THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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Unpacking Trump’s New Tax Law: What You Need to Know About the One Big Beautiful Bill Act
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In this episode of the Sunlight Tax podcast, I talk about Trump’s new tax law, officially called the “One Big Beautiful Tax Bill.” I break down its key points, how it impacts different income groups, the updates to clean energy tax credits, and what it means for self-employed people and freelancers.
I also emphasize why it’s so important to understand tax laws, and I encourage you to share this information with anyone who might benefit from it.
Listen and Subscribe Here
In this episode of the Sunlight Tax podcast, I talk about Trump’s new tax law, officially called the “One Big Beautiful Tax Bill.” I break down its key points, how it impacts different income groups, the updates to clean energy tax credits, and what it means for self-employed people and freelancers.
I also emphasize why it’s so important to understand tax laws, and I encourage you to share this information with anyone who might benefit from it.
Also mentioned in this episode:
01:00 Introduction to the New Tax Bill
04:13 Overview of the Tax Bill's Key Points
11:49 Impacts on Low-Income and Wealthy Households
18:55 Changes to Environmental Credits and Clean Energy
19:50 Implications for Self-Employed and Freelancers
Takeaways
The new tax bill is officially called the 'one big beautiful tax bill.'
I aim to provide clear, fact-checked information about tax laws.
The bill extends provisions from the Tax Cuts and Jobs Act of 2017.
It is expected to increase the federal deficit by $3 to $4 trillion.
The bill primarily benefits households with incomes over $500,000.
Medicaid cuts are expected to save $900 billion.
The child tax credit has been increased from $2,000 to $2,200.
Many environmental tax credits from the Inflation Reduction Act have been eliminated.
Self-employed individuals will maintain the qualified business income deduction.
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.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
Design Spotlight: The Power of Branding, Human Connection, and Creative Strategy in the Age of AI
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In this episode of the Sunlight Tax podcast, I talk with Reggie Tidwell and Tim Scroggs, the founders of the design agency 40 Hearts. We dive into their journey as designers, explore the impact of AI on the creative industry, and discuss why community and branding matter so much during times of economic uncertainty. Our conversation highlights the need for genuine human connection and the enduring value of creativity in navigating challenges.
Listen and Subscribe Here
In this episode of the Sunlight Tax podcast, I talk with Reggie Tidwell and Tim Scroggs, the founders of the design agency 40 Hearts. We dive into their journey as designers, explore the impact of AI on the creative industry, and discuss why community and branding matter so much during times of economic uncertainty. Our conversation highlights the need for genuine human connection and the enduring value of creativity in navigating challenges.
Also mentioned in today’s episode:
02:52 Meet the Designers: Reggie Tidwell and Tim Scroggs
08:38 Creating Enduring Value in Design
11:58 Navigating Client Relationships and Brand Strategy
14:49 Building Confidence as a Designer
17:35 Embracing the Unknown in Creativity
23:55 AI and the Future of Design
29:56 Community and Connection in the Design World
32:36 The Impact of AI on Creativity and Humanity
41:19 The Importance of Intuition and Human Connection
Takeaways
The design industry is evolving with the introduction of AI, but human creativity remains irreplaceable.
Branding is essential for businesses, especially during economic uncertainty.
Transitioning from a beginner to an expert designer involves gaining confidence and experience.
AI should be viewed as a tool to enhance creativity, not a replacement for it.
Isolation is a significant challenge for creatives, and community support is vital.
Understanding client needs is crucial for effective branding and marketing strategies.
Creativity thrives in environments that value human connection and collaboration.
The future of design will require a blend of technology and human intuition.
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.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
Money Cheat Sheet for the Overwhelmed
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Today, I’m sharing an article I wrote where I give a practical financial overview and is a personal finance cheat sheet for anyone feeling overwhelmed with their finances and taxes.
Listen to this episode to get some finance tips to help you feel more secure as an entrepreneur when it comes to your money.
LISTEN AND SUBSCRIBE HERE
Today, I’m sharing an article I wrote where I give a practical financial overview and is a personal finance cheat sheet for anyone feeling overwhelmed with their finances and taxes.
Listen to this episode to get some finance tips to help you feel more secure as an entrepreneur when it comes to your money.
