THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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Deliver Your Best Work with this Magic Tip
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DELIVER YOUR BEST WORK WITH THIS MAGIC TIP
Today, I’m sharing one of my best tips for providing great work and the importance of setting clear expectations and an open line of communication when working with clients.
Join me in this episode as I go over how you can create a great working relationship for both you and your clients and how you can set clear expectations and boundaries with your clients.
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Today, I’m sharing one of my best tips for providing great work and the importance of setting clear expectations and an open line of communication when working with clients.
Join me in this episode as I go over how you can create a great working relationship for both you and your clients and how you can set clear expectations and boundaries with your clients.
Also mentioned in today’s episode:
Why it’s so important to communicate boundaries and expectations 7:18
How parenting helped me set expectations better in my job 12:14
Setting client expectations for time based services 14:49
If you enjoyed this episode, please rate, review and share it!
Links:
Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc
How to Deduct Business Meals When You're Self-Employed
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How to Deduct Business Meals When You're Self-Employed
In today’s episode, I’m sharing how you can deduct business meals on your taxes as a self-employed individual including what you need for your tax documentation and what’s allowable for deduction.
Join me to learn the rules and guidelines for deducting business meals, the per diem meals allowance for business travel and the benefits business meals for entrepreneurs.
LISTEN AND SUBSCRIBE HERE
In today’s episode, I’m sharing how you can deduct business meals on your taxes as a self-employed individual including what you need for your tax documentation and what’s allowable for deduction.
Join me to learn the rules and guidelines for deducting business meals, the per diem meals allowance for business travel and the benefits business meals for entrepreneurs.
Also mentioned in today’s episode:
Client meals vs. travel meals 4:05
Why you need to keep your receipts and documentation 6:35
Keeping a calendar for your business meals and tax documentation 9:10
How much you can deduct for your business meals 11:50
If you enjoyed this episode, please rate, review and share it!
Links:
GSA per diem rate lookup (US travel)
State Department per diem rate lookup (International travel)
How to Deduct Business Travel
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How to Deduct Business Travel
Today, I’m talking about an important topic for entrepreneurs: business travel and deducting business travel on your taxes. I’m highlighting the importance of understanding the rules for deducting transportation costs, accommodations, and meals, and sharing how you can properly document your travel so you can avoid getting audited by the IRS.
Join me in this important episode to learn how you can distinguish between what’s deductible and what’s non-deductible when it comes to business travel expenses.
LISTEN AND SUBSCRIBE HERE
Today, I’m talking about an important topic for entrepreneurs: business travel and deducting business travel on your taxes. I’m highlighting the importance of understanding the rules for deducting transportation costs, accommodations, and meals, and sharing how you can properly document your travel so you can avoid getting audited by the IRS.
Join me in this important episode to learn how you can distinguish between what’s deductible and what’s non-deductible when it comes to business travel expenses.
Also mentioned in today’s episode:
Mixing personal elements with business travel and how to deduct properly 8:05
The 4 qualifications for deducting foreign travel costs 17:40
Deducting travel costs for inspiration without getting audited 27:15
If you enjoyed this episode, please rate, review and share it!
Links:
Right Back to It, Waxahatchee featuring MJ Lenderman
Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc
Startup Expenses: A Perk for Your New Business
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Startup Expenses: A Perk for Your New Business
In today’s episode, I’m diving into the topic of startup expenses, the deductions available for new businesses and some of the benefits the tax code provides to new businesses. I give examples of qualifying startup expenses and sharing some information on when you can deduct these expenses on your taxes.
Listen to this episode to get helpful guidance on taking advantage of tax deductions available in the early stages of a new business.
LISTEN AND SUBSCRIBE HERE
In today’s episode, I’m diving into the topic of startup expenses, the deductions available for new businesses and some of the benefits the tax code provides to new businesses. I give examples of qualifying startup expenses and sharing some information on when you can deduct these expenses on your taxes.
Listen to this episode to get helpful guidance on taking advantage of tax deductions available in the early stages of a new business.
Also mentioned in today’s episode:
What are startup expenses 8:00
What’s included in the startup expenses according to the IRS 10:05
When can you deduct your expenses on your taxes 12:30
If you enjoyed this episode, please rate, review and share it!
Links:
More Sunlight episodes to help you start your business:
Episode 20: Pricing and Business Lessons
Episode 44: S Corp Mistakes That will Cost You Thousands
Episode 50: The One Thing You Must Do in Your Business
Episode 67: Your Business Already Started
Episode 68: The Right Step at the Right Time
Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc
Business vs. Hobby & the IRS 9 Point Test for Profit Motive
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Business vs. Hobby & the IRS 9 Point Test for Profit Motive
Today, I’m talking about the tax laws related to distinguishing between a hobby and a legitimate business when you’re a creative professional. I’m also explaining the IRS's view of profit motive as the key factor and discussing how you can determine whether you have a business or hobby.
Join me in this episode to get some advice and tips on how you can prove profit motive and avoid being wrongly classified as a hobby by the IRS.
LISTEN AND SUBSCRIBE HERE
Today, I’m talking about the tax laws related to distinguishing between a hobby and a legitimate business when you’re a creative professional. I’m also explaining the IRS's view of profit motive as the key factor and discussing how you can determine whether you have a business or hobby.
Join me in this episode to get some advice and tips on how you can prove profit motive and avoid being wrongly classified as a hobby by the IRS.
Also mentioned in today’s episode:
Why profit motive is so important 5:35
The IRS’s nine-factor test for determining if a creative hobby is a business 19:35
The hobby loss rule and how it’s applied 33:07
If you enjoyed this episode, please rate, review and share it!
Links:
IRS audit technique guide: https://www.irs.gov/pub/irs-pdf/p5558.pdf
The Sunlight Podcast Episode 67: Your Business Already Started
An Audit Nightmare Turned Artist Victory: An Interview with Susan Crile
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