THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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Why the PPP Loan is Good for Artists
This Q & A between Paddy Johnson of VVrkshop and tax expert Hannah Cole on the Payroll Protection Program loan (PPP loan) explains how it can help artists. You don’t have to run an incorporated business to qualify. This money is a stimulus for you.
Paddy and Hannah talk about loan terms, and our take home message: this is a forgivable loan that could help you. For many people, that could mean more time in the studio, a new body of work, or simply some extra peace of mind. Read the Q & A. Look into the loan if you haven't already. It's an easier application than almost any grant you'll apply for and might be more money too.
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?
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
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 are your money concerns?
Suggest a blog topic for Hannah here.