Today, I’m talking about how you can use the pain of getting a large tax bill and turn it into an opportunity for financial growth, including funding for your retirement savings and maxing out your IRA contributions. 

Join me in this episode to learn how you can transform your current financial challenges into an opportunity for improvement and how you can make sure you are financially secure. 

Also mentioned in today’s episode: 

• Challenges for not paying quarterly taxes 9:52

• Financial anxiety and economic security 12:34

• Using your current financial situation as a motivator 18:32

If you enjoyed this episode, please rate, review and share it! 

Links:

On-demand class on Making Taxes Easier/Best Deal on my program, Money Bootcamp

Today, I’m talking about the importance of estimated quarterly taxes if you’re self-employed and how you can use the Safe Harbor rule, to help make an accurate tax estimate if your income is different this year from last year. 

Join me in this episode to learn how you can avoid tax penalties and large tax bills by estimating your quarterly taxes as accurately as possible. 

Also mentioned in today’s episode: 

• What is the Safe Harbor Rule? 2:20

• Paying your quarterly taxes based on current year income 9:10

• The benefits of paying quarterly taxes 13:00

If you enjoyed this episode, please rate, review and share it! 

Links:

On-demand class on Making Taxes Easier/Best Deal on my program, Money Bootcamp

Today, I’m giving you a comprehensive January checklist to help organize your taxes if you’re self-employed so that you can have a headstart on your taxes for 2025.  

Tune in to this episode to get a strong start to the tax year and put systems in place to simplify your tax preparation process.

Also mentioned in today’s episode: 

• Why you should check your odometer now 2:11

• Issuing 1099’s and estimated tax payments 6:48

• Maintaining business bank accounts and receipts 10:45

If you enjoyed this episode, please rate, review and share it! 

Links:

Check out my program, Money Bootcamp.

In this week’s episode, I’m sharing some of my biggest tips to make sure you prioritize paying yourself first and funding your IRA as an entrepreneur.  

Join me as I go over some of what you can do to get the most out of your money every year and how you can make sure you’re prioritizing your IRA so you can get that FU money and grow your wealth. 

Also mentioned in today’s episode: 

• What is the triple deadline? 2:05

• How you can make sure you pay yourself first 6:59

• How you can make your tax season easier 9:01

• How to tune up your IRA 16:16

If you enjoyed this episode, please rate, review and share it! 

Links:

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

This week, I’m sharing an episode that aired on the Creative Baggage podcast where I was recently a guest.  

Creative Baggage is a conversation-based podcast giving voice to the unspoken baggage of pursuing a career in the arts.

In this episode, I speak about my career in both the arts and taxes and offer some practical advice on managing your finances as an artist. 

Also mentioned in today’s episode: 

• My background in the arts and how I got started in the tax field 2:05

• The breakeven point in business 14:59

• The importance of forming relationships 22:10

• Creating a community through social media 30:39

If you enjoyed this episode, please rate, review and share it! 

Links:

Check out Creative Baggage: 

https://podcasts.apple.com/us/podcast/creative-baggage/id1514894003

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

It’s easy to get confused when it comes to figuring out what you need to report as income on your tax return. 

Today, I’m going over some of the most common ways to receive money as an entrepreneur and talking about what actually counts as income in your business so you can be prepared for your taxes. 

Join me in this episode to learn more about determining your total income and how you can make sure you report it correctly to the IRS.

Also mentioned in today’s episode: 

• How to know when something is income and when it’s not 9:54

• What is the function of the people you serve? 12:16

• Should you itemize your tax return? 13:55

If you enjoyed this episode, please rate, review and share it! 

Links:

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

Today, I’m sharing my 3 quick and easy tips to make taxes easier for you as an entrepreneur.  

Join me in this episode to learn how you can eliminate stress around filing your taxes and make sure you get the most out of your income. 

Also mentioned in today’s episode: 

• Where you need to focus your energy and attention on 5:35

• Customizing your bookkeeping 10:45

• Working with softwares and what you need to know 13:27

If you enjoyed this episode, please rate, review and share it! 

Links:

Sign up for Money Bootcamp:

https://www.sunlighttax.com/moneybootcamp2023

This week, I'm giving you a quick mini bonus episode to share the details about my training video that teaches you how to make your estimated quarterly tax payment on the IRS website. 

