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

Check out my program, Money Bootcamp

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 insurance. Whether you’re a new entrepreneur or already deep into running your business, this episode will help you assess your needs and make confident decisions about your structure. Understanding your options as a self-employed business owner can save you time, money, and headaches down the road.

Also mentioned in this episode:

00:00 Understanding Business Structures: LLCs and S-Corps

04:02 Order of Operations in Business

09:58 The Role of LLCs in Business

12:20 Understanding S Corporations

19:00 Final Thoughts on Business Structure and Operations

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

Check out my program, Money Bootcamp

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 bookkeeping, taxes, and staying organized, this episode is packed with everything you need to build confidence and clarity around your money.

00:00 Understanding Bookkeeping for Small Businesses

00:52 The Role of Bookkeeping in Small Business

13:14 Navigating Tax Accounting vs. Financial Accounting

16:34 Creating a Simple Spreadsheet System

19:23 Tracking Deductions and Expenses Effectively

22:41 Building a Sustainable Financial Future

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

Check out my program, Money Bootcamp

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 business. Plus, I give a sneak peek at my upcoming book, Taxes for Humans, where I go even deeper into LLCs, business structures, and all the stuff no one teaches you when you become self-employed.

00:00 Introduction to LLC Myths

04:43 Myth 1: LLCs Change Your Taxes

08:28 Myth 2: LLCs Make Your Business Official

10:25 Myth 3: LLCs Are the Only Protection

13:12 Myth 4: LLCs Are Set It and Forget It

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.

My On-demand class: Make Taxes Easier and Stash an Extra $152k in Your Savings

Check out my program, Money Bootcamp

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 tax.

Also mentioned in today’s episode:

• 00:00 Understanding Income Tax Rates
  
  
• 09:33 The Progressive Tax System Explained
  
  
• 11:58 Marginal vs. Effective Tax Rates
  
  
• 17:04 Calculating Your Taxes Accurately
  
  
• 23:20 Final Thoughts and Resources

Takeaways:

• People confuse marginal tax rates with their actual tax rate.
• Income tax calculations are more complex than they seem.
• Self-employment tax is a flat rate of 15.3%.
• Estimating tax rates requires guessing due to timing.
• Graduated income tax means different rates apply to different income slices.
• Both low and high earners pay zero tax on the first $11,000.
• Marginal tax rates only apply to the last dollar earned.
• Average tax rates provide a more accurate tax estimate.
• Online calculators can simplify tax calculations.
• Self-employment tax should not be double counted in estimates.

If you enjoyed this episode, please rate, review and share it!
Every review makes a big difference by telling Apple or Spotify to show the Sunlight podcast to new audiences.

Links:

Get your FREE Deductions Guide

Today, I’m providing some practical advice on filing a tax extension and how you can do it without getting a penalty. I’m also talking about the importance of relationships in career success as an artist, especially in a world increasingly influenced by AI.

Join me in this episode to learn how you can file a tax extension properly and why you need to be focusing on building relationships in your art career.

Also mentioned in today’s episode:

• The importance of relationships in career success 2:40

• Understanding tax extensions 14:10

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

Links:

Free class for artists: Make Art Anyway: Your 2025 Show Strategy

File an extension request here

Make your extension payment here

In today’s episode, I’m talking about some of the common tax fears I see entrepreneurs encounter and giving you strategies on how you can reduce your tax-related anxiety and feel prepared for tax season.

Join me in this important episode to hear my framework that can help demystify the tax process and make managing your taxes less stressful and more straightforward.

Also mentioned in today’s episode:

• Understanding audits and the statute of limitations 3:34

• Following tax rules and self-reporting 7:52

• Reducing tax fear through education 9:30

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

Links:

• Link to deductions guide

• Link to Money Bootcamp

• Podcast episode links:

• • The Home Office Deduction

  • Can a Massage Therapist Deduct Massages? Education Expenses Explained

  • Don't Forget These Deductions: Cellphone and Internet

  • Don't Forget These Deductions: Parking and Tolls

  • Mileage: The Best Deduction You're Missing

  • How to Deduct Fees, Bandmate Payouts and Gallery Commissions

  • How to Deduct Business Travel

  • How to Deduct Business Meals When You're Self-Employed