Sunlight

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 this episode: 00:00 Understanding Tax Obligations for Self-Employed Individuals 10:36 What Counts as Income: Key Definitions and Examples 16:39 Clarifying Non-Taxable Income: Gifts, Loans, and More If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp

Do you feel overwhelmed, fearful, or even judged when it comes to your taxes and finances? In today's episode of the Sunlight Tax Podcast, I'm diving into the mental load of financial fear, specifically the stress that comes with managing taxes, saving for retirement, and planning financially as a self-employed or creative entrepreneur. We'll explore how this hidden anxiety can weigh down your creative energy and limit your impact. If you've ever felt disorganized or anxious about money, tune in to learn practical ways to overcome that fear, get organized, and become financially confident as a creative entrepreneur.   Also mentioned in this episode: 01:45 The Mental Load of Taxes 06:51 Overcoming Fear and Anxiety Around Finances 13:25 Building a System for Financial Ease   If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp  

In this episode of the Sunlight Tax Podcast, I share when it makes sense to hire a professional accountant versus handling your taxes on your own, and why understanding your taxes is so important, especially during life changes like getting married, relocating, or experiencing major income shifts.   I dive into essential tax planning strategies for creative entrepreneurs, freelancers, and small business owners. I also break down complex tax situations that often require expert guidance, and explore the pros and cons of using tax software versus working with a tax professional.   Also mentioned in this episode: 00:00 Understanding the Importance of Tax Planning 00:49 When to Hire an Accountant vs. DIY Taxes 05:20 Life Changes and Financial Shifts 11:13 The Value of Tax Planning 15:39 Complex Situations Requiring Professional Help 21:40 Strategic Decisions and Consulting an Accountant 26:28 Empowerment Through Tax Education   Takeaways Even a couple hours of an accountant's time can save you money. There is no tax education in this country, which complicates things. Basic education in taxes can empower you to handle them yourself. Big life changes are a good time to consult with an accountant. Tax planning can save you a lot of money and headache. Consult a professional before significant financial decisions. Tax returns typically do not include tax planning services. Year-end tax planning is crucial for maximizing savings. Understanding your taxes is important for financial literacy. Using software like TurboTax can be effective if you know the rules.   If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp

In this episode, I break down the essentials of self-employment tax and explore how forming an S Corporation can unlock valuable tax benefits. I walk through key tax strategies, what makes an S Corp worth considering, and why understanding state regulations matters for self-employed entrepreneurs like us. I also highlight how strong bookkeeping, proper payroll, and strategic financial planning help protect your business income and maximize your tax return. If you're navigating entrepreneurship and want to keep more of what you earn, this episode offers practical, real-world guidance.   Also mentioned in this episode: 00:00 Understanding Self-Employment Tax 03:25 The Benefits and Risks of S Corporations 06:20 Criteria for Forming an S Corporation 11:55 Navigating State Regulations and Compliance   Takeaways Self-employment tax is 15.3% for self-employed individuals. An S Corporation can help save on self-employment taxes if criteria are met. Forming an S Corp requires running payroll and compliance with employment laws. You cannot undo an S Corp election for five years. Check state regulations as some may tax back S Corp benefits. Consistent profit over $60,000 is a key criterion for forming an S Corp. Bookkeeping is essential when operating as an S Corp. Having more money than time indicates readiness for an S Corp. Professional guidance is crucial when forming an S Corp. Be cautious of advice from unlicensed sources regarding taxes.   If you enjoyed this episode, please rate, review and share it!  Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp

In this episode of the Sunlight Tax podcast, I dive into the essentials of choosing the right business structure for anyone in self-employment, especially when it comes to forming an LLC or electing S-Corp status. I highlight why it's important to avoid unnecessary business formations and walk you through the proper order of business operations—reminding you that your business officially begins the moment you start advertising. I also share practical tax advice, including how different structures impact your taxes, and offer tips on bookkeeping and protecting yourself with liability insurance. Whether you're a new entrepreneur or already deep into running your business, this episode will help you assess your needs and make confident decisions about your structure. Understanding your options as a self-employed business owner can save you time, money, and headaches down the road. Also mentioned in this episode:   00:00 Understanding Business Structures: LLCs and S-Corps 04:02 Order of Operations in Business 09:58 The Role of LLCs in Business 12:20 Understanding S Corporations 19:00 Final Thoughts on Business Structure and Operations   If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp

In this episode, I'm diving into the essentials of bookkeeping specifically for small business owners who want to take control of their finances without the overwhelm. I break down accounting basics like the difference between financial accounting and tax accounting, and I explain when (and if) you actually need audited financial statements. We'll talk about how to simplify your DIY bookkeeping process, stay on top of your taxes, and make tax preparation less stressful.    If you're a small business owner, freelancer, or creative entrepreneur looking for practical tips on bookkeeping, taxes, and staying organized, this episode is packed with everything you need to build confidence and clarity around your money.   00:00 Understanding Bookkeeping for Small Businesses 00:52 The Role of Bookkeeping in Small Business 13:14 Navigating Tax Accounting vs. Financial Accounting 16:34 Creating a Simple Spreadsheet System 19:23 Tracking Deductions and Expenses Effectively 22:41 Building a Sustainable Financial Future   If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp  

In this episode of the Sunlight Podcast, I'm unpacking some of the biggest myths I hear about forming an LLC. If you're self-employed or thinking about business formation, it's so important to understand what an LLC really is—and what it isn't. I talk through common misconceptions about taxes, liability protection, whether an LLC makes you a “real” legal entity, and how much ongoing accounting or paperwork is actually needed. I also share why business insurance is still essential (yes, even if you have an LLC), and how good financial advice can help you make smart choices for your business. Plus, I give a sneak peek at my upcoming book, Taxes for Humans, where I go even deeper into LLCs, business structures, and all the stuff no one teaches you when you become self-employed.   00:00 Introduction to LLC Myths 04:43 Myth 1: LLCs Change Your Taxes 08:28 Myth 2: LLCs Make Your Business Official 10:25 Myth 3: LLCs Are the Only Protection 13:12 Myth 4: LLCs Are Set It and Forget It   If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. My On-demand class: Make Taxes Easier and Stash an Extra $152k in Your Savings Check out my program, Money Bootcamp

In today's episode of the Sunlight Podcast, I'm sharing why it's so important to review your tax return—even after you've filed. We'll also chat about the power of taking a digital detox during the busy tax season to help you reset and recharge. I'll walk you through how to understand the key sections of your tax return, what tax estimates really mean, and how to reconcile what you owed with what you paid. Plus, I'm offering some simple, practical strategies for adjusting your future payments if your income changes—so you can feel more confident, prepared, and in control come tax time. Whether you're self-employed or just trying to make sense of your finances, this episode is here to support you! Also mentioned in today's episode:  00:00 Digital Detox: A Refreshing Break 02:02 Post-Tax Filing: Key Steps for Improvement 07:16 Understanding Your Tax Return: Key Insights 12:07 Adjusting for Future Taxes: Strategies for Success 15:43 Resources for Tax Management: Programs and Support   Takeaways Digital detox can improve mental clarity during tax season. Reviewing your tax return is crucial for financial planning. Understanding your tax return helps avoid future whammies. Taxes are retroactive; you only know your tax rate after the year ends. Your total tax owed is reconciled with what you've paid throughout the year. Aim to have your tax payments equal your total tax owed. Adjust your estimated taxes based on income fluctuations. Self-employed individuals must be proactive with tax payments. Utilizing tax programs can simplify the filing process. Seek help from tax education programs for better understanding.   If you enjoyed this episode, please rate, review and share it!  Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.   Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. My On-demand class: Make Taxes Easier and Stash an Extra $152k in Your Savings Check out my program, Money Bootcamp Sunlight Podcast Episodes about Quarterly Taxes: Two Myths About Quarterly Taxes Avoid a Tax Bill: How to Start Estimated Quarterly Taxes How to Pay Quarterly Taxes When Your Income Changes

Has calculating your income tax rate in the past been overwhelming? Today, I'm going to discuss the complexities of income tax rates, particularly for self-employed individuals. I explain the progressive tax system, the difference between marginal and average tax rates, and provide practical tips for calculating taxes accurately. The conversation aims to demystify tax calculations and empower listeners with knowledge to manage their finances effectively. 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.    Also mentioned in today's episode:  00:00 Understanding Income Tax Rates 09:33 The Progressive Tax System Explained 11:58 Marginal vs. Effective Tax Rates 17:04 Calculating Your Taxes Accurately 23:20 Final Thoughts and Resources Takeaways: People confuse marginal tax rates with their actual tax rate. Income tax calculations are more complex than they seem. Self-employment tax is a flat rate of 15.3%. Estimating tax rates requires guessing due to timing. Graduated income tax means different rates apply to different income slices. Both low and high earners pay zero tax on the first $11,000. Marginal tax rates only apply to the last dollar earned. Average tax rates provide a more accurate tax estimate. Online calculators can simplify tax calculations. Self-employment tax should not be double counted in estimates.   If you enjoyed this episode, please rate, review and share it!  Every review makes a big difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.   Links: Get your FREE Deductions Guide