To watch the training video: https://www.sunlighttax.com/payment

Do you need a tax extension and you’re freaking out about it? 

Today, I’m sharing the details about tax extensions for entrepreneurs and what you need to know about filing for an extension before the April tax deadline. I’m also explaining why tax extensions aren’t as bad as you might have thought.  

Join me in this episode to learn some of the top reasons you might need a tax extension and how you can file for one. 

Also mentioned in today’s episode: 

• The difference between filing and paying 2:33

• Reasons for getting a tax extension 6:38

• What you need to be aware of when it comes to tax extensions and the tax deadline 11:58

If you enjoyed this episode, please rate, review and share it! 

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

Today, I’m sharing more about the word “aggressive” and what it means when you’re setting up investments as an entrepreneur.  I’m explaining why and when you might want to focus on more high growth strategies for your investments.  

Join me in this episode to learn why you might be intimidated by the word “aggressive” and how you can push past that to get the most out of your investment preferences.  

Also mentioned in today’s episode: 

• What does the word aggressive mean when it comes to investing? 4:25

• Setting investment preferences 6:06

• How what you were taught as a child can have an impact on your investing now 10:23 

If you enjoyed this episode, please rate, review and share it! 

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

Today, I’m sharing with you some information about the recently passed Secure 2.0 Act and how it can help you stash more FU money and expand your retirement funding. 

Listen to this episode to hear all of the details about the Secure 2.0 Act, how you can take advantage of it with your retirement plan and why it’s so helpful for every tax payer. 

Also mentioned in today’s episode: 

• What is the Secure 2.0 Act? 8:28

• How the Secure 2.0 Act helps with retirement funding 12:15

• How you can take advantage of this act with your retirement 18:45

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/moneybootcamp2023

 I use a service (Guideline) that plugs into my payroll software (Gusto - this is my referral link, and it will save you $100. I *highly* recommend Gusto for running payroll and paying contractors/complying with 1099s/W2s). Guideline is so affordable and streamlined that even as a small employer, I have no trouble maintaining my 401k.

Are you feeling judgement or fear when it comes to your taxes and finances? 

Today, I’m talking about the mental load of financial fear and the anxiety you might have surrounding your taxes or retirement as a creative entrepreneur. I’m also sharing why it’s so important to our creative practice to break through those fears so you can increase your impact in this world.    

Join me to learn more about how you can move past any disorganization and fearful thoughts you have about money and become more organized and financially secure.

Also mentioned in today’s episode: 

• The fear of judgement 4:10

• The mental load of feeling stressed and disorganized 8:45

• How tax planning and taking charge of your finances would change your life 10:55

If you enjoyed this episode, please rate, review and share it! 

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

One of the top questions I get asked in my one to one consultations as a tax accountant for creative entrepreneurs is: Do I need an LLC?

Today, I’m diving into LLC’s and explaining from an accounting perspective the details of why entrepreneurs might consider changing their business status to an LLC and the benefits that come along with it. 

Join me in this episode to learn more about LLC’s and why having one doesn’t define your business status. 

Also mentioned in today’s episode: 

• Single member and multi member LLC’s 3:17

• What is an LLC and what does it do 12:13

• Liability protection 14:50

• The importance of having a separate business bank account 20:46

• The next steps to take after having an LLC 23:08

If you enjoyed this episode, please rate, review and share it! 

Links:

To sign up for the free live class, Understand Your Taxes and Make Money, register here: https://go.sunlighttax.com/free

In this debut episode of 2025, I’m going over some of the new 2025 tax law changes, how they might affect you as an entrepreneur and how you can prepare for these changes. 

Join me today to learn how you can make sure you get a head start on these upcoming tax changes. 

Also mentioned in today’s episode: 

• Mileage tracking 1:52

• Secure 2.0 Act and retirement contributions 5:44

• 1099-K changes 9:49

If you enjoyed this episode, please rate, review and share it! 

Links:

FREE LIVE CLASS 

Make Taxes Easier and Stash an Extra $152k in Your Savings: 

https://go.sunlighttax.com/free

Today, I’m explaining the home office deduction including how you can calculate your own home office deduction when you’re filing your taxes as a creative entrepreneur this upcoming tax season.

Join me in this informative episode to learn a simplified way of calculating this important deduction and how you can make sure you’re getting the most out of it this tax season. 

