Podcasts about Bookkeeping

How to write off international travel.

How Section 179 Saves a LOT on Taxes.

In this conversation, Brett McCollum interviews Cathi Korelin, an enrolled agent with over 20 years of experience in the tax industry, particularly focusing on real estate investors. Cathi shares her journey into the tax world, the importance of proper bookkeeping, and various tax strategies that can help real estate investors save money. She emphasizes the need for a collaborative team of professionals to navigate the complexities of taxes and offers insights into common mistakes made by investors. Cathi also discusses her upcoming book on creative real estate finance and tax strategies, aiming to educate investors on maximizing their financial outcomes.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

How to Pay Your Newborn Through Your Law Firm.

How to Write Off Spotify and Netflix.

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

Struggling to profitable—sounds like a dream, right? But for one badass business owner, it became reality.

Are Credit Card Points Taxable? Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

Peggy's Bookkeeping & Tax Service has published a new article offering expert guidance on compliance and accurate recordkeeping. Those interested in managing their financial records carefully, minimizing tax liabilities, and making informed year-round financial decisions can find further information at Peggy'sBookkeping&TaxServices/Blog Peggy's Bookkeeping and Tax Service City: Mesquite Address: 721 Gross Rd Suite A, Website: https://peggys-tax.com

Law firm ads ALWAYS beat law firm networking. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

Income taxes are paid on a graduated scale. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

In the DSO world, as in life, financial disappointment can jeopardize growth, making a strategic and realistic approach to profit-making crucial to secure financial health for your business. And yet, many struggle with the concept. In the latest episode of The Dental Economist Show, host Mike Huffaker welcomes Mike White, Principal at Clifton Larson Allen, to explore why proper financial fundamentals are crucial for practice growth, how to position your group for successful transactions, and key strategies for maximizing practice value. This conversation offers deep insight into the hidden financial leaks plaguing many DSOs today, tried and tested methods to unlock hidden profit and the importance of realism and acceptance in it all, reminding us that it pays (literally) to have your financial house in order!

Don't make this mistake when setting law firm quarterly goals. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

The top 5 tax mistakes for law firm owners. Need help with bookkeeping and tax strategy? Let's chat -> https://bigbirdaccounting.com

The penalty for failing to PAY your taxes shouldn't worry you. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

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  

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Are you constantly saying, “I'm just not a numbers person”?

The penalty for failing to FILE your taxes is NOT worth it. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

How law firm owners can thank referral partners. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

High Standards Require Comparison. Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

Someone Quitting Your Law Firm Shouldn't Be The End Of The World Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com