THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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Change is Coming: How I Use the Feedback Loop to Shift My Business
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In this episode of the Sunlight Tax Podcast, I take you behind the scenes of a challenging season in my business and share what it really looks like to navigate change as an entrepreneur. I share insights on the power of feedback, confronting financial realities, and the critical shift from simply learning about taxes and business to taking actionable steps that drive real results.
I also introduce new workshops and community-building initiatives designed to make learning tangible, supportive, and actionable. If you’re a small business owner, creative, or entrepreneur looking to grow with confidence and clarity, this episode shows how to shift from overwhelm to empowered action.
Listen and Subscribe Here
In this episode of the Sunlight Tax Podcast, I take you behind the scenes of a challenging season in my business and share what it really looks like to navigate change as an entrepreneur. I share insights on the power of feedback, confronting financial realities, and the critical shift from simply learning about taxes and business to taking actionable steps that drive real results.
I also introduce new workshops and community-building initiatives designed to make learning tangible, supportive, and actionable. If you’re a small business owner, creative, or entrepreneur looking to grow with confidence and clarity, this episode shows how to shift from overwhelm to empowered action.
Also mentioned in today’s episode:
01:00 Navigating Difficult Times in Business
09:37 Embracing Change and Taking Action
17:56 Building Community and Future Workshops
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:
Join my Free Class on 3/4: Make Money Easier, Starting With Taxes
Order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed
Check out my program, Money Bootcamp
What Counts As Taxable Income
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It’s easy to get confused when it comes to figuring out what you need to report as income on your tax return.
Today, I’m going over some of the most common ways to receive money as an entrepreneur and talking about what actually counts as income in your business so you can be prepared for your taxes.
Join me in this episode to learn more about determining your total income and how you can make sure you report it correctly to the IRS.
Listen and Subscribe Here
It’s easy to get confused when it comes to figuring out what you need to report as income on your tax return.
Today, I’m going over some of the most common ways to receive money as an entrepreneur and talking about what actually counts as income in your business so you can be prepared for your taxes.
Join me in this episode to learn more about determining your total income and how you can make sure you report it correctly to the IRS.
Also mentioned in 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
Takeaways
You must report all income derived from your business activities.
Grants received are considered taxable income unless proven otherwise.
Cash income must be reported, regardless of the amount.
Reimbursements for personal expenses do not count as income.
Gifts are not taxable income if no service is exchanged.
Business loans are not considered taxable income.
Moving money between personal and business accounts does not count as income.
The IRS focuses on who holds the money when determining tax obligations.
Income generated from business operations is generally taxable.
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
When Do You Actually Need an Accountant?
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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.
Listen and Subscribe Here
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
Is It Time to Form An S Corp?
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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.
Listen and Subscribe Here
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
The Right Step at the Right Time (Order of Business Operations: What Comes First?)
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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.
Listen and Subscribe Here
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
Takeaways
A lot of people form LLCs and S corporations when they're not necessary.
You want to be at the right level at the right time.
Don't take business advice from random people on the internet.
The moment you advertise is when your business starts.
Bookkeeping is a requirement for tracking income and expenses.
An LLC provides liability protection but is not always necessary.
Business liability insurance can be a cost-effective alternative to an LLC.
You do not need an S corporation until you reach a certain profit threshold.
Forming an S corporation too early can lead to unnecessary expenses.
Consult with professionals to understand local regulations regarding S-Corps.
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
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