THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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How to Fund Your IRA: Pay Yourself First
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How to Fund Your IRA: Pay Yourself First
In today's episode, I’m talking about a very important topic: how to pay yourself first as a creative entrepreneur and how you can grow your stash of fuck you money.
Join me today, to hear the important steps you can take to make sure that you set yourself up for financial security and why it’s never too late to start contributing to your IRA.
What it Costs You to Wait: Money School
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What it Costs You to Wait: Money School
In today’s final episode of the Money School Bonus Series, I’m sharing why waiting costs you money when it comes to building financial security and how you can start investing to grow your wealth today.
Join me to learn how you can push past your perfectionism, take action and start growing your money to gain financial freedom.
Don't Hustle, Don't compromise, Just Maximize: Money School Bonus Series
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Don't Hustle, Don't compromise, Just Maximize: Money School bonus series
Today, I’m rounding out the Money School Bonus Series by sharing how you can maximize the money you already have and get your money to work for you.
Join me in this episode to learn a 5 minute rundown of exactly what money buckets you need and what order to fund them, plus what I call the “Power Triangle.” It’s the secret sauce behind making your money work for you. I teach you the 3 parts of the Power Triangle, plus action steps, so you can build generational wealth for your family and your future.
Roth vs Traditional IRA: Does it Even Matter?
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Roth vs Traditional IRA: Does it Even Matter?
Today, I discuss something I’m asked about a lot as a tax professional- which is better for a creative entrepreneur–a Roth or a traditional IRA? Which one you should focus on to get the most out of your retirement account?
My controversial opinion? This question can put folks into a state of Tiny Detail Exaggeration Syndrome (credit to Mister Money Mustache for that great phrase): I think it actually can distract you from the real issue.
I’m diving into the core differences between these two IRA accounts, important issues to be aware of, and what you really need to stay focused on to get your retirement fully funded.
Summer Camp and the Child Tax Credit
As any parent of young kids knows, juggling work and childcare is hard. And paid childcare is impossibly expensive. Many budget-conscious artist parents who manage to fit their work into school time hours – and avoid babysitters and after school care – simply don’t have that option come summer. Here’s some good news. If you pay to send your child to summer camp so that you can go to work, that camp expense qualifies for the Child and Dependent Care Tax Credit. And in March 2021, the Child and Dependent Care Tax Credit was expanded. It now allows bigger dependent-care expenses, a higher percentage of them, and more taxpayers qualify to take the credit.
What are your money concerns?
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