Also mentioned in today’s episode: 

• What is a home office? 1:51

• Calculating the home office deduction 7:16

• Your deductible home office expenses 8:56

• Personal vs. business time and how to calculate it 14:00

• Calculating mileage when you have a home studio 16:30

If you enjoyed this episode, please rate, review and share it! 

Links:

https://go.sunlighttax.com/free

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.  

Also mentioned in today’s episode: 

• Why you should set apart the full amount of money you want to use to fund your IRA first 9:25

• Paying yourself first and how to do it 11:34

• Why financial security is so important 13:22

• Is it ok to start funding your IRA later in life? 15:27

• Understanding your taxes 26:15

If you enjoyed this episode, please rate, review and share it! 

Links:

https://go.sunlighttax.com/free

Are you a creative entrepreneur who’s been wondering when you should hire an accountant or if you’ll be able to just do your own taxes?

In today's episode, I’m breaking down some of the most common scenarios that you might want to consider actually hiring an accountant and when you can just do your own taxes as an entrepreneur. 

Join me in this informative episode to learn the best times to consult an expert and why using an accountant might save you money in the long run. 

Also mentioned in today’s episode: 

• When it’s a good time to consult an accountant 5:33

• Why it’s not as expensive as you think to hire an accountant 8:30

• Tax returns and what you’re paying for 11:00

• Tax planning and strategy and why it’s important to consult an accountant 21:15

• Understanding your taxes 26:15

If you enjoyed this episode, please rate, review and share it! 

Links:

https://go.sunlighttax.com/free

Today, I’m diving into the second part of paying estimated quarterly taxes and sharing how you can actually calculate what your quarterly payments to the IRS should be. 

Join me to learn how you can determine your payments and why you should stop focusing on perfection and exact numbers. 

Also mentioned in today’s episode: 

• How to get started paying your estimated quarterly taxes 4:40

• Safe harbor rules 17:20

• Paying 90% of last years quarterly taxes 22:22

• Calculating your income tax 25:11

• States and quarterly taxes 27:56

If you enjoyed this episode, please rate, review and share it! 

Links:

Understand your Taxes and Make Money Free Class: 

https://go.sunlighttax.com/free

If you’re a creative entrepreneur, chances are that you might be confused with the idea of paying your estimated quarterly taxes.

Today, I’m breaking down all of the details about estimated quarterly taxes including how to know what you owe and when you need to submit payment to the IRS. 

Join me in this informative episode to learn how you can stay caught up on your taxes and how you can avoid a large, unexpected tax bill.

Also mentioned in today’s episode: 

• What is a pay as you go tax system? 3:11
• How estimated quarterly taxes work 15:42
• The dates you need to know 18:30
• How you can calculate your payment 21:02

If you enjoyed this episode, please rate, review and share it! 

Links:

Understand your Taxes and Make Money Free Class: 

https://go.sunlighttax.com/free

This week, I’m giving you a quick and practical episode answering some of the common questions I’ve received about 1099’s so I can clarify any confusion before this upcoming tax season.  

Join me in this episode to get important details and information about 1099’s including what you should do if you don’t receive one from someone who’s paid you.

Also mentioned in today’s episode: 

• Do you need to report your income when it’s under $600? 3:10
• Correcting incorrect 1099’s 5:42
• What to do if someone refuses to give you a 1099 8:35
• Penalties for not reporting all of your income 18:33

If you enjoyed this episode, please rate, review and share it! 

Links:

1099s class:

Courses.sunlighttax.com/1099

Money Bootcamp, free class and to join:

Go.Sunlighttax.com/register

Preparing for tax season can be overwhelming especially if you’re a business owner. 

In this week’s episode, I’m sharing some of the easy tips I have for you as a creative entrepreneur preparing for tax season.  

Join me in this informative episode to learn the action tips you need to take today to make your tax season seamless and stress-free. 

Also mentioned in today’s episode: 

• How to start tracking your mileage 3:00
• How to set up a plan for your tax documents 6:47
• Organizing your receipts 9:11
• The importance of bookkeeping 10:35

If you enjoyed this episode, please rate, review and share it! 

Links:

Odometer

Mileage app: 

MileIQ code: HCOL124A (20% off!)

1099s class:

Courses.sunlighttax.com/1099

Money Bootcamp, free class and to join:

Go.Sunlighttax.com/register

In this week’s special bonus episode, I’m breaking down any confusion and explaining all of the details you need to know about 1099s as a creative entrepreneur, including whether or not you need to issue one to your independent contractors.  

