THE SUNLIGHT TAX BLOG:

Tax and Money Education for Creative People, Freelancers and Solopreneurs

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BUSINESS MEALS, MEALS EXPENSE, tax deductions
How to Deduct Business Meals When You're Self-Employed
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BUSINESS MEALS, MEALS EXPENSE, tax deductions

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How to Deduct Business Meals When You're Self-Employed

In today’s episode, I’m sharing how you can deduct business meals on your taxes as a self-employed individual including what you need for your tax documentation and what’s allowable for deduction. 

Join me to learn the rules and guidelines for deducting business meals, the per diem meals allowance for business travel and the benefits business meals for entrepreneurs. 

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BUSINESS MEALS, MEALS EXPENSE, tax deductions
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deductions, tax deductions, travel expenses
How to Deduct Business Travel
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deductions, tax deductions, travel expenses

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How to Deduct Business Travel

Today, I’m talking about an important topic for entrepreneurs: business travel and deducting business travel on your taxes. I’m highlighting the importance of understanding the rules for deducting transportation costs, accommodations, and meals, and sharing how you can properly document your travel so you can avoid getting audited by the IRS. 

Join me in this important episode to learn how you can distinguish between what’s deductible and what’s non-deductible when it comes to business travel expenses.

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deductions, tax deductions, travel expenses
podcast
expenses, deductions, tax deductions
Startup Expenses: A Perk for Your New Business
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expenses, deductions, tax deductions

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Startup Expenses: A Perk for Your New Business

In today’s episode, I’m diving into the topic of startup expenses, the deductions available for new businesses and some of the benefits the tax code provides to new businesses. I give examples of qualifying startup expenses and sharing some information on when you can deduct these expenses on your taxes. 

Listen to this episode to get helpful guidance on taking advantage of tax deductions available in the early stages of a new business.

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expenses, deductions, tax deductions
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BUSINESS LESSON, BUSINESS SETUP, IRS
Business vs. Hobby & the IRS 9 Point Test for Profit Motive
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BUSINESS LESSON, BUSINESS SETUP, IRS

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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.

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BUSINESS LESSON, BUSINESS SETUP, IRS
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tax laws, LLC, Corporate Transparency Act
New Rules for LLCs: Update
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tax laws, LLC, Corporate Transparency Act

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New Rules for LLCs: Update

In today’s episode, I’m revisiting an important topic and giving you an update about the Corporate Transparency Act, which aims to identify owners of LLCs and prevent financial crimes.  

I’m providing an update on information about the requirements of filing a Beneficial Ownership Information report, including the deadlines and penalties and how you can file.  

Join me in this episode to get all the timely information about this act and learn how you can get step-by-step video directions on filing for your LLC! 

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tax laws, LLC, Corporate Transparency Act
podcast
BUSINESS LESSON, BUSINESS SETUP
Why It Matters Who You Listen To
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BUSINESS LESSON, BUSINESS SETUP

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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.  

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BUSINESS LESSON, BUSINESS SETUP
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estimated quarterly taxes, investing, tax education
4 Cases Where Done Beats Perfect
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estimated quarterly taxes, investing, tax education

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4 Cases Where Done Beats Perfect

In today’s episode, I’m sharing my story of struggling with perfectionism and how I was able to overcome that and embrace imperfection and how I came to aim for quality over perfection.

Join me as I share some of my story along with some tips on how you can embrace and live the motto “Done is better than perfect” when you’re just starting out as a business new owner. 

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estimated quarterly taxes, investing, tax education
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personal finance, tax savings, tax deductions, tax tips
How Taxes Can Unlock Your Financial Health
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personal finance, tax savings, tax deductions, tax tips

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How Taxes Can Unlock Your Financial Health

Today, I’m giving some guidance on how you can use tax time as an opportunity to improve your finances and set yourself up for retirement. I’m diving into the importance of getting organized with systems to track tax documents, receipts, and bookkeeping so you can prevent stress and surprises during tax season. 

