THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
search A TOPIC
Categories
- Business Management 16
- Creative Specific 3
- Estimated Quarterly Taxes 5
- General Economy; Tax Policy and Legislation 36
- Get to know Hannah Cole 8
- Interviews and personal stories 23
- Personal Finance 17
- Personal and Career Development 16
- Practical and Tactical Tax 54
- Retirement and Future Success 26
- Sunlight Podcast 149
- Tax Deductions for Freelancers and Self-Employed 7
- the Sunlight Tax Podcast 2
Is It Time to Form An S Corp?
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.
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
What Kamala and I Share: Optimism and Patriotism
Listen and subscribe here
Today, I'm Discussing the balance between passion and monetization in creative work and some of the themes of patriotism and optimism that I identify with in the Harris Walz campaign, including how it relates to civics.
Join me in this episode to learn about some of the benefits of the U.S. tax code for small businesses and why civics is so important.
Listen and subscribe here
Today, I'm Discussing the balance between passion and monetization in creative work and some of the themes of patriotism and optimism that I identify with in the Harris Walz campaign, including how it relates to civics.
Join me in this episode to learn about some of the benefits of the U.S. tax code for small businesses and why civics is so important.
Also mentioned in today’s episode:
Balancing value and money in your creative work 6:10
The role of patriotism and civics in democracy 8:54
Benefits of small business in the economy 16:37
If you enjoyed this episode, please rate, review and share it!
Links:
Marissa Molinar, Midday Movement series
Cara Bean, Here I am, I am Me: An Illustrated Guide to Mental Health
What are your money concerns?
Suggest a blog topic for Hannah here.