THE SUNLIGHT TAX BLOG:

Tax and Money Education for Creative People, Freelancers and Solopreneurs

Tax Credits and Law Changes Not to Miss

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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.  

LISTEN AND SUBSCRIBE HERE

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.  

 

Also mentioned in today’s episode: 

  • The Corporate Transparency Act 2:22 

  • An update on contribution limits for tax advantaged accounts 4:26

  • Secure 2.0 Act 5:06

  • Tax laws and charitable donations 6:55

  • Medical expense deductions 10:36

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

 

Links:

 

Episodes Mentioned:

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

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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. 

LISTEN AND SUBSCRIBE HERE

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. 

Also mentioned in today’s episode: 

  • What is the Corporate Transparency Act and why is it a good thing? 2:25 

  • Who needs to comply with this law 5:09

  • New York State and their own version of this law 9:22

  • When to file and how it effects new LLC’s 13:02

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

 

Links: 

https://www.sunlighttax.com/openhouse

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Your Complete Guide to the New Student Loan Forgiveness

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Your Complete Guide to the New Student Loan Forgiveness

In today’s timely bonus episode, I am sharing some information on student loans, the new SAVE program and how this new program can help lower your payments and still lead to student loan forgiveness. 

Join me as I give you all the nitty-gritty details about your student loans including who qualifies for the SAVE program and how you can make sure you sign up for it to take advantage. 

LISTEN AND SUBSCRIBE HERE

In today’s timely bonus episode, I am sharing some information on student loans, the new SAVE program and how this new program can help lower your payments and still lead to student loan forgiveness. 

Join me as I give you all the nitty-gritty details about your student loans including who qualifies for the SAVE program and how you can make sure you sign up for it to take advantage. 

Also mentioned in today’s episode: 

  • What’s different about the SAVE program and what does it include? 3:33

  • Forgiveness of your loan 8:00

  • Who qualifies for the SAVE program 10:12

  • What is the Fresh Start program? 18:00

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

 

Links:

Federal Student Aid website

Waitlist for Money Bootcamp

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LLCs & Why You Need to Separate Your Accounts

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LLCs & Why You Need to Separate Your Accounts

Today, I’m sharing an article I wrote about why it’s so important to keep your personal and business bank accounts separate as an entrepreneur. I’m also sharing information about LLC’s vs. a sole proprietorship and if having an LLC really changes anything during tax time. 

Join me in this episode to hear why mixing your personal and business accounts can hurt your business and to learn more about whether you should switch to an LLC.  

LISTEN AND SUBSCRIBE HERE

Today, I’m sharing an article I wrote about why it’s so important to keep your personal and business bank accounts separate as an entrepreneur. I’m also sharing information about LLC’s vs. a sole proprietorship and if having an LLC really changes anything during tax time. 

Join me in this episode to hear why mixing your personal and business accounts can hurt your business and to learn more about whether you should switch to an LLC.  

Also mentioned in today’s episode: 

  • LLC’s and your taxes 1:09

  • Why your personal and business accounts should be separated 2:19

  • Can you operate as a sole proprietorship or do you need an LLC? 6:04

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

Links:

VVRKSHOP, Paddy Johnson: https://www.vvrkshop.art/

IRS 9 point list for hobby vs business

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The Child Care Tax Credit

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The Child Care Tax Credit

Today, I’m sharing important details about the Child and Dependent Care Tax Credit and how you can use it during the summer months when sending your children to summer camp. 

I’m also talking about the difference between a tax credit and a tax deduction and why a credit is more beneficial to the taxpayer. 

Join me in this episode to learn how you can take advantage of this tax credit and how it can apply to you. 

LISTEN AND SUBSCRIBE HERE

Today, I’m sharing important details about the Child and Dependent Care Tax Credit and how you can use it during the summer months when sending your children to summer camp. 

I’m also talking about the difference between a tax credit and a tax deduction and why a credit is more beneficial to the taxpayer. 

Join me in this episode to learn how you can take advantage of this tax credit and how it can apply to you. 

Also mentioned in today’s episode: 

  • What is the Child and Dependent Care Tax Credit? 1:00

  • Tax credit vs. deduction 6:44

  • What qualifies for this credit and how much can you claim? 9:56

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

Links:

VVRKSHOP, Paddy Johnson: https://www.vvrkshop.art/

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