Join me in this episode as I outline the steps you need to take to improve your financial security as a creative entrepreneur.

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personal finance, tax savings, tax deductions, tax tips
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artist life, money mindset
Thoughts I've Had About Money
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artist life, money mindset

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Thoughts I've Had About Money

Today, I’m sharing some thoughts I’ve struggled with when it comes to my finances, taxes, and financial knowledge so I can motivate anyone who may be experiencing similar challenges with money mindset in your business. 

Join me in this personal episode as I talk about how I’ve been able to move past fears and feelings of inadequacy when it comes to my finances and to hear some tips on how you can do the same. 

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artist life, money mindset
podcast
1099, W2 Income
1099 vs W2 Income and Why it Matters
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1099, W2 Income

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1099 vs W2 Income and Why it Matters

Today on the podcast, I’m going over the key differences between 1099 freelance income and W-2 employee income when filing taxes and how you can simplify your taxes as a self-employed individual. 

Join me in this episode to learn how to file your taxes correctly to avoid penalties and keep your finances simple. 

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1099, W2 Income
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tax tips, deductions, tax deductions
Insider Deduction Tips
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tax tips, deductions, tax deductions

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Insider Deduction Tips

Today, I’m giving you some insight into deductions and details on categories when it comes to your schedule C deductions. I talk about key categories for deductions like advertising and supplies and why it’s so important to keep proper documentation when it comes to deductions on your taxes. 

Join me this week, to get some strategic guidance on maximizing your deductions and avoiding audits by putting expenses in their appropriate categories.

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tax tips, deductions, tax deductions
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deductions, tax deductions
How to Deduct Fees, Bandmate Payouts and Gallery Commissions
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deductions, tax deductions

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How to Deduct Fees, Bandmate Payouts and Gallery Commissions

Today, I’m talking about deducting education expenses and explaining how fees and reimbursement works when it comes to reporting your income on your taxes. 

Listen to this episode to get some insight on tax implications and how you can properly track income to meet the reporting requirements.

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deductions, tax deductions
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tax tips, bookkeeping, self employment
Tips to Make Your Taxes Better Right Now
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tax tips, bookkeeping, self employment

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Tips to Make Your Taxes Better Right Now

In this week’s episode, I’m giving you some of my best tips when it comes to tax preparation and financial planning if you’re self-employed or a small business owner. I’m giving advice on completing bookkeeping, issuing 1099 forms, and why you need to schedule an early tax appointment with accountants. 

Join me in this informative episode as I try to make your taxes as easy as possible so you can reduce stress and manage your money better.

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tax tips, bookkeeping, self employment
podcast
deductions, tax deductions
Can a Massage Therapist Deduct Massages? Education Expenses Explained
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deductions, tax deductions

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Can a Massage Therapist Deduct Massages? Education Expenses Explained

Have you ever wondered what you can deduct when it comes to business expenses? 

Today, I’m deep diving into education expenses and what you can and cannot deduct on your taxes as a business owner. I’m clarifying what you can deduct for continuing education, like seminars on new techniques, and what counts as leisure. 

Listen to this important episode to learn how you can maximize your deductions when you file your taxes this year. 

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deductions, tax deductions
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estimated quarterly taxes, investing
Discomfort Means You're Growing: Estimates and Investments
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estimated quarterly taxes, investing

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Discomfort Means You're Growing: Estimates and Investments

This week, I’m talking about embracing discomfort for your personal growth and financial success and how seeking out discomfort can help drive learning and achievement. 

Join me as I share some of my own experiences of overcoming discomfort and how you can learn to view mistakes as learning opportunities instead of signs of failure.

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estimated quarterly taxes, investing
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1099, 1099s filing
1099s Deep Dive: Listener Questions
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1099, 1099s filing

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1099s Deep Dive: Listener Questions

Today,  I’m going over some listener questions about 1099 tax forms and clarifying some issues that might arise for you as an artist or creative entrepreneur. I’m also giving you some advice on what to do if you get an incorrect 1099 form after filing taxes.  