Join me in this episode to get a head start on the upcoming tax season and to hear about the live workshop I’m hosting to help you get prepared when it comes to 1099s. 

Also mentioned in today’s episode: 

• Different types of 1099s and how to know which one you need 4:12
• The basic rules of 1099s and the penalties for not issuing 1099s on time 5:45
• Exceptions for issuing 1099s 6:28
• ACH transfers 10:47
• Getting a 1099 and W9 14:39
• What you can do today to prepare 17:48

If you enjoyed this episode, please rate, review and share it

Links:

https://courses.sunlighttax.com/1099

https://www.sunlighttax.com/deductionsguide

Today, I’m sharing my thoughts about why it’s so hard for creative entrepreneurs and ethically aligned people to get well served when it comes to money. 

Join me in this episode as I go over the 10 main points and the solutions on how creative and mission-driven people can stop having a bad relationship with money and grow their wealth. 

Also mentioned in today’s episode: 

• Why is it so difficult for us to get on top of our money 2:53
• Mission-driven people and why they can get into a bad relationship with money 5:18
• The difference between having tax knowledge vs bookkeeping knowledge 19:37
• The 3 part system you need to grow your money 23:56
• How its possible for you to have a modest income and big stash of money 28:55

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/free

Bookkeeping and accounting are topics that can intimidate and confuse a lot of entrepreneurs so in today’s episode, I’m deep diving into what bookkeeping really is and why you need it as a business owner. I’m also sharing who actually needs a complicated bookkeeping system and who can stick to something simple. 

Join me in this episode to get a quick lesson on bookkeeping and learn how you can stay ahead of the tax season as a creative entrepreneur. 

Also mentioned in today’s episode: 

• Audited financials and what it means 3:24
• Double-entry bookkeeping and why you probably don’t need complicated things 10:06
• How to break out key categories in a tax return 17:19
• Tracking things for your tax return that don’t get tracked in bookkeeping software 19:13
• Why financial training is important 26:29

If you enjoyed this episode, please rate, review and share it! 

Links:

https://go.sunlighttax.com/free

https://www.sunlighttax.com/deductionsguide

Today, I’m talking about the importance of preparing for tax season specifically when it comes to issuing 1099 forms, including when you need to issue one and the deadline. 

Join me in this episode to learn how and when you need to obtain your W9 forms and issuing your 1099’s from your contractors. 

Also mentioned in today’s episode: 

• 1099 requirements 4:10

• Compiling contractor payments 4:43

• Gathering W9 forms 6:50

• Preparing for 1099 issuance 9:53

If you enjoyed this episode, please rate, review and share it! 

Links:

FREE LIVE CLASS 

Make Taxes Easier and Stash an Extra $152k in Your Savings: 

https://go.sunlighttax.com/free

In this first episode of 2023, I’m sharing some of what the Biden administration has accomplished and the incredible strides that have come from the newly passed Inflation Reduction Act. 

I go into detail on how the Inflation Reduction Act could directly benefit you and why this act is such a big deal for the environment.   

Also mentioned in today’s episode: 

• Why the tax code isn’t equitable 9:46
• Why getting involved in local politics is important 18:38
• The importance of subsidies for clean energy sources 29:40
• Why you might not have to wait for a tax return for your tax credit 31:50
• The health insurance premium tax credit 37:45

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

Taylor Smalls is a contemporary painter who runs her own studio practice based in California.  

In today’s episode, Taylor joins me to chat about how she made the shift from working in architecture to being a full-time artist and what she’s learned along the way with pricing and business structure. 

Join us in this episode as we share valuable tips on making the leap from corporate to creative entrepreneur and how you can learn to communicate the value of your art when selling. 

Also mentioned in today’s episode: 

• What Taylor got a handle on before she took the leap to full-time artist 3:25
• Why getting rid of debt was a motivator 15:15
• Pricing as an energetic exchange 20:31
• Taylor's approach to pricing in the tech space 23:35
• Talking about money in the art world 25:02
• How the art world can be intimidating to the buyer 27:36
• Communicating the value of your art 33:35

If you enjoyed this episode, please rate, review and share it! 

