Welcome to my #TaxTalk, where I clarify tax confusion for content creators. I’m Kesha JonTae, and with over 15 years as a CPA and Enrolled Agent, I help content creators - just like you - keep more of their money in their pockets and out of Uncle Sam’s hands. Join me each week as I discuss tax strategies and provide actionable advice and insights to navigate the tax world with clarity. Whether it's understanding regulations or leveraging tax-saving tips, #TaxTalk is your go-to guide for lear ...
…
continue reading
1
Choosing an LLC | 6 Things to Consider
19:29
19:29
Spela senare
Spela senare
Listor
Gilla
Gillad
19:29
How do you know if an LLC is right for your business? I like to call an LLC a chameleon business entity. Because the IRS doesn't actually recognize the LLC structure, LLCs can be taxed as any one of the business types we discussed over the last few episodes. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in t…
…
continue reading
1
Choosing a C Corporation | 6 Things to Consider
24:00
24:00
Spela senare
Spela senare
Listor
Gilla
Gillad
24:00
How do you know if a C corporation is right for your business? A C Corporation is the default corporation type. Many people consider C Corporations to be for big companies, but they can be beneficial for smaller businesses too. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode o…
…
continue reading
1
Choosing an S Corporation | 6 Things to Consider
17:10
17:10
Spela senare
Spela senare
Listor
Gilla
Gillad
17:10
| Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as tax or accounting advice. If you have questions about your specific tax situation, you can e-mail me at hello@themillennialtaxpert.com to b…
…
continue reading
1
Choosing a Partnership | 6 Things to Consider
18:03
18:03
Spela senare
Spela senare
Listor
Gilla
Gillad
18:03
How do you know if a partnership is right for your business? A partnership is a default business entity - when more than one one person create a for-profit business together the business is automatically a partnership unless and until the owners decide to create a different business entity. However, it's still important to understand how choosing o…
…
continue reading
1
Choosing a Sole Proprietorship | 6 Things to Consider
20:25
20:25
Spela senare
Spela senare
Listor
Gilla
Gillad
20:25
How do you know if a sole proprietorship is right for your business? Honestly, most sole proprietorships are probably sole proprietorships by default. If you start a business as the sole owner and you don't form a formal business with the state, your business is a sole proprietorship. So even if you don't consciously choose a sole proprietorship, y…
…
continue reading
1
6 Things to Consider When Choosing a Business Entity
22:55
22:55
Spela senare
Spela senare
Listor
Gilla
Gillad
22:55
Quick question. Have you slid into the inbox of a tax pro and asked them to tell you whether you should create an LLC or an S-Corp for you new business? If so, you might have gotten answers like "it's hard to say", "it depends", or "book a consultation". It's probably the number one "quick question" I get. So today I'm sharing with you six things t…
…
continue reading
1
What Are the Tax Benefits of an LLC?
24:13
24:13
Spela senare
Spela senare
Listor
Gilla
Gillad
24:13
You hear it all of the time. "Form an LLC so you can get the tax benefits." But... what ARE the tax benefits?? The answer may actually surprise you. In this episode I explain how LLCs are taxed on federal tax returns. Visit the show notes to download my FREE LLC Tax Treatment Guide. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The …
…
continue reading
1
About That Payroll Tax Deferral...
18:02
18:02
Spela senare
Spela senare
Listor
Gilla
Gillad
18:02
On August 8, 2020 President Trump signed an executive order and three executive memos related to Coronavirus Relief. One of the memos provided for a deferral of payroll taxes. In this episode, I discuss what I know so far about the deferral and how it can affect you as an employee, employer, or self employed taxpayer. | Quick disclaimer: I am a CPA…
…
continue reading
1
Should You Form Your Business Out of State?