Join me in this episode to get a head start on your 1099 filings and to learn all the important details of filing correctly so you can avoid any penalties. 

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1099, 1099s filing
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2024 taxes, receipts, bookkeeping
What Are Receipts Actually For?
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2024 taxes, receipts, bookkeeping

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What Are Receipts Actually For?

In today's episode, I’m explaining and going into detail about receipts and bookkeeping for self-employed creatives, including why keeping receipts is important and how you can keep yourself organized for tax season. 

Listen to this important episode to learn more about when you need to keep receipts, where you can keep your receipts so you have them ready if needed and some of the common deductions you can take. 

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2024 taxes, receipts, bookkeeping
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1099, 1099s filing
Issuing 1099s
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1099, 1099s filing

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Issuing 1099s

Today, I’m chatting about the importance of filing 1099 forms if you’re self-employed. I’m explaining who needs to file a 1099, how to file the form correctly and the deadline you need to file by to make sure you avoid any penalties. 

Join me in this important and timely episode to learn about filing your 1099, whether you fit into an exception and how you can track your payments for easier filing. 

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1099, 1099s filing
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taxes for artists, 2024 taxes
Respect Your Work, Then Get Organized
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taxes for artists, 2024 taxes

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Respect Your Work, Then Get Organized

Today, I want to talk about the importance of believing in your work and why it’s so important for creative professionals to know the value of their work in this world. I’m sharing with you some personal examples of how artwork can have a profound impact on others. 

Join me in this episode, to learn more about how you can start taking your creative career more seriously and why you need to start treating it like a job other than a hobby. 

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taxes for artists, 2024 taxes
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tax tips, 2024 taxes
The De-Stress Your Taxes Checklist
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tax tips, 2024 taxes

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The De-Stress Your Taxes Checklist

This week on the podcast, I’m giving you a checklist so you can get organized for this upcoming tax season once January comes and sharing some of my biggest tips for tax organization and planning. 

Join me today to learn the action steps you can take to get a head start on your taxes and finances at the start of the year instead of waiting until the last minute. 

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tax tips, 2024 taxes
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tax credit, tax laws
Tax Credits and Law Changes Not to Miss
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tax credit, tax laws

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Tax Credits and Law Changes Not to Miss

This week, I’m sharing a year-end review of past episodes from 2023 that covered new tax laws and legislation so you can be prepared when it comes to your business finances as we approach the tax season and year end.  

Join me in this episode to get a recap of any new laws or tax credits that could impact you and your finances in 2024.  

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tax credit, tax laws
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year-end tax planning, Tax Planning
Lower Your Taxes at Year-End, Prevent a Cash Crunch
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year-end tax planning, Tax Planning

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Lower Your Taxes at Year-End, Prevent a Cash Crunch

As we approach the end of 2023, I want to talk about end of year tax planning and some strategies on how to avoid a cash crunch in April when your tax bills are due. I’m giving you some budgeting and accounting tips that can potentially lower your taxable income. 

 Join me in this episode to get some valuable insight on staying ahead of your taxes so you can avoid a big bill when the tax deadline comes. 

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year-end tax planning, Tax Planning
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LLC, tax laws
New Rules for LLCs: How The Corporate Transparency Act Affects You
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LLC, tax laws

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New Rules for LLCs: How The Corporate Transparency Act Affects You

In today's episode, I want to talk about a new law that goes into effect in January of 2024 and affects small business owners with an LLC: The Corporate Transparency Act.

 Join me in this important episode to learn more about this law, why it’s actually a good thing and how you can comply to avoid fines. 

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LLC, tax laws
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TAX RATE
Understand Your Tax Rate
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TAX RATE

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Understand Your Tax Rate

Has calculating your income tax rate in the past been overwhelming?

Today, I’m going into detail about income tax rates and helping you understand what the income tax rates are so you can be prepared when it comes time to file your quarterly taxes as a creative entrepreneur. 