Links:

IG: @Taylor.Smalls

http://www.taylorsmalls.com/

Steal Like an Artist 

https://go.sunlighttax.com/register

Today I’m talking about a subject that can trigger people and bring up a lot of emotions: pricing. 

In this follow up to episode 20, where I spoke about my personal pricing journey, I’m sharing the pricing phrases and boundaries that have helped me as a creative entrepreneur.  I’m also giving you some actual wording that I have used in past business interactions that you can use as a template for yourself when you are talking with clients. 

Also mentioned in today’s episode: 

• The backstory of how I learned to set boundaries and how I learned pricing phrases 3:20
• The importance of speaking in a professional language 7:46
• Negotiating to come to an agreement 10:07
• The phrases that have helped me in my work 16:57
• Responding to people who ask for a discount and scope creep 22:50

If you enjoyed this episode, please rate, review and share it! 

Links:

Year-End Tax Planning Checklist: 2022 Edition

https://www.sunlighttax.com/deductionsguide

As year-end approaches, I’m sharing how you can create a financial end of year strategy for yourself as a creative entrepreneur and how you can plan for your taxes to maximize the amount of cash you make.  

Join me in this value-packed episode to learn how to get a head start on your taxes now.  

Also mentioned in today’s episode: 

• How you can reduce your taxable income 7:08
• Itemized deductions 9:14
• What you need to do at year end 11:53
• Why you should start planning for your taxes now 13:58
• 1099’s and how to get ready for them 18:41
• How to prepare for taxes with W9’s 21:20

If you enjoyed this episode, please rate, review and share it! 

Links:

Year-End Tax Planning Checklist: 2022 Edition

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/register

In today’s episode I’m reflecting on my business and some of the lessons I’ve learned while being a creative entrepreneur including some of the pivots I’ve made to my flagship program, how my pricing has changed over the years and my reasons behind it.  

Join me in this episode to hear more about the backend of my business and how you can find the perfect pricing that aligns with you.  

Also mentioned in today’s episode: 

• Taxes are the part of business you can’t avoid 5:37
• Why pricing is so difficult to get right as an entrepreneur 11:13
• How raising your price can help get you the perfect clients 14:37
• Why I lowered my prices 20:19
• How I tested new ways of teaching 32:25
• Group coaching sessions vs. live classes 35:00

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/register

Imagine (Sneha Shrestha) is an artist, educator and social entrepreneur from Kathmandu, Nepal. She established Nepal’s first Children’s Art Museum and worked at Artists for Humanity. Sneha recently graduated from Harvard Graduate School of Education with a Master’s degree in Education.  

Sneha is also known as IMAGINE in the art world and has established herself as Nepali street artist meshing the Nepali alphabet and the Boston graffiti scene. Imagine has redefined the Nepali alphabet and given it a new identity through graffiti. Being the first to mesh American Graffiti with Nepali Alphabets, she has shown her work in several exhibitions, commissioned works and public walls around the world including Boston, San Francisco, Bali, Istanbul, Geneva and Copenhagen. 

On today’s episode, Imagine joins me to talk about her art and her entrepreneurial journey including managing her money as an artist and creative entrepreneur. We talk about being real, what savings opens up for your creativity, and what success actually looks like.

Also mentioned in today’s episode: 

• Imagine’s background 1:10
• Learning fast and failing fast for success 8:17
• Perfectionism and why it’s holding you back 20:13
• How street art is different than gallery art 26:24
• What Sneha has found most useful when managing her money as an artist 32:04

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.imagine876.com/

https://www.instagram.com/imagine876/

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/register

Gretchen Carder is the owner of Good Quilt and a member of Money Bootcamp. Gretchen has a background in graphic design and now works with textiles as a quilter.  

On today’s episode, Gretchen joins me to talk about her experience transitioning from corporate to working with textiles as a creative entrepreneur, how her decision to join Money Bootcamp helped her gain clarity and confidence in her finances, and why bookkeeping is such an essential part of entrepreneurship.    

Also mentioned in today’s episode: 

• Gretchen’s background 1:48
• Her decision to join Money Bootcamp and what made her join 2:25
• What Gretchen’s business looked like prior to joining Money Bootcamp 5:38
• How bookkeeping can be considered self-care 10:15
• How Money Bootcamp has helped Gretchen gain sustainable income 12:51

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

https://www.goodquilt.store/

https://go.sunlighttax.com/register

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. 