Today, I'm providing some practical advice on filing a tax extension and how you can do it without getting a penalty. I'm also talking about the importance of relationships in career success as an artist, especially in a world increasingly influenced by AI.   Join me in this episode to learn how you can file a tax extension properly and why you need to be focusing on building relationships in your art career.    Also mentioned in today's episode:    The importance of relationships in career success 2:40 Understanding tax extensions 14:10   If you enjoyed this episode, please rate, review and share it!  Links:   Free class for artists: Make Art Anyway: Your 2025 Show Strategy  File an extension request here Make your extension payment here        

In today's episode, I'm talking about some of the common tax fears I see entrepreneurs encounter and giving you strategies on how you can reduce your tax-related anxiety and feel prepared for tax season.    Join me in this important episode to hear my framework that can help demystify the tax process and make managing your taxes less stressful and more straightforward.   Also mentioned in today's episode:    Understanding audits and the statute of limitations 3:34 Following tax rules and self-reporting 7:52 Reducing tax fear through education 9:30   If you enjoyed this episode, please rate, review and share it!  Links: Link to deductions guide Link to Money Bootcamp   Podcast episode links: The Home Office Deduction Can a Massage Therapist Deduct Massages? Education Expenses Explained Don't Forget These Deductions: Cellphone and Internet Don't Forget These Deductions: Parking and Tolls Mileage: The Best Deduction You're Missing How to Deduct Fees, Bandmate Payouts and Gallery Commissions How to Deduct Business Travel How to Deduct Business Meals When You're Self-Employed

In today's episode, I'm chatting about the impact of the Trump administration and why I think doing a tax protest is a counterproductive method of political dissent. I'm also giving you some ideas for effective ways you can influence policy if you're looking to make a difference.   Join me to learn how you can channel your political energy and exercise political power through engagement rather than breaking the law.   Also mentioned in today's episode:    Effective ways of political engagement 7:50 Consequences of a tax protest 9:10 Alternative channels for political protest 16:55   If you enjoyed this episode, please rate, review and share it!    Links: FREE LIVE CLASS- https://go.sunlighttax.com/free

Today, I'm talking about how you can use the pain of getting a large tax bill and turn it into an opportunity for financial growth, including funding for your retirement savings and maxing out your IRA contributions.    Join me in this episode to learn how you can transform your current financial challenges into an opportunity for improvement and how you can make sure you are financially secure.    Also mentioned in today's episode:    Challenges for not paying quarterly taxes 9:52 Financial anxiety and economic security 12:34 Using your current financial situation as a motivator 18:32   If you enjoyed this episode, please rate, review and share it!  Links: On-demand class on Making Taxes Easier/Best Deal on my program, Money Bootcamp  

Today, I'm talking about the importance of estimated quarterly taxes if you're self-employed and how you can use the Safe Harbor rule, to help make an accurate tax estimate if your income is different this year from last year.    Join me in this episode to learn how you can avoid tax penalties and large tax bills by estimating your quarterly taxes as accurately as possible.    Also mentioned in today's episode:    What is the Safe Harbor Rule? 2:20 Paying your quarterly taxes based on current year income 9:10 The benefits of paying quarterly taxes 13:00   If you enjoyed this episode, please rate, review and share it!  Links:   On-demand class on Making Taxes Easier/Best Deal on my program, Money Bootcamp

In today's episode, I'm talking about the importance of paying your quarterly taxes as a business owner and how you can start paying them now, even if you've missed them in the past. I'm also giving an update on the Beneficial Ownership Information Report and how you can get yours done.    Join me in this important episode to get all the tips you need to start paying your quarterly taxes so you can avoid getting any large tax bills.    Also mentioned in today's episode:    Steps to file a BOI report 5:30 Calculating your estimated quarterly tax payments 10:39 Addressing income variations and future adjustments 12:15   If you enjoyed this episode, please rate, review and share it!  Links: Free Class on Making Taxes Easier, On-Demand Free Mini Course for LLCs, File Your BOI Report 

  Today, I'm chatting about another commonly missed tax deduction for self-employed individuals: parking and tolls. I'm diving into how tolls and parking should be tracked separately and added to the car expense category on tax schedules so you can get the deduction you deserve.   Join me in this episode to get some practical tips on how to easily track your parking and toll expenses for this upcoming tax season.    Also mentioned in today's episode:    Tracking parking and tolls separately from mileage 2:26 Methods for tracking car expenses 2:44 Practical tips for maximizing your deductions 4:30   If you enjoyed this episode, please rate, review and share it!  Links: Sunlight episode on tracking mileage deduction   Save your seat for the free class, Make Taxes Easier and Stash an Extra $152k in Your Savings    

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.