Join me in this episode to hear some tips on estimating your income tax rate and how you can avoid errors when calculating your income tax. 

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TAX RATE
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retirement
FU Money for the People
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retirement

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FU Money for the People

On today’s episode, I’m talking about an important topic that I’m very passionate about: saving for retirement. I’m sharing why it’s so important to make sure you contribute to your retirement, how it can help you become a millionaire and some important facts you should know. 

Join me to learn about saving for your retirement and some of the benefits you can get by starting today. 

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retirement
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charitable contributions, donation, taxes for artists
Donating Your Work isn't a Charitable Deduction
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charitable contributions, donation, taxes for artists

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Donating Your Work isn't a Charitable Deduction

As we approach the upcoming holiday season, I wanted to chat about an important topic that comes up often: donating your artwork to a charitable organization and what that means for your taxes. 

Join me today in this important episode as I explain what donating your artwork to charity means during tax time and why nonprofits need to be aware of the tax implications of charitable donations for artists. I also give you some tips on how you can still be charitable without feeling exploited. 

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charitable contributions, donation, taxes for artists
podcast
Tax Calendar, Tax Planning, tax tips
Set Up Your Calendar for Tax Success
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Tax Calendar, Tax Planning, tax tips

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Set Up Your Calendar for Tax Success

Today, I’m sharing with you how you can set up your calendar for success as an entrepreneur so you never miss any tax deadlines and why it’s so important to have all of the important tax dates outlined. 

Join me in this episode to find out how you can grab my calendar filled with important tax dates so you can stay prepared for tax season!

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Tax Calendar, Tax Planning, tax tips
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money mindset, personal finance, tips
Your Personal Finance Attitude Adjustment
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money mindset, personal finance, tips

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Your Personal Finance Attitude Adjustment

Today, I’m sharing another article I wrote in 2017 for the art blog, Art F City, where I focus on the mindset and the attitude that you need to conquer your personal finances. 

Join me in this episode to learn more about how you can shift your mindset and adjust your attitude when it comes to money and prioritize your financial security. 

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money mindset, personal finance, tips
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money mindset, retirement, saving, investing
Money Cheat Sheet for the Overwhelmed
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money mindset, retirement, saving, investing

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Money Cheat Sheet for the Overwhelmed

Today, I’m sharing an article I wrote where I give a practical financial overview and is a personal finance cheat sheet for anyone feeling overwhelmed with their finances and taxes.  

Listen to this episode to get some finance tips to help you feel more secure as an entrepreneur when it comes to your money.

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money mindset, retirement, saving, investing
podcast
tax tips, BUSINESS LESSON
The Right Step at the Right Time
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tax tips, BUSINESS LESSON

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The Right Step at the Right Time

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. 

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tax tips, BUSINESS LESSON

What are your money concerns? Suggest a blog topic for Hannah here.

podcast Hannah Cole podcast Hannah Cole

1099 vs W2 Income and Why it Matters

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1099 vs W2 Income and Why it Matters

Today on the podcast, I’m going over the key differences between 1099 freelance income and W-2 employee income when filing taxes and how you can simplify your taxes as a self-employed individual. 

Join me in this episode to learn how to file your taxes correctly to avoid penalties and keep your finances simple. 

LISTEN AND SUBSCRIBE HERE

Today on the podcast, I’m going over the key differences between 1099 freelance income and W-2 employee income when filing taxes and how you can simplify your taxes as a self-employed individual. 

 

Join me in this episode to learn how to file your taxes correctly to avoid penalties and keep your finances simple. 

  

Also mentioned in today’s episode: 

  • The main differences between 1099 and W2 income when it comes to taxes 2:30

  • The importance of bookkeeping when you’re self-employed 5:45

  • The importance of keeping records and being prepared for IRS inquiries 14:53

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

Links: 

FREE MASTERCLASS: Make Taxes Easier and Stash an Extra $130k in Your Savings

sunlighttax.com/deductions

Watch the Youtube video version

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