Podcast appearances and mentions of angela sticca snyder

Do taxes sound daunting to you? It may sound very tedious. But let's face it, you probably didn’t prepare throughout the year. If you haven't done anything to get ready for taxes, in this week's episode, Angela Sticca Snyder explains how you should prepare for taxes. Part One of ‘Getting Ready For Taxes’ The first thing you need to do is gather up all of your tax documents like W2s or 1099s. It's tricky because there's a lot of 1099s. Do you have interest or dividends? Do you have a new investment? A lot of them don't mail out their statements until at least middle to end of February. If they rush out, sometimes they have to be amended, which means you have to get an amended tax return done. “If you get a 1099 miscellaneous, it means it's you're getting paid for services or work you did, but you're not getting taxes withheld.” – Angela Sticca Snyder (05:03-05:12) Try not to rush your investment statement, capital gains, and losses. You might have sold some mutual funds as well. Look at your statements and make sure that there is a cost basis on there. You've got what you sold it for. But always look for a cost basis.  If there's isn’t one there, start looking for it. Call your investment advisor to help you. We've done wages, interest in dividends, and capital gains. Think about student loans and mortgage interest statements. These are all documents that you're going to get in the mail or by email. If you don't get it mailed, don't think you didn't get it. Most financial institutions are having you log in for your documents. They want to get away from snail mail. Do you blame them? If you're older and don't know how to get online, or you don't have an account yet, you might have to reach out to your rep. Just because you don't get a statement, don't assume that you don't have anything to report. Investigate and check it out. Some other statements you might get if you have a Health Saving Account, or HSA. There are usually two documents that come if you have an HSA. Start gathering for it. Remember, it can only be used for medical expenses if you use it for something else. Don't do that again, because then it becomes taxable income to you. Keep any statement that says “important income tax document” or a tax return document. Part Two of ‘Getting Ready For Taxes’ If you have a rental property or if you have a small business, they probably sent you a statement. Make sure you gather up all of your rental income. Any deposit money you receive is not considered income. If you received a first and last month deposit, don't add that to your income because technically it's not yours. Hopefully, they're not going to trash your place, and get it back.  “There's a way to gather up all your business expenses that will make it less difficult.” – Angela Sticca Snyder  If you have to travel to that property, you might want to include that as well. If it's in a different state, gather up all of your rental and your small business expenses. If you get a 1099 miscellaneous, it means you're getting paid for services or work you did, but you're not getting taxes withheld. If you get one of a 1099 miscellaneous and there's income in box seven, then that means you're self-employed. Some people may not think they're self-employed, but they are.    If you have the 1099 miscellaneous, then you're going to need to start organizing your business income and expenses. Maybe you are in an office space, perhaps some travel mileage. All of those things are deductible on your business. Now, with your small business, you need to gather up the total amounts that you've spent throughout the year. You don't want to bring to your accountant a file full of receipts. You'll be charged for having them go through it. It's a good idea for you to go through it yourself. How To Connect Taxanista is a leading certified public accountant who offers reliable professional tax and accounting services. She is a consummate strategist. She loves listening, analyzing and developing strategic plans. Do you have bigger issues? Taxanista can help you fight off the IRS. Angela knows how unsettling some of your struggles may be that’s why she offers private consultations for your business and tax matters. Increase your profit by knowing your numbers. Reach out to her now. https://www.taxanista.com/  