In today's episode, I'm chatting about the common confusion around tax deductions for home offices or studios, including what you can and cannot deduct as an entrepreneur. I'm also explaining how discrepancies between bookkeeping and tax deductions for a home office are normal and expected.    Listen to this episode to get a better understanding of how to maximize your home office and studio deductions.    Also mentioned in today's episode:    The criteria for home office deductions 2:35 How you can calculate your home office deductions 6:50 Direct expenses and quarterly tax payments 8:20   If you enjoyed this episode, please rate, review and share it!  Links:    Visual Guide to Tax Deductions   Check out my program, Money Bootcamp.

Today, I'm talking about the importance of understanding and managing your estimated quarterly taxes as a self-employed individual and addressing some of the common fears associated with making estimated payments.    Join me in this episode to learn how you can set up your quarterly payments to avoid a large tax bill and the stress that comes along with it.    Also mentioned in today's episode:    How quarterly taxes 10:04 Common mistakes and reporting issues 10:30 Reconciliation and tax return process 10:45    If you enjoyed this episode, please rate, review and share it!  Links:   Check out my program, Money Bootcamp.

  Today, I'm talking about the common problem of receiving an incorrect 1099 as an entrepreneur, including what you need to look for and how you can make the corrections to avoid any problems with filing your taxes.    Join me in this episode to get all of the details needed for correcting any 1099s that may have errors and what you can do to avoid any issues with filing.    Also mentioned in today's episode:    Steps to correcting a 1099 6:30  Handling discrepancies in 1099s 12:10  Reimbursed expenses and 1099 reporting 14:47   If you enjoyed this episode, please rate, review and share it!  Links: Farnoosh Torabi's Book to Brand conference in NYC   My quick, easy 1099s course Check out my program, Money Bootcamp.

Have you been wondering what's going on with the Corporate Transparency Act? Today, I'm diving into the newest update of the Corporate Transparency Act and Beneficial Ownership Information Report, including what you need to do as an entrepreneur to stay proactive.   Listen to this episode to get your up-to-date information on BOI Reporting and how you can make sure you avoid any penalties that may pop up.    Also mentioned in today's episode:    Impact on small LLC's 3:30 Legal challenges and court rulings 4:08 Recommendations for business owners 9:41   If you enjoyed this episode, please rate, review and share it!  Links:   Free Mini-Course on New Rules for LLCs/BOI Report   Check out my program, Money Bootcamp.

Today, I'm going over the importance of issuing 1099 forms if you're self-employed, including who needs to receive them, the deadlines and penalties involved if you miss it.    Tune into this episode to get an understanding of the 1099 process and to get strategies to simplify issuing 1099s, so you can stay organized and avoid any penalties.    Also mentioned in today's episode:    Types of 1099 forms and their uses 5:30 Who needs a 1099 and who doesn't 6:56 Action checklist for issuing 1099s 19:00   If you enjoyed this episode, please rate, review and share it!  Links:   Blank W9 for you   My course on issuing 1099s Check out my program, Money Bootcamp.

Today, I'm giving you a comprehensive January checklist to help organize your taxes if you're self-employed so that you can have a headstart on your taxes for 2025.     Tune in to this episode to get a strong start to the tax year and put systems in place to simplify your tax preparation process.   Also mentioned in today's episode:    Why you should check your odometer now 2:11 Issuing 1099's and estimated tax payments 6:48 Maintaining business bank accounts and receipts 10:45   If you enjoyed this episode, please rate, review and share it!  Links: Check out my program, Money Bootcamp.  

In this debut episode of 2025, I'm going over some of the new 2025 tax law changes, how they might affect you as an entrepreneur and how you can prepare for these changes.    Join me today to learn how you can make sure you get a head start on these upcoming tax changes.    Also mentioned in today's episode:    Mileage tracking 1:52 Secure 2.0 Act and retirement contributions 5:44 1099-K changes 9:49   If you enjoyed this episode, please rate, review and share it!  Links: FREE LIVE CLASS  Make Taxes Easier and Stash an Extra $152k in Your Savings:  https://go.sunlighttax.com/free  