Also mentioned in today’s episode:
02:50 Understanding the Emotional Impact of Money
06:06 Basic Steps to Avoid Financial Disaster
08:55 Debt Management Strategies
12:37 Saving and Investing for the Future
15:52 Empowerment Through Financial Knowledge
Takeaways
Understanding the order of operations in personal finance is crucial.
Money often represents self-worth and security for many individuals.
Artists may feel disconnected from traditional financial systems but must navigate them.
Basic personal finance steps are universal and can empower individuals.
Avoiding financial disaster is the first step in personal finance.
Pay off high-interest debt first to regain financial control.
Prioritize retirement savings over children's college funds.
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:
My #1 Tip to Make Your Kid a Millionaire
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
Money Talks: A Conversation with My Gen Alpha Daughter
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In this episode of the Sunlight Tax Podcast, I had the joy of interviewing my daughter, Farrah, about her very first job and everything she’s been learning about managing money. We talked about the excitement of earning her own income, the value of saving and starting a Roth IRA early, and how taxes work. We even touched on the idea of net worth.
Farrah shared some really thoughtful insights about spending wisely and why she thinks financial education is so important for kids her age (Gen Alpha). It was also fascinating to see how her perspective reflects some of the generational shifts in how we think about money.
Listen and Subscribe Here
In this episode of the Sunlight Tax Podcast, I had the joy of interviewing my daughter, Farrah, about her very first job and everything she’s been learning about managing money. We talked about the excitement of earning her own income, the value of saving and starting a Roth IRA early, and how taxes work. We even touched on the idea of net worth.
Farrah shared some really thoughtful insights about spending wisely and why she thinks financial education is so important for kids her age (Gen Alpha). It was also fascinating to see how her perspective reflects some of the generational shifts in how we think about money.
Also mentioned in today’s episode:
00:00 Introduction to Money Conversations
03:12 First Job and Earnings Insights
06:17 Understanding Roth IRA and Compound Interest
08:56 Navigating Taxes and Financial Responsibilities
11:43 Defining Net Worth and Wealth
15:36 Lessons on Spending and Saving
18:05 The Importance of Financial Education
19:08 Reflections on Generational Financial Preparedness
Takeaways
Farrah's first job was a significant milestone in her understanding of money.
Earning income brings excitement but also the responsibility to save.
A Roth IRA is a powerful tool for long-term savings due to compound interest.
Understanding taxes is crucial, as they are a personal responsibility.
Saving money requires discipline and foresight, especially for young people.
Teaching kids about money management can empower them for the future.
Generational differences exist in financial preparedness and knowledge.
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:
My #1 Tip to Make Your Kid a Millionaire
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
My #1 Tip to Make Your Kid a Millionaire
Listen and Subscribe Here
In this episode of the Sunlight Tax Podcast, I’m discussing the benefits of tax-advantaged savings for children, specifically focusing on Roth IRA for kids. I explain how parents can open a custodial Roth IRA for their kids, the advantages of Roth IRA, and the importance of teaching children about compound interest and financial literacy.
This episode also emphasizes the long-term benefits of starting early with investments and how this can empower the next generation financially.
Listen and Subscribe Here
In this episode of the Sunlight Tax Podcast, I’m discussing the benefits of tax-advantaged savings for children, specifically focusing on a Roth IRA for kids. I explain how parents can open a custodial Roth IRA for their kids, the advantages of a Roth IRA, and the importance of teaching children about compound interest and financial literacy.
This episode also emphasizes the long-term benefits of starting early with investments and how this can empower the next generation financially.
Also mentioned in today’s episode:
00:00 Introduction to Tax-Advantaged Savings for Kids
01:50 Understanding Roth IRAs for Minors
05:28 Investment Strategies for Kids' Roth IRAs
09:05 Teaching Kids About Compound Interest
Takeaways
Open a custodial Roth IRA for your kids to save on taxes.
Kids can have a Roth IRA if they earn income.
Roth IRAs allow tax-free withdrawals in the future.
Teaching kids about money can empower them financially.
Compound interest can significantly grow investments over time.
Matching your child's earnings in an IRA is allowed.
Most kids will pay no taxes on their Roth IRA withdrawals.
Investing in index funds is a good strategy for kids.
Financial literacy is crucial for the next generation.
This is a great opportunity to teach kids about investments.
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:
Roth vs Traditional IRA: Does it even matter?
How to fund your IRA: Pay yourself first
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
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