How to Have It All
Sunlight Tax
Have you ever wondered how you can have it all in your life and business? In this throwback episode of the Sunlight Tax Podcast, I’m talking about focus as an entrepreneur and how I use metrics in my business to decide what to focus on next. Listen to this episode to learn how you can use metrics to have it all and why you need to be focusing on one thing to get your best work. Also mentioned in today’s episode: Why you should focus on one thing at a time 8:30 Why batching is so important 13:58 Repetition and how it can help you in business 19:36 The decision...
info_outline
What Counts As Taxable Income
Sunlight Tax
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 this episode: 00:00 Understanding Tax Obligations for Self-Employed Individuals 10:36 What Counts as Income: Key...
info_outline
The Mental Load of Financial Fear
Sunlight Tax
Do you feel overwhelmed, fearful, or even judged when it comes to your taxes and finances? In today’s episode of the Sunlight Tax Podcast, I’m diving into the mental load of financial fear, specifically the stress that comes with managing taxes, saving for retirement, and planning financially as a self-employed or creative entrepreneur. We'll explore how this hidden anxiety can weigh down your creative energy and limit your impact. If you’ve ever felt disorganized or anxious about money, tune in to learn practical ways to overcome that fear, get organized, and become financially...
info_outline
When Do You Actually Need an Accountant?
Sunlight Tax
In this episode of the Sunlight Tax Podcast, I share when it makes sense to hire a professional accountant versus handling your taxes on your own, and why understanding your taxes is so important, especially during life changes like getting married, relocating, or experiencing major income shifts. I dive into essential tax planning strategies for creative entrepreneurs, freelancers, and small business owners. I also break down complex tax situations that often require expert guidance, and explore the pros and cons of using tax software versus working with a tax professional. Also...
info_outline
Is It Time to Form An S Corp?
Sunlight Tax
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. ...
info_outline
The Right Step at the Right Time (Business Operations: What Comes First?)
Sunlight Tax
In this episode of the Sunlight Tax podcast, I dive into the essentials of choosing the right business structure for anyone in self-employment, especially when it comes to forming an LLC or electing S-Corp status. I highlight why it's important to avoid unnecessary business formations and walk you through the proper order of business operations—reminding you that your business officially begins the moment you start advertising. I also share practical tax advice, including how different structures impact your taxes, and offer tips on bookkeeping and protecting yourself with liability...
info_outline
What Small Business Bookkeeping is Actually For
Sunlight Tax
In this episode, I’m diving into the essentials of bookkeeping specifically for small business owners who want to take control of their finances without the overwhelm. I break down accounting basics like the difference between financial accounting and tax accounting, and I explain when (and if) you actually need audited financial statements. We’ll talk about how to simplify your DIY bookkeeping process, stay on top of your taxes, and make tax preparation less stressful. If you're a small business owner, freelancer, or creative entrepreneur looking for practical tips on...
info_outline
LLC Myths: The Truth About LLCs and Taxes
Sunlight Tax
In this episode of the Sunlight Podcast, I’m unpacking some of the biggest myths I hear about forming an LLC. If you're self-employed or thinking about business formation, it's so important to understand what an LLC really is—and what it isn't. I talk through common misconceptions about taxes, liability protection, whether an LLC makes you a “real” legal entity, and how much ongoing accounting or paperwork is actually needed. I also share why business insurance is still essential (yes, even if you have an LLC), and how good financial advice can help you make smart choices for your...
info_outline
My #1 Tip After Filing Your Taxes
Sunlight Tax
In today’s episode of the Sunlight Podcast, I’m sharing why it’s so important to review your tax return—even after you’ve filed. We’ll also chat about the power of taking a digital detox during the busy tax season to help you reset and recharge. I’ll walk you through how to understand the key sections of your tax return, what tax estimates really mean, and how to reconcile what you owed with what you paid. Plus, I’m offering some simple, practical strategies for adjusting your future payments if your income changes—so you can feel more confident, prepared, and in control come...
info_outline
Understand Your Tax Rate
Sunlight Tax
Has calculating your income tax rate in the past been overwhelming? Today, I’m going to discuss the complexities of income tax rates, particularly for self-employed individuals. I explain the progressive tax system, the difference between marginal and average tax rates, and provide practical tips for calculating taxes accurately. The conversation aims to demystify tax calculations and empower listeners with knowledge to manage their finances effectively. Join me in this episode to hear some tips on estimating your income tax rate and how you can avoid errors when calculating your income...
info_outlineHave you ever wondered how you can have it all in your life and business?
In this throwback episode of the Sunlight Tax Podcast, I’m talking about focus as an entrepreneur and how I use metrics in my business to decide what to focus on next.
Listen to this episode to learn how you can use metrics to have it all and why you need to be focusing on one thing to get your best work.
Also mentioned in today’s episode:
-
Why you should focus on one thing at a time 8:30
-
Why batching is so important 13:58
-
Repetition and how it can help you in business 19:36
-
The decision metric I use when deciding to take on a new project 39:40
Takeaways
-
You can have it all, but you can't have it all at once.
-
Focus on your current capacity and what will increase it.
-
Specializing in one area can lead to greater success.
-
Batching tasks can help maintain focus and efficiency.
-
Repetition is essential for mastering skills in business.
-
Context switching can drain your cognitive resources.
-
Editing your business can simplify operations and enhance focus.
-
Metrics are crucial for tracking progress and improving processes.
-
Your vision should guide your business decisions.
-
Don't stress about everything; focus on one thing at a time.
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 Tax 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
Check out my program, Money Bootcamp