Today, I'm talking about the importance of preparing for tax season specifically when it comes to issuing 1099 forms, including when you need to issue one and the deadline.    Join me in this episode to learn how and when you need to obtain your W9 forms and issuing your 1099's from your contractors.    Also mentioned in today's episode:    1099 requirements 4:10 Compiling contractor payments 4:43 Gathering W9 forms 6:50 Preparing for 1099 issuance 9:53   If you enjoyed this episode, please rate, review and share it!  Links: FREE LIVE CLASS  Make Taxes Easier and Stash an Extra $152k in Your Savings:  https://go.sunlighttax.com/free

In today's episode, I'm talking about the importance of understanding the April 15 tax deadline, which serves as a triple deadline for self-employed individuals and giving you some tips on how you can be prepared.    Join me in this episode to learn how you can avoid financial stress and plan ahead to have the necessary funds for the April 15th deadline.   Also mentioned in today's episode:    The triple deadline of April 15 2:05 The importance of funding your IRA 5:15 Budgeting for tax payments and IRA funding 7:55 Practical tips for tax planning 15:18   If you enjoyed this episode, please rate, review and share it!  Links: A good online income tax calculator Episode 30: Estimated Quarterly Taxes: Breaking it Down Episode 31: Estimated Quarterly Taxes: How to Calculate Your Payments

Today, I'm continuing my series about year-end tax saving tips and talking about charitable contributions and their tax implications for self-employed individuals including strategies for maximizing your charitable contributions.    Listen to this episode to get all the information you need to maximize your charitable donations and to learn the tax limitations of donating your creative work.     Also mentioned in today's episode:    Itemized deductions vs. standard deductions 2:30 Strategies for maximizing your charitable contributions 12:44 Donating creative work and tax implications 15:03   If you enjoyed this episode, please rate, review and share it!  Links: Qualified tax exempt organization search Mutual Aid: All the Tax Info You Need    

Today, I'm continuing my series about year-end tax saving tips and giving you some strategies on how you can maximize your tax deductions as an entrepreneur using business expenses.    Join me in this informative episode to learn how you can prioritize your bookkeeping and accelerate your expenses to make sure you get the most out of your tax deductions this upcoming year.    Also mentioned in today's episode:    The importance of bookkeeping 2:25 Expense acceleration tips 14:14 Year end spending recommendations 21:46   If you enjoyed this episode, please rate, review and share it!  Links: Free mini-course on the new LLC report  

Today, I'm continuing my series about year-end tax tips and discussing why it's so important to contribute to tax-advantaged retirement accounts. I'm diving into the differences between 401k's, traditional and Roth IRAs, as well as the SEP IRA option for self-employed individuals.   Join me in this important episode to learn how you can maximize your tax savings and retirement contributions.   Also mentioned in today's episode:    401k and 403b accounts 4:43 IRA contribution limits and tax benefits 7:13 Deadlines and contribution strategies 9:38   If you enjoyed this episode, please rate, review and share it!    Links: IRA income caps Free Class: https://go.sunlighttax.com/free  

  Today, I'm chatting about healthcare related year-end tax planning strategies that you can use to save money if you are self-employed. I'm diving into the differences between Flexible Spending Accounts and Health Savings Accounts including the benefits and how you can maximize your contributions.   Join me in this episode to learn how you can make sure you're making the most of your healthcare savings as the end of the year approaches.     Also mentioned in today's episode:    Flexible Spending Accounts 5:50 Health Savings Accounts 9:10  Maximizing your HSA benefits 16:05   If you enjoyed this episode, please rate, review and share it!  Links: Join my Program: https://www.sunlighttax.com/moneybootcampimpact

Today, In the wake of the election, I'm sharing my personal recipe for maintaining your mental health during tough political times and emphasizing the importance of taking care of your basic needs. I'm also talking about how you can focus on finding joy in the small moments and connecting with loved ones, rather than getting caught up in the negativity of social media and constant news consumption.   Join me in this important episode to learn how you can make sure you're prioritizing your mental health and how you can make a difference in local elections.     Also mentioned in today's episode:    Focusing on something you can control 6:36 Finding joy in the small things and turning to the arts 11:44 Increasing political engagement and reducing news intake 25:03   If you enjoyed this episode, please rate, review and share it!  Links: https://podcasts.apple.com/us/podcast/the-weekly-show-with-jon-stewart/id1583132133?i=1000676185735 Join my Program: https://www.sunlighttax.com/moneybootcampimpact