W-2 Vs. 1099 “No receipt, no deduction with the IRS.” -Angela Sticca Snyder  There's a difference between a 1099 and a W2. Most people get W2's. W2 is when you're an employee and you're working for someone else, and they're withholding taxes for you. It's the most common way of getting paid. 1099 on the other hand is when you're doing side work, maybe a gig or some extra work for somebody, or you have your own business and your customers then give you a 1099, that income is not taxed before you receive it. So, when you get your income, it comes to you in a gross format. With that, then you get to write off deductions that go against that income. In this week's episode, Angela Sticca Synder talks about W2 vs. 1099. Part One of ‘W2 vs. 1099’   It is imperative that you save your financial documentation. Credit card statements will not support you in an audit. What you need to have is a receipt that shows what was purchased. So, if you go to a store and they hand you that receipt, you need to make sure you take a picture of it to save it. If you buy something online, set up a folder on your computer that's called invoices or receipts. You want to make sure you have a copy of every item on your tax return. “It’s important to make sure that you report all of your income.” – Angela Sticca Snyder  Now that you're using a 1099 form, you want to make sure that you're keeping track of all expenses involved and carrying out your duties of whatever function you're doing to earn that money. If you're driving for business purposes, then you need to make sure you have a mileage tracking app. That's the second thing that's most important. When you get your 1099 form, there's a lot of good free apps out there. You can turn it on, and it just runs in the background. Technically and legally, you are supposed to have the starting and stopping odometer reading. Also keep track of where you went, who you went to see and the business purpose. Keep your mileage tracked and use an electronic calendar that's got your appointments. Part Two of ‘W2 vs. 1099’ Now if you're audited, you have a backup. If you're organized, do it now. Many business owners have more time to spend on making money than keeping track of this. As long as you've got outstanding support, you'll be fine. With a 1099 form, even if you're a sole proprietor or an LLC, you still report your income and expenses on a schedule C small business form.  It gets filed with your 1040 tax return if you report your gross income. which would be all of the income you received before any expenses. It is crucial that the total gross income on your schedule C at least equals or exceeds the sum of all your 1099. If you have 1099 that's greater than what you're reporting as income, you will automatically receive a notice from the IRS. They have a matching system. If they mismatch and your income reported is last, you'll get a notice.  “Anything that you incur in order to operate your business is deductible.” – Angela Sticca Snyder (4:56-05:02) Once you reported all of your income on schedule C, there are lots of deductions that you can take. Anything that you incur to operate your business is deductible. For instance, things like advertising, marketing, promotion, and anything you're doing to get your name out there. This also includes pins, business cards, or flyers, all that kind of stuff that you are expanding to get people to notice you.    Other expenses that you can incur would be retirement plans. You can set aside money for yourself in retirement: any office expenses or office supplies, your cell phone use, and even your home office. The home office is not the risk it used to be. So, for instance, if you do work out of your house and you have a home office, but you're conservative, or you're unsure, then take the standard home office because you can take that, and it doesn't require any supporting items. Again, the difference between the W2, which is when you're truly an employee and 1099, is that your social security and medicare taxes come out of the W2, and the employer also pays their half. When you get 1099, you report your gross income; you have deductions to come out of your net income, but remember there are no taxes withheld from your 1099.  Since you are considered self-employed, you're both the employee and the employer, so you then pay the self-employment tax, which is 7.65% times two, which is 15.3, so when you're a W2, you pay 7.65, and your boss pays 7.65. When you're self-employed, as a 1099 contractor, you are responsible for both sides. It is possible to have no income tax but have self-employment tax. When you are self-employed, you will always have a balance due on your tax return. If you don't make an estimated tax payment, there will always be tax due when you are self-employed and have any profit because that 15.3% goes automatically on the net profit from your schedule C, which is where you can report your 1099 income.   How to Get Involved Taxanista is a leading certified public accountant who offers reliable professional tax and accounting services. She is a consummate strategist. She loves listening, analyzing and developing strategic plans. Do you have bigger issues? Taxanista can help you fight off the IRS. Angela knows how unsettling some of your struggles may be that’s why she offers private consultations for your business and tax matters. Increase your profit by knowing your numbers. Reach out to her now. https://www.taxanista.com/

