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Author: Hannah Cole

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Making money isn’t usually the top priority for big vision creators — making a difference is.

But without financial power, the diverse and unique solutions that you bring to the world as a creative entrepreneur aren’t able to see the light of day. And you are left burned out and exhausted.

This show is designed for the big vision creators — artists, designers, freelancers, and purple-haired, punk rock weirdos — to answer the question: “If you had your taxes, retirement, and investing on lock, how big of an impact could you make on the world with your creative work?”

Your host, Hannah Cole, is both an artist and a tax expert, and the founder of Sunlight Tax. In each episode, she and her guests will explore the connection between financial power and creative success, uncovering the unique money mindset and financial management shifts that help creators like you have a bigger impact with your work. From what you need to know about self-employment taxes and bookkeeping, to unlocking your vision, you'll have everything you need to become more successful — and have a bigger impact — in your creative career.

Hannah has supported thousands of creatives with accessible tax and business setup skills through her signature program, Money Bootcamp. You can learn more at sunlighttax.com and connect on Instagram at @sunlighttax.

If this sounds good to you, please subscribe to the show, and share it with a friend.
139 Episodes
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Today, I’m talking about the importance of understanding and managing your estimated quarterly taxes as a self-employed individual and addressing some of the common fears associated with making estimated payments.    Join me in this episode to learn how you can set up your quarterly payments to avoid a large tax bill and the stress that comes along with it.    Also mentioned in today’s episode:    How quarterly taxes 10:04 Common mistakes and reporting issues 10:30 Reconciliation and tax return process 10:45    If you enjoyed this episode, please rate, review and share it!  Links:   Check out my program, Money Bootcamp.
  Today, I’m talking about the common problem of receiving an incorrect 1099 as an entrepreneur, including what you need to look for and how you can make the corrections to avoid any problems with filing your taxes.    Join me in this episode to get all of the details needed for correcting any 1099s that may have errors and what you can do to avoid any issues with filing.    Also mentioned in today’s episode:    Steps to correcting a 1099 6:30  Handling discrepancies in 1099s 12:10  Reimbursed expenses and 1099 reporting 14:47   If you enjoyed this episode, please rate, review and share it!  Links: Farnoosh Torabi's Book to Brand conference in NYC   My quick, easy 1099s course Check out my program, Money Bootcamp.
Have you been wondering what’s going on with the Corporate Transparency Act? Today, I’m diving into the newest update of the Corporate Transparency Act and Beneficial Ownership Information Report, including what you need to do as an entrepreneur to stay proactive.   Listen to this episode to get your up-to-date information on BOI Reporting and how you can make sure you avoid any penalties that may pop up.    Also mentioned in today’s episode:    Impact on small LLC’s 3:30 Legal challenges and court rulings 4:08 Recommendations for business owners 9:41   If you enjoyed this episode, please rate, review and share it!  Links:   Free Mini-Course on New Rules for LLCs/BOI Report   Check out my program, Money Bootcamp.
Today, I’m going over the importance of issuing 1099 forms if you’re self-employed, including who needs to receive them, the deadlines and penalties involved if you miss it.    Tune into this episode to get an understanding of the 1099 process and to get strategies to simplify issuing 1099s, so you can stay organized and avoid any penalties.    Also mentioned in today’s episode:    Types of 1099 forms and their uses 5:30 Who needs a 1099 and who doesn’t 6:56 Action checklist for issuing 1099s 19:00   If you enjoyed this episode, please rate, review and share it!  Links:   Blank W9 for you   My course on issuing 1099s Check out 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.  
2025 Tax Changes