Also mentioned in today’s episode: 

• Why waiting costs you money 2:15
• Why perfectionism is holding you back 2:40
• Why financial security is so important 6:25
• What is a cost curve? 7:47
• Why investing is a long term game 9:25
• The power of compounding 12:03

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/register

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.

Also mentioned in today’s episode: 

• Why you should have a plan for your money 2:14
• The magic benefits of capitalism 6:45
• The major buckets of money you should be funding, and in what order 11:05
• The Power Triangle of maximizing your money 22:35

If you enjoyed this episode, please rate, review and share it.

Links:

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/register

In today’s episode of the Money School Bonus Series, I’m explaining what self-employment tax is, why tax deductions are so important as a creative entrepreneur and how they save you more money than you may think. 

Join me in this informative episode to learn the details about self-employment tax and how you can make sure you’re getting the most out of your deductions each year. 

Also mentioned in today’s episode: 

• Understanding self-employment taxes 1:23
• Tax brackets and what they actually mean 3:44
• The average tax rate for self-employed people 6:16
• Self-employment taxes explained 10:52
• Why you need to be tracking all of your expenses 13:02
• Getting the most out of your deductions 22:11

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

https://go.sunlighttax.com/register

In today’s episode, I’m talking about the importance of understanding the April 15 tax deadline, which serves as a triple deadline for self-employed individuals and giving you some tips on how you can be prepared. 

Join me in this episode to learn how you can avoid financial stress and plan ahead to have the necessary funds for the April 15th deadline.

Also mentioned in today’s episode: 

• The triple deadline of April 15 2:05

• The importance of funding your IRA 5:15

• Budgeting for tax payments and IRA funding 7:55

• Practical tips for tax planning 15:18

If you enjoyed this episode, please rate, review and share it! 

Links:

A good online income tax calculator

Episode 30: Estimated Quarterly Taxes: Breaking it Down

Episode 31: Estimated Quarterly Taxes: How to Calculate Your Payments

Receipts. Your tax return. Bookkeeping. In this week’s episode and part of the Money School series, I’m sharing three different systems that you need for your business when it comes to managing taxes so you can get more organized and be less stressed. When you understand the difference between these three things, you will stop wasting time, and you will instantly feel more organized.

I’m also explaining why you might be getting confused as a creative entrepreneur during tax time and how you can take control of your finances with some actionable steps and tools. 

Also mentioned in today’s episode: 

• What are receipts and why are they so important 5:14
• Third party verification 8:00
• Why bookkeeping is so critical if you’re self-employed 12:35
• The difference between bookkeeping and taxes 14:45
• Building your own tax spreadsheet 23:00
• Understanding the why behind your bookkeeping 25:20

If you enjoyed this episode, please rate, review and share it.

Links:

https://go.sunlighttax.com/register

https://www.sunlighttax.com/deductionsguide

In this week’s bonus episode, I’m giving you all the details about how you can take advantage of President Biden’s Student Loan Forgiveness plan for your federal student loans, including how you can apply, what you need before applying and if you qualify.  I also give a hot tip on getting your application processed faster.

Join me in this practical episode to learn all the details of this program and get an action plan for your federal student loan debt!

Also mentioned in today’s episode: 

• What is the Federal Student Loan Relief and how does it work 1:56
• Why you should apply now 5:22
• Which loans qualify 7:15
• How to access the system so you can apply and how long it takes to process 13:14

If you enjoyed this episode, please rate, review and share it! 

Links:

https://studentaid.gov/debt-relief/application

https://go.sunlighttax.com/register

If you’re a creative professional and entrepreneur, you’ve probably had a negative encounter with an accountant before where they didn’t take your business seriously.  

In today's episode and the first segment of our Money School Series, I want to talk about what accountants typically get wrong about creative people and why you might feel judged or alienated when it comes to your financial statements. I’m also offering advice on how to break past your shame and get in control of your own money. 

Also mentioned in today’s episode: 

• Why accountants and creative people are so different from one another 2:45
• Balance sheets and why they’re important to creative entrepreneurs 7:14
• What can happen when you present your profit and loss statement to the accountant 9:30
• Gretchen Carder’s story about her accountant 13:56
• Having the power to control your own money as a creative 19:44
• Why you shouldn’t feel shame and why you’re not broken 22:13

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.goodquilt.store/

https://www.sunlighttax.com/podcast

https://www.sunlighttax.com/deductionsguide

Today, I’m interviewing 2 candidates running for 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. 