In today's episode, I'm going over the IRS benefits for those affected by federally declared disasters and highlighting the automatic qualification for disaster relief, including filing and payment extensions, and the option to file an amended return.   Join me to learn about the various IRS tax benefits and relief measures available to you if you're ever impacted by a federally declared disaster.   Also mentioned in today's episode:    Casualty losses and amended returns 7:55 Disaster declaration numbers and deadline extensions 11:53 Non-taxable disaster relief payments 15:44   If you enjoyed this episode, please rate, review and share it!  Links:   tax return preparation options Eligible individuals or families can get free help preparing their tax return at Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) sites. To find the closest free tax help site, use the VITA Locator Tool or call 800-906-9887. Note that normally, VITA sites cannot help claim disaster losses. To find an AARP Tax-Aide site, use the AARP Site Locator Tool or call 888-227-7669. Any individual or family whose adjusted gross income (AGI) was $79,000 or less in 2023 can use IRS Free File's Guided Tax Software at no cost. There are products in English and Spanish. Another Free File option is Free File Fillable Forms. These are electronic federal tax forms, equivalent to a paper 1040 and are designed for taxpayers who are comfortable filling out IRS tax forms. Anyone, regardless of income, can use this option. MilTax, a Department of Defense program, offers free return preparation software and electronic filing for federal tax returns and up to three state income tax returns. It's available for all military members and some veterans, with no income limit. Ways to help WNC Relief efforts: 1. Emergency Relief Fund Grants for Artists 2. The WNC Strong: Rebuilding Together Grant for grant aid to help local WNC businesses survive and rebuild 3. The Sunlight Tax Paypal mutual aid fund. 100% of donations will be given to people I know and love and who need it 4. Love Asheville from Afar: links to WNC businesses that have inventory and would love your support. Please consider Asheville and WNC businesses as you send gifts this fall and for the holidays.        

Today, I'm discussing the tax implications of mutual aid funds and how it relates to the context of Hurricane Helene's impact here in Western North Carolina with the creation of paypals and fundraisers for donations.    Join me in this important episode to learn how to handle the tax side of mutual aid and how to make sure you're staying on the right side of the IRS.     Also mentioned in today's episode:    The importance of documenting gifts with written proof 3:45  Offsetting tax liability 7:29 Charitable donations and itemized deductions 12:48    If you enjoyed this episode, please rate, review and share it!  Links:   Emergency Relief Fund Grants for Artists The WNC Strong: Rebuilding Together Grant for grant aid to help local Businesses survive and rebuild: https://www.mountainbizworks.org/helene/donate For Sunlight Tax Mutual Aid donations. I will donate 100% of these funds directly to people in need.      

Today, I'm diving into the topic of Sales Tax vs. Income Tax and emphasizing why it's so important for you to know the difference.    Join me in this episode, to learn more about the differences between sales tax and income tax and how it can affect you as an entrepreneur.     Also mentioned in today's episode:    The main differences between sales tax and income tax 11:13 Registration and filing requirements 13:49 Sales tax filing process 16:00   If you enjoyed this episode, please rate, review and share it!  Links:   The WNC Strong: Rebuilding Together Grant for grant aid to help local Businesses survive and rebuild: https://www.mountainbizworks.org/helene/donate   For Sunlight Tax Mutual Aid donations. I will donate 100% of these funds directly to people in need. Emergency Relief Fund Grants for Artists Join my Program: https://www.sunlighttax.com/moneybootcampimpact      

In today's episode, I'm sharing the importance of disaster preparedness, and giving you some of the lessons I learned from living through Hurricane Helene so you can be prepared for your own potential disaster.    Join me in this short and important episode to learn what you need to have and do, to be ready for a natural disaster.    Also mentioned in today's episode:    Over preparation and document safety 2:27 Emergency supplies you need to have on hand 6:40 Device charging and water preparedness 9:50   If you enjoyed this episode, please rate, review and share it!  Links: Join my Program: https://www.sunlighttax.com/moneybootcampimpact Hannah's Paypal: https://www.paypal.me/hannahcole1779  If you want to help the people here, you can donate to the links at the bottom of Arts AVL page    

Today, I'm sharing an episode of a podcast I recorded for my friend and fellow artist Paddy Johnson's podcast Art Problems, where I talk about the severe impact Hurricane Helene has had on my town of Asheville, North Carolina. I'm also sharing some important information on how you can help.     Also mentioned in today's episode:    Details of the studio flooding 5:19 Initial flood observations 11:13 Post flood challenges and community impact 30:00   If you enjoyed this episode, please rate, review and share it!  Links: Hannah's Paypal: https://www.paypal.me/hannahcole1779   Asheville Tea Company,  Melissa Weiss pottery,  The Autrys (food stylists)  New Stock Pantry,  If you want to help the people here, you can donate to the links at the bottom of Arts AVL page    

