and avoid being wrongly classified as a hobby by the IRS.

Also mentioned in today’s episode: 

  • Why profit motive is so important 5:35

  • The IRS’s nine-factor test for determining if a creative hobby is a business 19:35

  • The hobby loss rule and how it’s applied 33:07

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

Links:

IRS audit technique guide: https://www.irs.gov/pub/irs-pdf/p5558.pdf

https://www.irs.gov/newsroom/heres-how-to-tell-the-difference-between-a-hobby-and-a-business-for-tax-purposes

The Sunlight Podcast Episode 67: Your Business Already Started

An Audit Nightmare Turned Artist Victory: An Interview with Susan Crile

Learn more about Money Bootcamp

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Why It Matters Who You Listen To

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Why It Matters Who You Listen To

Today, I want to talk about why it’s so important who you take advice from when you’re an entrepreneur. I share some of my experiences and some of the advice I was given that didn’t account for my unique responsibilities and constraints as a new entrepreneur and mother. 

Listen to this episode to get some guidance on how you can make decisions based on your own values and needs and not someone else’s.  

LISTEN AND SUBSCRIBE HERE

Today, I want to talk about why it’s so important who you take advice from when you’re an entrepreneur. I share some of my experiences and some of the advice I was given that didn’t account for my unique responsibilities and constraints as a new entrepreneur and mother. 

 

Listen to this episode to get some guidance on how you can make decisions based on your own values and needs and not someone else’s.  

 

Also mentioned in today’s episode: 

 

  • My experience of just starting out in business while still taking care of children 3:35

  • Why it’s important to understand people's needs and safety concerns when giving business advice 7:40

  • Blind spots in gender dynamics when it comes to giving advice 13:00

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

Links:

IRS Proof Your Business Deductions

Watch Youtube video version

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Business Management, Sunlight Podcast Hannah Cole Business Management, Sunlight Podcast Hannah Cole

The Right Step at the Right Time

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Are you an entrepreneur who has wondered if it’s time for you to form an LLC or an S Corp?

Today, I’m going over the business order of operations and why it’s so important to focus on the next level of your business instead of planning far ahead so you don’t waste valuable time and money. 

 Join me in this important episode as I go over some of the important steps in entrepreneurship and when you might want to consider taking the leap. 

LISTEN AND SUBSCRIBE HERE

Are you an entrepreneur who has wondered if it’s time for you to form an LLC or an S Corp?

Today, I’m going over the business order of operations and why it’s so important to focus on the next level of your business instead of planning far ahead so you don’t waste valuable time and money. 

 Join me in this important episode as I go over some of the important steps in entrepreneurship and when you might want to consider taking the leap. 

Also mentioned in today’s episode: 

  • LLC as liability protection and do you need liability insurance? 4:22

  • The importance of bookkeeping with Schedule C 8:50 

  • S Corporations and taxes 12:42

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

 

Links:

Visit my opening at the Tracey Morgan Gallary November 3rd

http://www.traceymorgangallery.com/

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