THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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Medical Expense Deductions: When it's Worth Tracking & How
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Medical Expense Deductions: When it's Worth Tracking & How
Have you ever wondered how medical expense deductions work and if you could potentially qualify?
Today, I’m giving you a deep dive into the medical expense tax deduction, including what it is and who qualifies for it so you can know if you have to prepare to keep track of your medical expenses.
Join me in this episode to learn whether or not you qualify for the medical expense deduction and how you can make sure you take advantage of this important tax deduction if you do qualify.
LISTEN & SUBSCRIBE HERE
Have you ever wondered how medical expense deductions work and if you could potentially qualify?
Today, I’m giving you a deep dive into the medical expense tax deduction, including what it is and who qualifies for it so you can know if you have to prepare to keep track of your medical expenses.
Join me in this episode to learn whether or not you qualify for the medical expense deduction and how you can make sure you take advantage of this important tax deduction if you do qualify.
Also mentioned in today’s episode:
Standard vs. itemized deductions 5:17
The maximum deduction for medical expenses 18:23
How to know when it’s worth it to track your medical expenses 21:06
What is medically deductible 27:19
If you enjoyed this episode, please rate, review and share it!
Links:
Register for the free class, How to Thrive in a Recession (When You're Self-Employed)
Get an extra 4 episodes of my most valuable lessons, with email nudges to help you implement, on my private podcast right here.
What Counts As Taxable Income?
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What Counts As Taxable Income?
It’s easy to get confused when it comes to figuring out what you need to report as income on your tax return.
Today, I’m going over some of the most common ways to receive money as an entrepreneur and talking about what actually counts as income in your business so you can be prepared for your taxes.
Join me in this episode to learn more about determining your total income and how you can make sure you report it correctly to the IRS.
LISTEN & SUBSCRIBE HERE
It’s easy to get confused when it comes to figuring out what you need to report as income on your tax return.
Today, I’m going over some of the most common ways to receive money as an entrepreneur and talking about what actually counts as income in your business so you can be prepared for your taxes.
Join me in this episode to learn more about determining your total income and how you can make sure you report it correctly to the IRS.
Also mentioned in today’s episode:
How to know when something is income and when it’s not 9:54
What is the function of the people you serve? 12:16
Should you itemize your tax return? 13:55
If you enjoyed this episode, please rate, review and share it!
Links:
Sign up for Money Bootcamp:
https://www.sunlighttax.com/moneybootcamp2023
3 Tips for Easier Taxes
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3 Tips for Easier Taxes
Today, I’m sharing my 3 quick and easy tips to make taxes easier for you as an entrepreneur.
Join me in this episode to learn how you can eliminate stress around filing your taxes and make sure you get the most out of your income.
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Today, I’m sharing my 3 quick and easy tips to make taxes easier for you as an entrepreneur.
Join me in this episode to learn how you can eliminate stress around filing your taxes and make sure you get the most out of your income.
Also mentioned in today’s episode:
Where you need to focus your energy and attention on 5:35
Customizing your bookkeeping 10:45
Working with softwares and what you need to know 13:27
If you enjoyed this episode, please rate, review and share it!
Links:
Sign up for Money Bootcamp:
Is it Ok to Get a Tax Extension?
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Is it Ok to Get a Tax Extension?
Do you need a tax extension and you’re freaking out about it?
Today, I’m sharing the details about tax extensions for entrepreneurs and what you need to know about filing for an extension before the April tax deadline. I’m also explaining why tax extensions aren’t as bad as you might have thought.
Join me in this episode to learn some of the top reasons you might need a tax extension and how you can file for one.
LISTEN & SUBSCRIBE HERE
Do you need a tax extension and you’re freaking out about it?
Today, I’m sharing the details about tax extensions for entrepreneurs and what you need to know about filing for an extension before the April tax deadline. I’m also explaining why tax extensions aren’t as bad as you might have thought.
Join me in this episode to learn some of the top reasons you might need a tax extension and how you can file for one.
Also mentioned in today’s episode:
The difference between filing and paying 2:33
Reasons for getting a tax extension 6:38
What you need to be aware of when it comes to tax extensions and the tax deadline 11:58
If you enjoyed this episode, please rate, review and share it!
Links:
Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/register
The Home Office Deduction
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The Home Office Deduction
Today, I’m explaining the home office deduction including how you can calculate your own home office deduction when you’re filing your taxes as a creative entrepreneur this upcoming tax season.
Join me in this informative episode to learn a simplified way of calculating this important deduction and how you can make sure you’re getting the most out of it this tax season.
LISTEN & SUBSCRIBE HERE
Today, I’m explaining the home office deduction including how you can calculate your own home office deduction when you’re filing your taxes as a creative entrepreneur this upcoming tax season.
Join me in this informative episode to learn a simplified way of calculating this important deduction and how you can make sure you’re getting the most out of it this tax season.
Also mentioned in today’s episode:
What is a home office? 1:51
Calculating the home office deduction 7:16
Your deductible home office expenses 8:56
Personal vs. business time and how to calculate it 14:00
Calculating mileage when you have a home studio 16:30
If you enjoyed this episode, please rate, review and share it!
Links:
https://www.sunlighttax.com/deductionsguide
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