THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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- Retirement and Future Success 22
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- Tax Deductions for Freelancers and Self-Employed 4
Why Business Deductions Save More Than You Think: Self-Employment Tax: Money School
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Why Business Deductions Save More Than You Think: Self-Employment Tax: Money School
In today’s episode of the Money School Bonus Series, I’m explaining what self-employment tax is, why tax deductions are so important as a creative entrepreneur and how they save you more money than you may think.
Join me in this informative episode to learn the details about self-employment tax and how you can make sure you’re getting the most out of your deductions each year.
Listen & Subscribe Here
In today’s episode of the Money School Bonus Series, I’m explaining what self-employment tax is, why tax deductions are so important as a creative entrepreneur and how they save you more money than you may think.
Join me in this informative episode to learn the details about self-employment tax and how you can make sure you’re getting the most out of your deductions each year.
Also mentioned in today’s episode:
Understanding self-employment taxes 1:23
Tax brackets and what they actually mean 3:44
The average tax rate for self-employed people 6:16
Self-employment taxes explained 10:52
Why you need to be tracking all of your expenses 13:02
Getting the most out of your deductions 22:11
If you enjoyed this episode, please rate, review and share it!
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Receipts & Bookkeeping Demystified: Money School bonus series
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Receipts & Bookkeeping Demystified: Money School bonus series
Receipts. Your tax return. Bookkeeping. In this week’s episode and part of the Money School series, I’m sharing three different systems that you need for your business when it comes to managing taxes so you can get more organized and be less stressed. When you understand the difference between these three things, you will stop wasting time, and you will instantly feel more organized.
LISTEN AND SUBSCRIBE HERE
Receipts. Your tax return. Bookkeeping. In this week’s episode and part of the Money School series, I’m sharing three different systems that you need for your business when it comes to managing taxes so you can get more organized and be less stressed. When you understand the difference between these three things, you will stop wasting time, and you will instantly feel more organized.
I’m also explaining why you might be getting confused as a creative entrepreneur during tax time and how you can take control of your finances with some actionable steps and tools.
Also mentioned in today’s episode:
What are receipts and why are they so important 5:14
Third party verification 8:00
Why bookkeeping is so critical if you’re self-employed 12:35
The difference between bookkeeping and taxes 14:45
Building your own tax spreadsheet 23:00
Understanding the why behind your bookkeeping 25:20
If you enjoyed this episode, please rate, review and share it.
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Itemized vs. Business Deductions: Ending the Confusion
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Itemized vs. Business Deductions: Ending the Confusion
If you’re a creative entrepreneur, you may be confused about itemizing vs business deductions, and whether to itemize or take the standard deduction when you’re filing your taxes.
Today, I’m diving into the details of business deductions and itemizing as a creative, the differences between the two, and exactly how to know if you should be itemizing. I’m also sharing the civic side of taxes and some of the built-in biases that exist within our tax system.
Also mentioned in today’s episode:
Schedule C and who gets to file it 3:09
What are business deductions 6:25
The standard deduction for 2022 12:09
What are itemized deductions 14:25
The difference between itemized deductions and business deductions 22:05
The equity issues behind itemized and standard deductions 23:36
Why the tax code favors home ownership 29:10
Exactly how to know if you itemize 32:40
Links:
LISTEN & SUBSCRIBE ON YOUR FAVORITE PLATFORM
If you’re a creative entrepreneur, you may be confused about itemizing vs business deductions, and whether to itemize or take the standard deduction when you’re filing your taxes.
Today, I’m diving into the details of business deductions and itemizing as a creative, the differences between the two, and exactly how to know if you should be itemizing. I’m also sharing the civic side of taxes and some of the built-in biases that exist within our tax system.
Also mentioned in today’s episode:
Schedule C and who gets to file it 3:09
What are business deductions 6:25
The standard deduction for 2022 12:09
What are itemized deductions 14:25
The difference between itemized deductions and business deductions 22:05
The equity issues behind itemized and standard deductions 23:36
Why the tax code favors home ownership 29:10
Exactly how to know if you itemize 32:40
If you enjoyed this episode, please rate, review and share it.
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Mileage: The Best Tax Deduction You're Missing
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Mileage: The Best Tax Deduction You're Missing
Today, I’m talking about one of the best tax deductions you should be taking as a creative entrepreneur and one that often gets missed: the mileage deduction.
In this episode, I explain why you should track business mileage for your taxes and how to get the most out of this tax deduction. I’m also sharing some easy, actionable steps for you to get started with keeping track of your mileage today.
LISTEN & SUBSCRIBE HERE
Today, I’m talking about one of the best tax deductions you should be taking as a creative entrepreneur and one that often gets missed: the mileage deduction.
In this episode, I explain why you should track business mileage for your taxes and how to get the most out of this tax deduction. I’m also sharing some easy, actionable steps for you to get started with keeping track of your mileage today.
You can get a 20% discount on MileIQ using this code: HCOL124A This is an affiliate link, but I want you to know that I use MileIQ in my own business, because I think it’s the best one.
Also mentioned in today’s episode:
The two different ways you can take mileage deduction 3:04
Why mileage can be such an awesome tax deduction for entrepreneurs 5:55
How to make keeping track of your mileage easy 6:39
Keeping track of your mileage in 2022 8:58
Actionable tips for getting started with mileage today 10:05
If you enjoyed this episode, please rate, review, and share it!
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10 things I've learned doing artists' taxes
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What I've Learned from Doing Artists' Taxes
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