  Today, I'm giving you a life update from my home in Asheville, North Carolina after suffering from the devastation of Hurricane Helene. In this episode, I'm also providing some different ways that you can help people directly here in Asheville.      Also mentioned in today's episode:    Hurricane Helene and the effects 1:52 Challenges and community spirit 3:10 My gratitude and how you can help 4:30    If you enjoyed this episode, please rate, review and share it!  Links: Hannah's Paypal: https://www.paypal.me/hannahcole1779   Asheville Tea Company,  Melissa Weiss pottery,  The Autrys (food stylists),  New Stock Pantry,  If you want to help the people here, you can donate to the links at the bottom of Arts AVL page    

Today, I'm talking about the emotional and psychological challenges of navigating money as a self-employed individual and sharing my own personal experiences with money mindset struggles while giving you some tips on how you can push past these mindset blocks.    Join me in this episode to learn the 3 keys on how to shift your mindset away from thinking negatively about money and gain some practical advice on how to improve your money skills.   Also mentioned in today's episode:    Setting boundaries and overcoming guilt 2:30 Understanding the neutrality of money 11:40 The 3 keys to shifting your money mindset 19:10   If you enjoyed this episode, please rate, review and share it!  Links: My program: Money Bootcamp.  

Today, I'm Discussing the balance between passion and monetization in creative work and some of the themes of patriotism and optimism that I identify with in the Harris Walz campaign, including how it relates to civics.     Join me in this episode to learn about some of the benefits of the U.S. tax code for small businesses and why civics is so important.  Also mentioned in today's episode:    Balancing value and money in your creative work 6:10 The role of patriotism and civics in democracy 8:54 Benefits of small business in the economy 16:37   If you enjoyed this episode, please rate, review and share it!  Links: Join the free class Marissa Molinar, Midday Movement series Laura Wood Sculptural Jewelry Cara Bean, Here I am, I am Me: An Illustrated Guide to Mental Health      

In today's episode, I'm chatting about the common cycle of pain self-employed individuals face during tax season and how tax preparation services often lack the education necessary to break this cycle.   Join me today to learn how you can implement systems that can help you avoid large, unexpected tax bills and penalties going forward.    Also mentioned in today's episode:    The cycle of pain: the initial challenges 4:12 Surprise tax bill and its consequences 4:50 Breaking the cycle of pain with simple systems 10:25   If you enjoyed this episode, please rate, review and share it!  Links: Register for the free class, Make Taxes Simple and Stash an Extra $130k in Your Savings.        

Today, I'm giving you a short and sweet episode where I discuss the confusion surrounding the term "corporation" in tax and business contexts and explain how the word can be used differently depending on who is using it.     Join me in this episode to get some clarification on the term “corporation” and how it relates to you as a business owner.    Also mentioned in today's episode:    Understanding the confusion around the word “corporation” 1:10 Clarifying the tax structures of small businesses 3:11 The role of LLC's 6:36   If you enjoyed this episode, please rate, review and share it!  Links: Register for the free class, Make Taxes Simple and Stash an Extra $130k in Your Savings.    

In today's episode, I'm talking about the importance of understanding investing fees and sharing some of the free resources and tools available that you can use to learn about investing principles and spot potential scams.    Join me to learn more about investing and the long-term impact that fees can have on your investment return.    Also mentioned in today's episode:    The importance of diversification 5:20 My personal investment strategy 5:50 The impact of investment fees 12:26 Investor.gov and free resources available 19:00 If you enjoyed this episode, please rate, review and share it!  Links: Take the investing quiz  Use the compound interest calculator John Bogle (inventor of index funds) on fees Come to the Money Bootcamp Open House          

Today, I'm discussing the benefits of investing for small business owners and historically marginalized groups, highlighting lower tax rates and talking about why it's so important to invest for personal financial growth.   Listen to this value-packed episode to learn the best ways you can start investing today.    Also mentioned in today's episode:    Why investing is advantageous due to tax rates 13:23 Ethical investing 15:26 Tax advantages of investing 17:28 If you enjoyed this episode, please rate, review and share it!    Links: Register to vote or check your registration status Free class where I teach about compound interest Money Bootcamp Open House          

Today, I'm sharing my personal experience using a commercial tax software, Tax Slayer, and highlighting some of the limitations and lack of transparency I observed. I'm also chatting about some of my frustrations and the unethical practices I saw while using the program.     Join me in this episode, to hear my tax filing experience and why I think it's so important to have a tax education.    Also mentioned in today's episode:    Some of the mistakes I encountered with Tax Slayer 5:06 Unexpected fees and unethical practices 9:49 Why tax education is so important to reduce confusion 15:44 If you enjoyed this episode, please rate, review and share it!  Links: IRS Direct File Program Register for my Money Bootcamp Open House    

