tax time

They say nothing is certain but death and taxes; however, there was one thing they forgot... a kickass podcast. In this episode, René gives you the essential tips that will help you save money and make an impact for you this tax season. Next, Darryl explains how your website can make or break your business. Then the guys chat about the taboos of sex... and we learn how the Sears Christmas Wishbook catalogue shaped their sexual desires.  

 Money management is one of the most important aspects of running a successful business—yet so many founders either put off creating a proper system for managing their financials (until tax time), or get totally consumed by their overwhelm. Taylor Bitsoli, a professional bookkeeper and Founder of The Bookkeeping Brunette, joins us today to break down what business owners can do to improve the way they manage their company’s finances (and to make the process feel a little less daunting).   

This podcast may be brand new but we’re already looking for ways to improve it and give you the best resources possible! We want to hear from you. Send us comments or questions (notrichyetpod@gmail.com) or DM us on social media (links below). Most importantly, don’t forget to subscribe and rate our show! 

INSTAGRAM: http://instagram.com/notrichyetpod 

YOUTUBE: https://www.youtube.com/@notrichyetpodcast5835/featured 

Tax time does not have to be fear and panic-inducing, but as a new business owner, the upcoming tax season can be scary! Today Modern CPA and Kara Renninger discuss some common tax concerns and tips to help you get prepared.

1. Be Proactive! Take the time to organize your expenses whether you've started a separate business account or not. Document and keep track of all of your business expenses and income so you have what you need for your tax professional or DIY software.
2. Understand Deductions! Do you know what deductions you qualify for? Educate and be aware of the deductions you can use so you have appropriate information when filing. 
3. How will you file? Does your business need to file its own taxes or are you a single entity or independent contractor whose taxes will pass through personal taxes?
4. Understanding Taxes. In many businesses, especially independent contractors or side hustles you will pay self-employment tax on your business which is about 15.2% because you are paying both sides of what an employer would normally be responsible for half of.

So are you ready for tax time? These were just a few big tax-time tips. Check out our free online quiz, at ModernCPAOnline.com/Quiz, to find out if YOU are ready!

What’s Inside: 

• How to get ready for tax time.
• Tax tips for small businesses and independent contractors.
• Are you ready for tax time? Take the Modern CPA quiz.
• What you need to know when filing your new business taxes.
• Are you aware of the deductions your business qualifies for?
• What is self-employment tax and why do you have to pay it?

Mentioned In This Episode:
Free Online Masterclass 3 Big Financial Mistakes New Business Owners Make
Take This FREE 60 Second Quiz To Find Out “If Your Business Is Ready For Tax Time?”
Modern CPA Online
ModernCPA - YouTube

It's tax time baby – so if money chats make you break out in anxious hives, this is the episode for you. Whatever has happened in the last Financial Year, this is a re-fresh. A new beginning – and we're going to talk you through it.

LINKS 

• Read 'Research reveals half of Australians stressed out by tax time' from Kochie’s Business Builders
• Follow @thespace_podcast on Instagram   
• Watch @thespace_podcast on TikTok  
• Follow @novapodcastsofficial on Instagram  

CREDITS 
Host: Casey Donovan @caseydonovan88 
Writer: Amy Molloy @amymolloy 
Executive Producer: Elise Cooper 
Editor: Adrian Walton 

Listen to more great podcasts at novapodcasts.com.au   

See omnystudio.com/listener for privacy information.

When tax time rolls around, we all want to make sure we're getting as many dollars back on that sweet return as we possibly can. That's why Helen Baker is here to tell you about 7 things you might not know you can claim on tax!

CREDITS

Host: Rachel Corbett
Contributor: Financial adviser and founder of On Your Own Two Feet, Helen Baker. Check her out on Instagram @onyourowntwofeet or head to her website https://onyourowntwofeet.com.au/.
Managing Producer: Elle Beattie
Lead Producer: Edwina Stott
Producer and Editor: Amy Kimball

This episode of Small Change does not constitute financial advice or take into account individual circumstances. Always seek your own independent financial advice. 

See omnystudio.com/listener for privacy information.

Alison Stanbridge is an authorized representative of Count Financial Limited, AFSL 227232. The information provided in this recording is general advice only and does not take into account your financial situation, needs and objectives. Before making any decision based on this information, you should consider how appropriate the advice is to your particular financial situation, needs and objectives and seek advice from a financial planner and tax agent. Information is current at the date of the recording and may change. The tax information provided is in Alison’s capacity as a Chartered Accountant working as an employee of dmca Pty Ltd and not in her capacity as an authorized representative of Count Financial Limited.

Alison works at DMCA Advisory and can be found on LinkedIn and Facebook.

If you want to budget better or check out your credit score, Download the WeMoney app. It's free! 

Have you got a question or an idea of a topic for us to cover? Get in touch via our Instagram @getwemoney . We love hearing from you.

If you enjoy the show, we'd love if you could write a review on Apple podcasts to help other people just like you find us and get better with their finances.

If all this money chat has inspired you to take care of your finances, then Download the WeMoney app. It's free! Use the referral code 'PODCAST' when you sign up to receive $5 when you connect a valid financial account.

Disclaimer
We Talk Cents is not a financial advisor and the information provided is general in nature and was prepared for information purposes only. This podcast should not be considered to constitute financial advice. Accordingly, reliance should not be placed on the podcast as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation.

Need Help?
If you are struggling with your finances, call the National Debt Helpline on 1800 007 007 for free financial counselling.

