THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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Don't Forget These Deductions: Cell Phone and Internet
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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.
Listen and Subscribe Here
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.
How to Deduct Business Travel
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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.
LISTEN AND SUBSCRIBE HERE
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.
Also mentioned in today’s episode:
Mixing personal elements with business travel and how to deduct properly 8:05
The 4 qualifications for deducting foreign travel costs 17:40
Deducting travel costs for inspiration without getting audited 27:15
If you enjoyed this episode, please rate, review and share it!
Links:
Right Back to It, Waxahatchee featuring MJ Lenderman
Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc
Startup Expenses: A Perk for Your New Business
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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.
LISTEN AND SUBSCRIBE HERE
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.
Also mentioned in today’s episode:
What are startup expenses 8:00
What’s included in the startup expenses according to the IRS 10:05
When can you deduct your expenses on your taxes 12:30
If you enjoyed this episode, please rate, review and share it!
Links:
More Sunlight episodes to help you start your business:
Episode 20: Pricing and Business Lessons
Episode 44: S Corp Mistakes That will Cost You Thousands
Episode 50: The One Thing You Must Do in Your Business
Episode 67: Your Business Already Started
Episode 68: The Right Step at the Right Time
Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc
Insider Deduction Tips
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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.
LISTEN AND SUBSCRIBE HERE
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.
Also mentioned in today’s episode:
Advertising and why website hosting fee’s go there 3:00
2 common categories where tax preparers may dump expenses without proper documentation 5:20
How to avoid an audit when it comes to listing your deductions 12:40
If you enjoyed this episode, please rate, review and share it!
Links:
How to Deduct Fees, Bandmate Payouts and Gallery Commissions
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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.
LISTEN AND SUBSCRIBE HERE
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.
Also mentioned in today’s episode:
Reporting gallery commissions on your taxes 12:54
How income and taxes work for musicians being paid out for performances 14:54
When you need a 1099 issued 17:00
If you enjoyed this episode, please rate, review and share it!
Links:
Get your free Deductions Guide: https://www.sunlighttax.com/deductionsguide
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