Tax Brackets Explained for 2020 The IRS revealed the 2020 tax brackets, and it's never too early to start planning to reduce money owed for taxes. You can start thinking ahead about how to handle your 2020 finances in the most cost-effective way. In this week's episode, Angela Sticca Snyder explains tax brackets for 2020 and why they are important. If you had the choice between a 0%, 12%, or 37% tax bracket, which one would you choose? Some of you might respond with, "I'm going to pick the highest tax bracket there is. I'm going to pick 37%. What's 0%?” The 0% tax bracket means unemployed. You want to be at the highest tax bracket you can be at. I'm going to use simple and easy to understand numbers. They're not going to be real tax brackets. For instance, let's say you made $100,000, the tax bracket from zero to $50,000 was 0%. Then, from $50,001 to $100,000, it was 15%. Then from $101,000 on up, on to 90%. Let's say I earned $100,001. I'm in the 90% tax bracket. It sounds horrible, doesn't it? But in the 90% tax bracket, my $1 is getting taxed at 90%. My zero to $50,000 has no tax on it. My $50,001 to my hundred thousand has the 15% bracket. You always want to be in the higher tax bucket because it's only the incremental amount above that is being charged.   It's your taxable income that is important, not your gross income. We've got our wages, we've got our 1099, and our interest, dividends, or capital gains. We've got adjustments that come off. Maybe we have self-employed health insurance, or we contribute to our retirement account and the standard deduction. We itemize our deductions. We have our gross income, then our deductions, and that gives us our taxable income.  That is the number that you look at to determine what tax bracket you're in, not what's on your W2 or your 1099. I hope this helps you achieve the highest tax bracket possible. How to Get Involved Taxanista is a leading certified public accountant who offers reliable professional tax and accounting services. She is a consummate strategist. She loves listening, analyzing and developing strategic plans. Do you have bigger issues? Taxanista can help you fight off the IRS. Angela knows how unsettling some of your struggles are, that’s why she offers private consultations for your business and tax matters. Increase your profit by knowing your numbers. Reach out to her now. https://www.taxanista.com/  

Difference Between LLC and S-Corp “You’re Taxed Where You Do the Work” - Angela Sticca Snyder (01:24-01:27) Finances play an important part in any business. Every business must file tax returns and make payments on income at the state and federal level. It is important to document the cash flow for business analytics. In this episode, Angela talks about the difference between an LLC and S-Corp. Part One of ‘Difference Between LLC and S-Corp’ The first thing I want to know is if you have an LLC. If you don't have an LLC already created, you need to get one. That's the first thing you need to do to move your business on the path of growth. So, we're going to be talking about two different instruments today. Number one is an LLC. An LLC is something you get registered within a state. “You’re supposed to file in all the states where you are present and earn income.” – Angela Sticca Snyder (01:47-01:53) There's a big misconception that where you register your business is how you're taxed. That's not the case. I have clients that will come to me and say that they got their business registered in Nevada. Or, in Wyoming or Texas. There are definitely good legal reasons for that. But there's not always good tax reasons because you're taxed where you do the work. LLC is a limited liability company. There's no such thing as a federal limited liability tax return. If you're an S-Corp, how are you taxed? And that's when I get the deer in the headlights. What I mean is if you created an LLC and you didn't do anything different than you could be what's called a disregarded entity. And what that means is that you'll file a schedule C on your personal return for your business activity. You're going to be considered a partnership if you formed an LLC with an unrelated party by default without any election required. The other option is the S-corporation status. It's considered a flow-through entity. A flow-through entity is where the entity itself gathers and organizes the income and expenses. But it's passed through or flown through to the owners in the form of a K1. So, a partnership and S-Corp are considered flow-through entities. That is the business itself will not pay income tax. The income or loss will flow through to the individual owners. They will report on their own individual tax returns. Many small businesses are interested in forming an S corporation. S corporation can be very helpful for a growing business. You're required to run payroll when you select status at a top-level. You've got two components of your income out of an S corporation. You have wages that come to you in the form of a W2 and that has the social security and Medicare tax on it, which is 15.3% for both the employer, which is your business and the employee, which is you. You also get a K1 which is somewhat like 1099. It’s the other document you get to report your income. If you're an S corporation, that income escapes the social security and medicare tax. That's why people are so anxious to create S corporation returns. Part Two of ‘Difference Between LLC and S-Corp’ Another rule of S corporation is that you're required to file payroll on a reasonable basis and on a reasonable salary. That way you cannot avoid the self-employment tax on all S corporation income. There is no right or wrong way in which to elect the S corporation status.    “Wait until a business has made some income and it is cost-beneficial for the business owner.” – Angela Sticca Snyder (06:38-06:46) We need to start having conversations to determine the best time once your business is netting about 40 to 50,000. Otherwise, the only person that really makes out usually is the accountant. Like myself. For instance, let's say you created an LLC and we put you into an S Corporation right away, but you hadn't started earning any income yet. In that instance, we would still be required to run payroll as a condition of the S-Corp status. We would have to file an S corporation tax return. There would be very little benefit to you and more filing fees that the accountant would collect.   The S corporation tax return is due one month before the normal business return. So, it is due on March 15th and an extension would need to be filed. If you can't make that time, the extended due date pushes it out until September 15th. It is crucial that you make sure that you meet those deadlines. The penalty for failing to file by the extended due date is $195 or $200 per shareholder per month. If there's two of you, then it's $400 a month and it does not end. It's super important that you make sure that you have adequate records and file on time. Something also to keep in mind about S corporation is you are required to report the balance sheet. If your gross income is greater than $250,000 more than likely if you're in an S corporation status, your gross income will be above the $250,000 if you have to report a balance sheet. Now's the time to go ahead and get your accounting software started. So, if you're not currently utilizing anything, now's a great time to get going. We personally recommend XERO for bookkeeping and accounting software.   If your business is netting at least $40,000 to $50,000 dollars and you have one individual involved in your LLC, it's time to chat for additional members of your LLC. Then the net income would need to rise to determine the best time for us to chat. Once we do chat, it's super simple. We determine the state you're located in and the state it's best to get organized. Once we do that, then we make the election with the IRS for you to be taxed as an S corporation. Once we make that election, after many weeks or months, you will get a letter back from the IRS. It says, congratulations, we've approved your selection status as of X, Y, Z date. It is super important that we get a copy of that letter that you received back from the IRS. So that we can put it in your permanent file and also make sure that the correct date that we requested was accepted at the end fortunate circumstance that the date where you requested was not accepted. How to Get Involved Taxanista is a leading certified public accountant who offers reliable professional tax and accounting services. She is a consummate strategist. She loves listening, analyzing and developing strategic plans. Do you have bigger issues? Taxanista can help you fight off the IRS.  Angela knows how unsettling some of your struggles may be, that’s why she offers private consultations for your business and tax matters. Increase your profit by knowing your numbers. Reach out to her now. https://www.taxanista.com/