Dave & Chris reconvene to discuss Moon Knight, Stranger Things, and... Tax Time? What would you pay for a mobile taco delivery service? A million? Two million? Let's go!

Tax season has arrived, it’s time to get your finances organized and ready for your accountant. In this episode, we’re sharing a checklist for getting your tax documents ready and tips on how to do that.

Finish any open accounting in your business this year. Record all your activity, reconcile all accounts and be sure all your banking, credit cards, and loans are ready to go.

Determine your expenses. What financial activity are you using for deductions? Record and document all expenses such as client meals or business mileage in your personal vehicle.

Employee and Contractor documents. You have until January 31st to remit 1099s to independent contractors. It’s important to double-check for W9 documents and get those documents in order as soon as possible. Additionally, you are sure to finish up the payroll return and distribute W-2s in a timely manner.

Fixed Assets VS. Expenses. Vehicles, furniture, fixtures, and technology can be seen as Fixed Asset which you claim and depreciate each year. Determine the cost of these assets and determine if they can be written off as an expense or if they need to be a fixed asset.

What about retirement? Hopefully, you’ve been talking with your accountant throughout the year and you have a plan in place and know when things are due. If not, determine what’s the best plan for you and how you can pay into that.

How long should you keep receipts? The short and conservative answer is 7 years. It does not have to be paper copies, all documents can be scanned and kept digital. This time period will take you well past any requirements and keep you safe in the event of an audit.

As you're going through this tax season be sure to not your setup and system of documents, make sure it's efficient and well organized. Whether you prefer paper copies or digital files, use this year to perfect and maintain your system to continuously provide quick and correct documents to your accountant year after year.

What’s Inside: 

• How to prepare for tax season.
• What items should you use for deductions?
• How to organize and report banking.
• How long should you keep receipts and financial documents?

Mentioned In This Episode:
Modern CPA Online

3 TAX TIME TIPS TO GET YOU STARTED

It's tax time in the U.S. (and probably everywhere). That means it's time to get your Business Expenses & Gross Revenue organized. It all starts with some fundamentals.
We've got 3 Basic Tips to help you get started.

Learn More about our 2022 Business Expense Workshop.

Proud Sponsor: 

Picture this: you can pay for the things you need AND you lower your tax bill at the same time. Almost sounds too good to be true right? Well, Molly Benjamin is here to tell you how salary packaging could do just that for you.

CREDITS

Host: Rachel Corbett
Contributor: Founder of Ladies Finance Club Molly Benjamin. Check her out on Instagram @msmollybenjamin or head to her website ladiesfinanceclub.com
Managing Producer: Elle Beattie
Lead Producer: Rachael Hart
Producer and Editor: Amy Kimball

This episode of Small Change does not constitute financial advice or take into account individual circumstances. Always seek your own independent financial advice.

See omnystudio.com/listener for privacy information.

Tanya Christie is the Tax Queen over at Fullstack Advisory.

Tanya is not a financial advisor, all information she shares is general in nature and should not be constituted as financial advice.

Have you got a question or an idea of a topic for us to cover? Get in touch via our instagram @getwemoney . We love hearing from you!

If you enjoy the show, we'd love if you could write a review on Apple podcasts to help other people just like you find us and get better with their finances.
If all this money chat has inspired you to take care of your finances, then Download the WeMoney app. It's free! Use the referral code 'PODCAST' when you sign up to receive $5 when you connect a valid financial account

Disclaimer
We Talk Cents is not a financial advisor and the information provided is general in nature and was prepared for information purposes only. This podcast should not be considered to constitute financial advice. Accordingly, reliance should not be placed on the podcast as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation.

Need Help?
If you are struggling with your finances, call the National Debt Helpline on 1800 007 007 for free financial counselling.

Have you got a question you'd like to ask Tanya Christie , the Tax Queen?
Submit your tax questions via our instagram, or email. Please note that all information shared will be general in nature and will not constitute as financial advice.

Have you got a question or an idea of a topic for us to cover? Get in touch via our instagram @getwemoney . We love hearing from you!

If you enjoy the show, we'd love if you could write a review on Apple podcasts to help other people just like you find us and get better with their finances.

If all this money chat has inspired you to take care of your finances, then Download the WeMoney app. It's free! Use the referral code 'PODCAST' when you sign up to receive $5 when you connect a valid financial account

Disclaimer
We Talk Cents is not a financial advisor and the information provided is general in nature and was prepared for information purposes only. This podcast should not be considered to constitute financial advice. Accordingly, reliance should not be placed on the podcast as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation.

Need Help?
If you are struggling with your finances, call the National Debt Helpline on 1800 007 007 for free financial counselling.

The end of the year is a great time for some self-reflection... to see what worked, and make some change for the year ahead. Of those who set financial goals for the year ahead, only 80% actually end up keeping them for even the first six weeks of the year. When it comes to our finances there are many tools we can use from an annual bank statement, or credit card statement, to even meeting with a professional tax consultant.

We are going to talk with principal tax partner, Tony Wolff, who is going to help us with all things end-of-year finances. From tax deductions and tax credits, and how to reduce the risk of an audit, to monies we need to claim taxes on, how that stimulus check may or may not affect us, how to set up a budget, and so much more!

Connect with Tony online or by email at info@wolfftaxcpa.com.

Visit www.hollycurby.com for more information and to sign up for the monthly Holly's Happenings e-newsletter. Holly's Highlights podcast and the opinions and ideas shared within it are for entertainment purposes only. The advice should be confirmed with a qualified professional.