In this episode, Maggie, Jasmine and I talk about why local elections are so important, how you can get involved, and how even the tax code is proof that representation matters. 

Also mentioned in today’s episode: 

• Jasmine’s background and vision 
• Maggie’s background and vision
• Why the tax code represents only the people who were in the room when it was passed
• Why local elections matter and what city government does 
• County level politics and what it includes 
• How priorities translate from local to national politics 
• How you can get involved in your local area to get candidates you care about elected

If you enjoyed this episode, please rate, review and share it! 

Links:

Connect with Jasmine and Maggie: 

Jasmine’s website: https://www.jasmineforcongress.com/

Maggie’s website: https://www.maggie4avl.com/

If you’re a creative entrepreneur, you may be confused about itemizing vs business deductions, and whether to itemize or take the standard deduction when you’re filing your taxes. 

Today, I’m diving into the details of business deductions and itemizing as a creative, the differences between the two, and exactly how to know if you should be itemizing. I’m also sharing the civic side of taxes and some of the built-in biases that exist within our tax system.    

Also mentioned in today’s episode: 

• Schedule C and who gets to file it 3:09

• What are business deductions 6:25

• The standard deduction for 2022 12:09

• What are itemized deductions 14:25

• The difference between itemized deductions and business deductions 22:05

• The equity issues behind itemized and standard deductions 23:36

• Why the tax code favors home ownership 29:10

• Exactly how to know if you itemize 32:40

If you enjoyed this episode, please rate, review and share it.

Links:

https://www.sunlighttax.com/deductionsguide

Most creative people are motivated to make incredible work. We might even strive for perfection.

In this episode, I’m talking about how perfectionism is actually holding you back as a creative entrepreneur.

I share a vulnerable story about my own perfectionism, talk openly about real fears you may be having, and some actionable ways you can get past them, and get the most out of your money and keep moving forward. I’m also sharing how the topic of perfectionism relates specifically to the IRS (guess what? The IRS doesn’t ask you to be perfect!), to your estimated quarterly taxes, and why you should stop worrying about being perfect when it comes to your taxes.

Also mentioned in today’s episode: 

• Understanding the balance between doing good work and 
• How a desire to good do work relates to perfectionism in the art world
• My personal story of perfectionism 
• Why you should stop trying to be perfect when it comes to your taxes 
• How perfectionism will mess up your estimated quarterly taxes
• What the IRS really cares about 

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

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 should you 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. 

Also mentioned in today’s episode: 

• What is an IRA 2:31
• Why you should prioritize your workplace 401k first 3:08
• Roth IRA vs Traditional IRA as a self-employed creative entrepreneur 5:48
• Tax shelter- what is it and how does it work? 6:10
• The importance of investing your money 7:30
• Does it matter which one you choose? 17:30

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/sunlight-tax-master-class

https://www.sunlighttax.com/deductionsguide

In this week’s bonus episode, I’m breaking down what’s currently going on in the economy right now both in the US and globally including whether or not we’re heading toward a recession and how you can benefit from one.  I’m also deep diving into some of the common economic terms like inflation and interest rates, and how it affects you as a creative entrepreneur. 

Listen in to hear some important and exciting information about my program Money Bootcamp! 

Also mentioned in today’s episode: 

• Are we heading toward a recession and what is a recession? 4:40
• Will a recession affect you as a creative entrepreneur? 6:10
• How you can benefit from a recession 7:23
• Why interest rates are rising 8:01
• What’s happening economically globally 15:17
• I Bonds 20:40
• My program Money Bootcamp and how it’s changed 24:14

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.youtube.com/channel/UCfBU4e2kjX_FEUkEzqbEuRw/videos

Paddy Johnson is a writer, educator and the founder of VVrkshop, an online platform designed to help artists and art professionals connect with other artists, get more shows, residencies and grants.  

In today’s episode, Paddy and I talk about some of the inherent problems facing professional artists today and why it’s so important to build a strong network and community when working as a career artist.   

Also mentioned in today’s episode: 

• Conservatism in the art world 3:41
• Finding the right program for you as an artist 7:38
• Income inequality in the art world 12:00
• Why you should be asking for more money as a creative 16:36
• The importance of a network and community when working as an artist 22:01
• Confidence as an art professional 27:30
• How to effectively network and build relationships 33:07
• VVrkshop and Netvvrk and the reason why Paddy started her programs 41:47

If you enjoyed this episode, please rate, review and share it! 