It’s Year-End Close! Are You Ready? “Invest in A Good Bookkeeping and Accounting System.” -Angela Sticca Snyder (06:07-06:10) Are you prepared for the year-end? It’s critical to review your business financials as this information will be used to prepare your tax returns. How else are you supposed to analyze the performance of your business? In this episode, Angela Sticca Snyder will give you some actionable year-end accounting advice that you don’t want to miss. Part One of ‘It’s Year-End! Are You Ready?’ If you’re sitting on a huge profit, you might want to make some asset purchases before the end of the year. For instance, if your highest tax bracket is 30% and you buy a new computer for $1,000. That means you saved $300 on your federal taxes. So, it’s a good time to take a look and see everything that you know you’re going to need to buy soon. It’s a good idea for you to buy it now before the end of the year.   “Keep in mind that you’re technically supposed to have all your taxes paid by the end of the year.” – Angela Sticca Snyder (02:13-02:17) For some reason, I have received notices about penalties. The tax was due back in December or at the latest April 15th, but they didn't get it filed. They filed an extension but only an extension of time to file and not an extension to pay. What you can do is you can go to irs.gov/payments and go ahead and set up an account and make a payment that way. Nobody wants to make a payment to the IRS, but you also don't want penalties or interest. So, that's one thing to keep in mind. If you think you have any balance due or you think you've got an under-withheld for your taxes, do something about it. Make sure that you file on time to cut those penalties or put in estimated tax payment. It's super simple to organize your taxes. We have amazing tools to make your life easier in terms of tax and accounting. Even if you don't do anything with it throughout the year and you have it for tax time, at least you've got it organized. If you don't have some type of checks and balances, something's going to fall through the cracks. Part Two of ‘It’s Year-End! Are You Ready?’ Here’s another cool tip for you. When you get 'frequent flyer points' or 'credit card points', don't use it for business purchases. Your business buy would be deductible anyway. You can use it for other things like Christmas gifts for a holiday item, or for yourself.  “If you’re sitting on any old capital losses or mutual funds, consider selling some of your investments.” - Angela Sticca Snyder (03:49-04:03) There’s another important thing you need to keep in mind. If you have a flexible spending accounts or an HSA, make sure to maximize that before year-end. It’s a good idea to fund your HSA each year because that money can grow, and it comes out tax-free for medical purposes. When you pull it out in your later years with your flexible spending account, you've got to use it or lose it. So, look at your flexible spending account and see if there's anything in there, any stock sales.  Now is a good time to sell some of your investments or your mutual funds if you're sitting on any old capital losses. The market is up so high that you would be able to offset those capital gains with any leftover capital loss. Remember, you're limited only to 3000 a year. So, if you capture some of those gains, then you can offset it with some of those losses and not have to pay it. To end this podcast episode, make sure that you start the year off right with a mileage tracking app. Consider getting some type of good bookkeeping and accounting system. No receipt, no deduction. How to Get Involved Taxanista is a leading certified public accountant who offers reliable professional tax and accounting services. She is a consummate strategist. She loves listening, analyzing and developing strategic plans. Do you have bigger issues? Taxanista can help you fight off the IRS. Angela knows how unsettling some of your struggles may be that’s why she offers private consultations for your business and tax matters. Increase your profit by knowing your numbers. Reach out to her now. https://www.taxanista.com/