2025 Tax Changes

2025-01-0716:26

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 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 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
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 continuing my series about year-end tax saving tips and giving you some strategies on how you can maximize your tax deductions as an entrepreneur using business expenses.    Join me in this informative episode to learn how you can prioritize your bookkeeping and accelerate your expenses to make sure you get the most out of your tax deductions this upcoming year.    Also mentioned in today’s episode:    The importance of bookkeeping 2:25 Expense acceleration tips 14:14 Year end spending recommendations 21:46   If you enjoyed this episode, please rate, review and share it!  Links: Free mini-course on the new LLC report  
Today, I’m continuing my series about year-end tax tips and discussing why it’s so important to contribute to tax-advantaged retirement accounts. I’m diving into the differences between 401k’s, traditional and Roth IRAs, as well as the SEP IRA option for self-employed individuals.   Join me in this important episode to learn how you can maximize your tax savings and retirement contributions.   Also mentioned in today’s episode:    401k and 403b accounts 4:43 IRA contribution limits and tax benefits 7:13 Deadlines and contribution strategies 9:38   If you enjoyed this episode, please rate, review and share it!    Links: IRA income caps Free Class: https://go.sunlighttax.com/free  
  Today, I’m chatting about healthcare related year-end tax planning strategies that you can use to save money if you are self-employed. I’m diving into the differences between Flexible Spending Accounts and Health Savings Accounts including the benefits and how you can maximize your contributions.   Join me in this episode to learn how you can make sure you’re making the most of your healthcare savings as the end of the year approaches.     Also mentioned in today’s episode:    Flexible Spending Accounts 5:50 Health Savings Accounts 9:10  Maximizing your HSA benefits 16:05   If you enjoyed this episode, please rate, review and share it!  Links: Join my Program: https://www.sunlighttax.com/moneybootcampimpact
Today, In the wake of the election, I’m sharing my personal recipe for maintaining your mental health during tough political times and emphasizing the importance of taking care of your basic needs. I’m also talking about how you can focus on finding joy in the small moments and connecting with loved ones, rather than getting caught up in the negativity of social media and constant news consumption.   Join me in this important episode to learn how you can make sure you're prioritizing your mental health and how you can make a difference in local elections.     Also mentioned in today’s episode:    Focusing on something you can control 6:36 Finding joy in the small things and turning to the arts 11:44 Increasing political engagement and reducing news intake 25:03   If you enjoyed this episode, please rate, review and share it!  Links: https://podcasts.apple.com/us/podcast/the-weekly-show-with-jon-stewart/id1583132133?i=1000676185735 Join my Program: https://www.sunlighttax.com/moneybootcampimpact
In today’s episode, I’m going over the IRS benefits for those affected by federally declared disasters and highlighting the automatic qualification for disaster relief, including filing and payment extensions, and the option to file an amended return.   Join me to learn about the various IRS tax benefits and relief measures available to you if you’re ever impacted by a federally declared disaster.   Also mentioned in today’s episode:    Casualty losses and amended returns 7:55 Disaster declaration numbers and deadline extensions 11:53 Non-taxable disaster relief payments 15:44   If you enjoyed this episode, please rate, review and share it!  Links:   tax return preparation options Eligible individuals or families can get free help preparing their tax return at Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) sites. To find the closest free tax help site, use the VITA Locator Tool or call 800-906-9887. Note that normally, VITA sites cannot help claim disaster losses. To find an AARP Tax-Aide site, use the AARP Site Locator Tool or call 888-227-7669. Any individual or family whose adjusted gross income (AGI) was $79,000 or less in 2023 can use IRS Free File’s Guided Tax Software at no cost. There are products in English and Spanish. Another Free File option is Free File Fillable Forms. These are electronic federal tax forms, equivalent to a paper 1040 and are designed for taxpayers who are comfortable filling out IRS tax forms. Anyone, regardless of income, can use this option. MilTax, a Department of Defense program, offers free return preparation software and electronic filing for federal tax returns and up to three state income tax returns. It’s available for all military members and some veterans, with no income limit. Ways to help WNC Relief efforts: 1. Emergency Relief Fund Grants for Artists 2. The WNC Strong: Rebuilding Together Grant for grant aid to help local WNC businesses survive and rebuild 3. The Sunlight Tax Paypal mutual aid fund. 100% of donations will be given to people I know and love and who need it 4. Love Asheville from Afar: links to WNC businesses that have inventory and would love your support. Please consider Asheville and WNC businesses as you send gifts this fall and for the holidays.        
Today, I’m discussing the tax implications of mutual aid funds and how it relates to the context of Hurricane Helene's impact here in Western North Carolina with the creation of paypals and fundraisers for donations.    Join me in this important episode to learn how to handle the tax side of mutual aid and how to make sure you’re staying on the right side of the IRS.     Also mentioned in today’s episode:    The importance of documenting gifts with written proof 3:45  Offsetting tax liability 7:29 Charitable donations and itemized deductions 12:48    If you enjoyed this episode, please rate, review and share it!  Links:   Emergency Relief Fund Grants for Artists The WNC Strong: Rebuilding Together Grant for grant aid to help local Businesses survive and rebuild: https://www.mountainbizworks.org/helene/donate For Sunlight Tax Mutual Aid donations. I will donate 100% of these funds directly to people in need.      
Today, I’m diving into the topic of Sales Tax vs. Income Tax and emphasizing why it’s so important for you to know the difference.    Join me in this episode, to learn more about the differences between sales tax and income tax and how it can affect you as an entrepreneur.     Also mentioned in today’s episode:    The main differences between sales tax and income tax 11:13 Registration and filing requirements 13:49 Sales tax filing process 16:00   If you enjoyed this episode, please rate, review and share it!  Links:   The WNC Strong: Rebuilding Together Grant for grant aid to help local Businesses survive and rebuild: https://www.mountainbizworks.org/helene/donate   For Sunlight Tax Mutual Aid donations. I will donate 100% of these funds directly to people in need. Emergency Relief Fund Grants for Artists Join my Program: https://www.sunlighttax.com/moneybootcampimpact      
In today's episode, I’m sharing the importance of disaster preparedness, and giving you some of the lessons I learned from living through Hurricane Helene so you can be prepared for your own potential disaster.    Join me in this short and important episode to learn what you need to have and do, to be ready for a natural disaster.    Also mentioned in today’s episode:    Over preparation and document safety 2:27 Emergency supplies you need to have on hand 6:40 Device charging and water preparedness 9:50   If you enjoyed this episode, please rate, review and share it!  Links: Join my Program: https://www.sunlighttax.com/moneybootcampimpact Hannah's Paypal: https://www.paypal.me/hannahcole1779  If you want to help the people here, you can donate to the links at the bottom of Arts AVL page    
Today, I’m sharing an episode of a podcast I recorded for my friend and fellow artist Paddy Johnson’s podcast Art Problems, where I talk about the severe impact Hurricane Helene has had on my town of Asheville, North Carolina. I’m also sharing some important information on how you can help.     Also mentioned in today’s episode:    Details of the studio flooding 5:19 Initial flood observations 11:13 Post flood challenges and community impact 30:00   If you enjoyed this episode, please rate, review and share it!  Links: Hannah's Paypal: https://www.paypal.me/hannahcole1779   Asheville Tea Company,  Melissa Weiss pottery,  The Autrys (food stylists)  New Stock Pantry,  If you want to help the people here, you can donate to the links at the bottom of Arts AVL page    
Emergency Update