Connect with Paddy: 

Paddy’s website: https://www.paddyjohnson.com/

Paddy’s membership: https://www.vvrkshop.art/

I often see a lot of 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.  

Also mentioned in today’s episode: 

• Why the first year in business is a very tax advantaged year 2:50
• How to know when your business has officially started according to the IRS 4:18
• When to file your first Schedule C 7:05
• Normalizing the idea of spending money before earning a profit as a sole proprietor  10:44
• The economic and business idea of a breakeven point 14:56
• Income tax and how the IRS defines a business and the importance of profit motive 19:28

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

Today, I’m continuing my series about year-end tax saving tips and talking about charitable contributions and their tax implications for self-employed individuals including strategies for maximizing your charitable contributions. 

Listen to this episode to get all the information you need to maximize your charitable donations and to learn the tax limitations of donating your creative work.  

Also mentioned in today’s episode: 

• Itemized deductions vs. standard deductions 2:30

• Strategies for maximizing your charitable contributions 12:44

• Donating creative work and tax implications 15:03

If you enjoyed this episode, please rate, review and share it! 

Links:

Qualified tax exempt organization search

Mutual Aid: All the Tax Info You Need

Today, I’m talking about one of the best tax deductions you should be taking as a creative entrepreneur and one that often gets missed: the mileage deduction. 

In this episode, I explain why you should track business mileage for your taxes and how to get the most out of this tax deduction. I’m also sharing some easy, actionable steps for you to get started with keeping track of your mileage today. 

Also mentioned in today’s episode: 

• The two different ways you can take mileage deduction 3:04
• Why mileage can be such an awesome tax deduction for entrepreneurs 5:55
• How to make keeping track of your mileage easy 6:39
• Keeping track of your mileage in 2022 8:58
• Actionable tips for getting started with mileage today 10:05

If you enjoyed this episode, please rate, review, and share it! 

Links:

https://www.sunlighttax.com/deductionsguide

Erika Hess is a painter, curator and the host of the I Like Your Work Podcast. Her paintings and drawings center around gender, motherhood and the environment.

In this episode, Erika and I talk about the emotions in her work, what she’s learned through her experience and why it’s so important to have a community behind you as an artist. 

Also mentioned in today’s episode: 

• Widening the space as an artist 3:48
• Erika’s background and her current work 6:41
• How feelings and emotions are intertwined in Erika’s work 12:09
• Being a mother and a painter 14:36
• The importance of community in art, especially as a woman 20:50
• How the I Like Your Work Podcast started and what it’s taught Erika 25:50
• Erika’s membership and what encouraged her to start one 37:45
• The importance of boundaries as an artist 44:53

If you enjoyed this episode, please rate, review and share it! 

Connect with Erika: 

Erika’s work: https://www.erikabhess.com/

Erika’s podcast: www.ilikeyourworkpodcast.com/home

Erika’s membership: https://www.ilikeyourworkpodcast.com/yourlisteners

Hello and welcome to the first episode of Sunlight! 

When I first started working as a visual artist, I found it impossible to get good financial and tax information, and that’s what eventually led me to starting my company Sunlight Tax, where I help self-employed creators with bookkeeping, and everything tax- and finance-related. 

I know firsthand how taxes and money can be difficult topics for creative freelancers, which is why in this episode, I’m going over the top 10 insights I’ve gained as an accountant doing the taxes of creative entrepreneurs. I’m also diving into why it’s so important for you to gain good financial information as a working artist.  

Also mentioned in today’s episode: 

• What led me to start my tax company Sunlight Tax 1:03
• Why it’s normal to have feelings about money 6:09
• Does money really make you happy? 9:52
• Regressive vs. Progressive tax 21:50
• The benefits of having a Roth IRA 23:14
• Why outsourcing as a creative entrepreneur can be beneficial 27:08
• The W9 and1099 tax forms and income tax as a freelancer 32:44
• Self employment tax as a freelancer 34:20
• How taxes differ as a sole proprietor or single member LLC 39:33

If you enjoyed this episode, please rate, review and share it! 

Links:

https://www.sunlighttax.com/deductionsguide