Over the course of the next 8 weeks I'll be sharing clips from the sessions at the 2018 You Are Stronger Than You Think Women's Event. "You Are Stronger Than You THink" is a lifestyle and leadership event for go-getter women and teen girls. Our yearly event is practical and inspirational. It's a leadership event with the soul of a Christian women's conference. We laugh. We cry, but we also provide incredible leadership advice for women and girls.  (photo credit: Crystal Clear Photography) In this week's episode you will listen in on a dynamic session that speaks to women in all areas of leadership: Our signature #WorkYourPlan Purpose Panel The You Are Stronger Than You Think Women's Event is part Christian women's conference, part business conference. Our #WorkYourPlan Purpose Panel was a perfect illustration of this. Our panelists were Khalilah Elliott of Disney Theatrical Group, Pamela Slim of Ke' Small Business Learning Lab, Evelyn Gaskin of Leadership Excellence Development Academy and Angela Sticca Snyder of Taxanista. The discussion was moderated by Isha Cogborn of Epiphany Institute. The panel discussion was worth the price of admission. I love the combination of practical and spiritual wisdom shared by all our panelists. In this session we dive into... why when we are given a seat at the table we must use our voice answering the question: how do you get people to take you seriously in a new endeavor when you're known for trying multiple things? what it means to say yes to the call of God on YOUR life how to continue to trust God in the race of faith when life doesn't unfold in the way you expected and so much more... This entire series is going to benefit you if... you’re stuck and you aren’t moving forward with the plans you sense are from God, because you fear making mistakes or failing in front of others. you struggle with identifying your strengths and how to use them to make a contribution to yourself, your family and others. you need a plan of simple actions you can take to start dreaming and living again. Show Notes: You Are Stronger Than You Think Women's Event   Episode Quote: "It's always the work. Show the Work." - Pam Slim "You're in the room. It's actually a disservice to the people who saw something in you to not use your voice." - Khalilah Elliott "Is preaching the Gospel sexy you bet it is? Changing lives with the word of God...is sexy. Walking in your purpose and being fulfilled...is sexy. If you say yes to the cause and the call for your life and you never look back, God is going to bless you!" - Min Evelyn Gaskin Subscribe to the StrongHer Podcast and published episodes will come right to the podcast app on your phone and/or join our email list for a daily email reminder when a new episode is ready. If you enjoyed the show, please subscribe, rate it on iTunes with a short review. Connect with Kendra personally @kendratillman OR @strongherme on Instagram. Ask a question on the podcast episode at strongher.me/blog or by emailing strongerevent@gmail.com.