Today, I'm talking about the importance of a positive mindset and budgeting for financial well-being, including why you should prioritize having a personal finance education.    Join me in this episode to hear more about how you can prepare your finances by cutting your non-essential spending and making your savings a top priority.    Also mentioned in today's episode:    Keeping track of what you spend 5:27 Prioritizing your financial savings first 7:40 When you should cut your spending 8:23 If you enjoyed this episode, please rate, review and share it!  Links: Money Bootcamp link  Free class, Make Taxes Easier and Stash an Extra $130k in Your Savings    

In today's episode I'm sharing some insights on managing your finances as a creative entrepreneur, and emphasizing the importance of an emergency fund, financial knowledge, and how you can avoid financial disaster.    Join me today to hear some basic steps to control your finances and how you can start investing today.    Also mentioned in today's episode:    Why you need an emergency fund 4:30 How health insurance and life insurance can help avoid financial disaster 5:50 Considering risk tolerance and timeline when investing 10:28 If you enjoyed this episode, please rate, review and share it!  Links: Check out my program, Money Bootcamp.  

Today, I'm diving into emergency funds and sharing why it's so important to have an emergency fund as a freelancer or a creative. I'm also giving you some quick tips on how you can prioritize your personal finance so you can start saving money for any unexpected emergencies today.   Join me in this info packed episode to learn how much money you should have saved and the best way to save it.   Also mentioned in today's episode:    Why the money should be accessible and liquid 8:30 How much money you should have saved for emergencies 10:10 If you enjoyed this episode, please rate, review and share it!  Links:  Download this free visual guide to your tax deductions Need the deeper work right now? Check out my program, Money Bootcamp.

Today's episode is the 3rd part of my 3 part series where I'm sharing an article published by ProPublica that exposes some of the unethical practices by Intuit, the maker of TurboTax. The article details how Intuit has waged a 20-year fight against free tax filing through lobbying efforts, internal tactics, and deceptive marketing.    Join me in this 3rd and final part of this series to learn more about how TurboTax has helped prevent the government from creating a free and easy tax filing system.   If you enjoyed this episode, please rate, review and share it!  Links: Inside TurboTax's 20-Year Fight to Stop Americans From Filing Their Taxes for Free, by Justin Elliott and Paul Kiel Oct. 17, 2019 Donate to ProPublica here   

Today's episode is the 2nd part of my 3 part series where I'm sharing an article published by ProPublica that exposes some of the unethical practices by Intuit, the maker of TurboTax. The article details how Intuit has waged a 20-year fight against free tax filing through lobbying efforts, internal tactics, and deceptive marketing.    Join me in the second part of this series to learn more about how TurboTax has helped prevent the government from creating a free and easy tax filing system.   If you enjoyed this episode, please rate, review and share it!  Links: Inside TurboTax's 20-Year Fight to Stop Americans From Filing Their Taxes for Free, by Justin Elliott and Paul Kiel Oct. 17, 2019 Donate to ProPublica here     

Today, I'm starting a 3 part series where I'm sharing an article published by ProPublica that exposes some of the unethical practices by Intuit, the maker of TurboTax. The article details how Intuit has waged a 20-year fight against free tax filing through lobbying efforts, internal tactics, and deceptive marketing.    Join me in this 3 part series to learn more about how TurboTax has helped prevent the government from creating a free and easy tax filing system.     If you enjoyed this episode, please rate, review and share it!  Links: Inside TurboTax's 20-Year Fight to Stop Americans From Filing Their Taxes for Free, by Justin Elliott and Paul Kiel Oct. 17, 2019 Donate to ProPublica here   

In today's episode, I'm talking about the importance of voting and my research into tax policy and deficits and how the rising national debt levels could impact you as a younger voter. I'm also providing tips on using templates and maintaining a schedule to maximize your focus and productivity, especially if you're a writer.    Listen to this important episode to learn how to use templates to save time in your personal life and work.     Also mentioned in today's episode:    The importance of voting in local elections 3:10 History of US debt and the presidents that have run it up 10:40 Using templates to manage correspondence and stay focused 12:55 The importance of maintaining a consistent schedule for productivity 18:50 If you enjoyed this episode, please rate, review and share it!  Links: Fiscal Therapy, by William G. Gale Brand new updated Visual Guide to Tax Deductions   New Visual Guides: Writers' Guide To Tax Deductions Doula/Widwife Guide To Tax Deductions Wellness Practitioner's Guide To Tax Deductions