tax policy

Vision: Running for Office

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Vision: Running for Office

Today, I’m interviewing 2 candidates running for local office here in Western North Carolina. Jasmine Beach-Ferrara is a North Carolinian, Christian minister, founding director of the Campaign for Southern Equality (CSE), and mother of 3. Service and faith are the driving forces in her work, from teaching in prisons to founding an organization to advocate for LGBTQ equality across the Deep South. By showing up—especially in small towns—and telling the stories of families, Jasmine’s organization (CSE) helped win marriage equality in North Carolina and Mississippi. She is running to unseat Republican Madison Cawthorne for US Congress.

Maggie Ullman was Asheville’s first Sustainability Director. Her leadership has resulted in over $5 million of new grant dollars to communities in the American South who work with their local government to address climate change equitably. She is a candidate for Asheville City Council.

Together, both Maggie and Jasmine want to bring people together to incite change and protect what’s precious.

Proof You're Doing Fine: Break Even Point

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Proof You're Doing Fine: Break Even Point

I often see creative entrepreneurs struggling with mindset issues when it comes to the idea of being an official business owner and not knowing when to file their Schedule C. 

Today, I explain why it’s important to know when the IRS recognizes your business as official, the self-employment tax deductions you can take advantage of once you start your business and what the breakeven point is when you’re an entrepreneur.  

Money Management for Creative Professionals

Nerissa Street of Ten Thousand Women Ten Thousand Stages Podcast interviews art-centric tax expert Hannah Cole about her influences as an artist and as a tax expert for creative freelancers. This interview is available as both a podcast and a video, so you can choose the medium that you prefer.

What’s in the $1.9 Trillion stimulus plan?

What’s in the $1.9 Trillion stimulus plan?

The American Rescue Plan, Biden’s $1.9 Stimulus Bill, will be an enormous boost to the US economy. Here’s a brief rundown of the items most likely to affect freelancers.

Stimulus payments:

New $1400 stimulus payments will go out per person on the return. This means that children and other dependents will get the full $1400 each, in addition to the taxpayers. Households with income under $150,000 (married filing jointly) and individuals with income under $75,000 will receive the full benefit. Households with income between

ArtWitch Podcast: Permission to Thrive + Money Mindsets

ArtWitch Podcast:  Permission to Thrive + Money Mindsets

Tax expert and artist Hannah Cole discusses all things money with Art Witch Podcast host Zaneta of Brooklyn, New York. They also talk about mindfulness in this nearly hour-long podcast interview.

Hannah speaks about empowerment for creative people (especially for BIPOC people and women) and they talk about smashing the patriarchy. They discuss issues people have with earning and having money and how to change your attitude. What can you accomplish when you are not trying to run from money issues and fear of the IRS?

Unemployment Tax Savings from the 2021 Stimulus Bill

Unemployment Tax Savings from the 2021 Stimulus Bill

President Biden recently signed the American Rescue Plan into law, and it has some very exciting provisions for people who collected unemployment during 2020. Hannah Cole of Sunlight Tax created the following short video to give you the latest information about how the new law will apply to unemployment income.

Hannah goes through specific information about unemployment taxes affected by this retroactive legislation. Hannah covers what you need to know, whether you have already filed your 2020 taxes or whether you have not filed yet.

What Do Arts Organizations Need to Know About the Federal Shuttered Venue Operators Grant?

What Do Arts Organizations Need to Know About the Federal Shuttered Venue Operators Grant?

On December 27, 2020, a congressional stimulus bill that was passed and signed into law by then President Trump had several provisions to help US residents through the COVID-19 crisis. Among these are additional stimulus payments, enhanced and extended Federal unemployment benefits, additional Paycheck Protection Program (PPP) money, simplified PPP forgiveness rules, an extension of the temporary charitable contribution deduction for taxpayers who take the standard deduction, and a doubling of the business meals deduction from 50% deductible to 100% deductible for the years 2021 and 2022 so long as the meal is purchased from a restaurant. (Takeout meals are okay.) These provisions should provide some help to all of us as we continue to weather the economic crisis.