One of my favorite things to do leading up to the 2018 You Are Stronger Than You Think Women's event is to host the Meet the Mentor series. This series of podcast episodes will give you a taste of the teaching you can expect the day of the event. Meet the Mentor is your confirmation you have signed up for an amazing experience and if you’ve held out to the last minute, it’s your tap on the shoulder to get you, your girlfriends and the teen girls in your life registered. For the Meet the Mentor series I have recorded my conversations with our 7 dynamic speaker-mentors.    Angela Sticca Snyder is one of the panelist for the #WorkYourPlan Purpose Panel we will be hosting at the 2018 You Are Stronger Than You Think Women's Event. Angela graduated from High School at 16, earned her Bachelors in Accounting at 19; and her Master’s degree in Taxation at 21. She is a federally licensed, IRS Enrolled Agent and maintains a former Federal Top Secret Security clearance. She has over 24 years of expertise in tax preparation, IRS audits, accounting, systemetizing processes and business coaching. She is a wise business woman who knew early on accounting would be her career path. Her talents lie in organization and creating peace of mind out of chaos, including being proactive in planning for the future, and of course, making taxes and accounting FUN and understandable. After spending 20 years in corporate accounting, she started her own tax accounting business that now has 10 employees. In this episode, she  shares a little of her journey to entrepreneurship, offers advice for aspiring entrepreneurs and talks about the best part of owning her own business.  Show Notes: Taxanista Accounting Services You Are Stronger Than You Think Women's Event Subscribe to the StrongHer Podcast and published episodes will come right to the podcast app on your phone and/or join our email list for a daily email reminder when a new episode is ready. Episode Quotes: "You have to know how to follow before you can lead."  "A good leader listens to others." - Angela Sticca-Snyder If you enjoyed the show, please subscribe, rate it on iTunes with a short review. Connect with Kendra personally @kendratillman OR @strongherme on Instagram. Ask a question on the podcast episode at strongher.me/blog or by emailing strongerevent@gmail.com.

Segment 1: In our Trends and Insights Segment, we talk with Kristi Hall, the founder of Conscious Connections, a business -savvy women’s community. Kristi talks with us about the importance of embracing change to grow your business.Segment 2: Our Success Interview is with entrepreneur and accounting expert Angela Sticca-Snyder. We talk with Angela about what it means to reach for success and how holding that vision has transformed her business.Segment 3: In our Business Builder Segment, we talk about how the importance of becoming clear on exactly who your ideal client is and how you can serve them.  

Angela Sticca Snyder the Taxanista is interviewed by David Cogan of Eliances Heroes radio show amfm. Angela talks with David about taxes, how she makes them fun for clients so they have a plan for their business. She prepares and plans all business financials, and coaches individuals on their ideal way to find success in business with their money regardless if they have a lot or a little.

Ok, so many of you "get-er-done" types have already done your taxes. Congratulations! But then there's others, like me, who are a bit behind and could use some help. Whoever you are, you could learn a lot from this episode of CloseUP.  Listen in on my conversation with our eWNRadio Network host, Angela Sticca-Snyder, of the show The Taxanista and find out what every CEO needs to know about taxes as well as what it takes to be a successful CEO. 

What does CEO "Must-Do's" and tax tips have in common? Angela Sticca-Snyder! She is The Taxanista who hosts her show by that name on eWNRadio Network. She and CloseUp Host, Phyllis Smith take a deep dive and a swim into the secrets behind being a rockin' CEO as well as offering vital tax tips for the end of the year and beginning of next. Here's what you'll walk away with:1. Att least 7 success tips every CEO should know2. Why paying less taxes might not be a good thing3. Last minute tax credits for the end of the year4. Really cool apps that will help you do everything from tracking your mileage to book-keeping 

What does culinary school and taxes have in common? Angela Sticca Snyder! She has degrees in both and opted for the left-brain option 20+ years ago.  Angela is NOT your parent's accountant with a stuffy suit and long face. No, she's got the skinny on everything that has to do with taxes. And for those of you business owners now entering your 4th quarter, she is worth taking some time from the time you don't have to find out how where the bodies are buried (or write-offs in this case) and save you some buckaroos! A must-listen! Also, you'll get a peak into the type of content on Angela's new radio show called, "The Taxanista," which is now playing on eWNRadioNetwork.com LIVE on Tuesday evenings at 7p ET. You can access her show on demand at http://ewnradionetwork.com/show/the-taxanista/.