Emergency Update

2024-10-0807:39

  Today, I’m giving you a life update from my home in Asheville, North Carolina after suffering from the devastation of Hurricane Helene. In this episode, I’m also providing some different ways that you can help people directly here in Asheville.      Also mentioned in today’s episode:    Hurricane Helene and the effects 1:52 Challenges and community spirit 3:10 My gratitude and how you can help 4:30    If you enjoyed this episode, please rate, review and share it!  Links: Hannah's Paypal: https://www.paypal.me/hannahcole1779   Asheville Tea Company,  Melissa Weiss pottery,  The Autrys (food stylists),  New Stock Pantry,  If you want to help the people here, you can donate to the links at the bottom of Arts AVL page    
Today, I’m talking about the emotional and psychological challenges of navigating money as a self-employed individual and sharing my own personal experiences with money mindset struggles while giving you some tips on how you can push past these mindset blocks.    Join me in this episode to learn the 3 keys on how to shift your mindset away from thinking negatively about money and gain some practical advice on how to improve your money skills.   Also mentioned in today’s episode:    Setting boundaries and overcoming guilt 2:30 Understanding the neutrality of money 11:40 The 3 keys to shifting your money mindset 19:10   If you enjoyed this episode, please rate, review and share it!  Links: My program: Money Bootcamp.  
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