18:29
18:29
Spela senare
Spela senare
Listor
Gilla
Gillad
18:29
My fellow tax pros and I get this question a lot: Should I form my business in Delaware? Nevada? In this episode, I talk about some of the reasons that people form their business out of state. I am not a lawyer, so please speak to your lawyer about all of the legal consequences of forming your business in another state before you make a decision. |…
…
continue reading
1
5 Jobs Your Kids Can Do In Your Business
19:37
19:37
Spela senare
Spela senare
Listor
Gilla
Gillad
19:37
When you hire your kids in your business, what they do can help justify the wages that you pay them. If you hire your child to sweep floors, you probably can’t justify paying them same as you would if you hired them to help source your products or find your next big idea. In this episode I talk about 5 jobs that you could pay your child to do in yo…
…
continue reading
1
4 Non-Tax Benefits of Hiring Your Children
13:07
13:07
Spela senare
Spela senare
Listor
Gilla
Gillad
13:07
Tax savings are great but they aren’t the only benefit you and your kids will get when your hire them in your business. Today we discuss 4 non-tax benefits of hiring your kids in your business. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informat…
…
continue reading
1
3 Mistakes to Avoid When Hiring Your Children
8:48
8:48
Spela senare
Spela senare
Listor
Gilla
Gillad
8:48
Hiring your children can definitely save you money but you want to make sure you do it correctly. In this episode, I discuss three mistakes that you should avoid when hiring your children. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational…
…
continue reading
1
What You Need to Know Before Hiring Your Children
11:32
11:32
Spela senare
Spela senare
Listor
Gilla
Gillad
11:32
Thinking of hiring your children in your business? Here’s know you need to know FIRST. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as tax or accounting advice. If you have questions abou…
…
continue reading
1
10 Things To Do Before Starting Your Business
21:10
21:10
Spela senare
Spela senare
Listor
Gilla
Gillad
21:10
Once you decide you want to start a business, there are a lot of little steps to take before your launch date. In this episode, I discuss ten things you should do before your business goes live. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informa…
…
continue reading
1
8 Reasons Your Tax Pro Should Be Your Best Friend
19:48
19:48
Spela senare
Spela senare
Listor
Gilla
Gillad
19:48
Your tax professional should know about the things going on in your life like your best friend does, and in some cases even more so. In this episode, I discuss 8 major life changes that should be discussed with your tax professional either before they happen or as soon as possible after. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA.…
…
continue reading
US citizens & residents are required go report and pay tax on all of their worldwide income, which could result in double taxation. In this episode, I discuss the Foreign Earned Income Exclusion. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be inform…
…
continue reading
The IRS requires paid preparers to ask questions to make sure the information presented on the return is complete, correct, and consistent. In this episode I explain why we ask such probing questions. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be i…
…
continue reading
It’s that time of year where Amazon releases its financial statements and everybody else gets angry at how much tax the company DIDN’T pay. In this episode I explain a few reasons why Amazon’s tax bill might not be as big as you think it should. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode a…
…
continue reading
1
Married Taxpayers Don’t Get to File Single
16:09
16:09
Spela senare
Spela senare
Listor
Gilla
Gillad
16:09
Many married taxpayers choose to file their tax returns using the single or head of household filing statuses because their spouse has past due federal or state debt. In this episode, I explain the differences between the two married filing statuses, explain when you can use single or head of household when married, and what option you have when yo…
…
continue reading
1
You’re Not Entitled To A Tax Refund, A Rant
12:30
12:30
Spela senare
Spela senare
Listor
Gilla
Gillad
12:30
Tax season is a time to square up with the government for the prior year, not get an extra check. Sometimes you owe, sometimes you’re owed. It’s simple arithmetic. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not int…
…
continue reading
The Earned Income Credit is one of the nation’s largest anti-poverty programs and the IRS side eyes Schedule Cs that put taxpayers within EIC range. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be con…
…
continue reading
1
Do You Need To File Your Business Income?
18:37
18:37
Spela senare
Spela senare
Listor
Gilla
Gillad
18:37
One of the most common questions I get this time of year is “do I have to file my business income?”. In this episode I discuss the filing requirements for the different types of business entities. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be infor…
…
continue reading
The IRS uses 9 factors to determine whether your “income producing activity” is a business or hobby. In this episode, I discuss the remaining four of those factors. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not in…
…
continue reading
The IRS uses 9 factors to determine whether your “income producing activity” is a business or hobby. In this episode, I discuss five of those factors. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be c…
…
continue reading
1
Why Starting A Business May Not Be A Good Tax Saving Strategy
16:39
16:39
Spela senare
Spela senare
Listor
Gilla
Gillad
16:39
You’ve probably seen the posts on social media about starting a business to take advantage of deductions that can help offset your income and save money on your tax return. In this episode, I talk about three reasons why this isn’t actually a good tax strategy. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided i…
…
continue reading
1
Independent Contractor or Employee?
16:02
16:02
Spela senare
Spela senare
Listor
Gilla
Gillad
16:02
In this episode we discuss the importance of making sure you classify your workers correctly. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as tax or accounting advice. If you have questio…
…
continue reading
It’s usually pretty easy to determine what should be included in income. However, sometimes it’s not so clear. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as tax or accounting advice. If…
…
continue reading
In this episode I explain a little more about the strategy of hiring your children to shift your income from good higher tax bracket to their lower tax bracket. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intend…
…
continue reading
1
5 Tips for Hiring Your Children The Right Way
19:15
19:15
Spela senare
Spela senare
Listor
Gilla
Gillad
19:15
You’ve seen the memes & screenshots floating around social media about hiring your children in your business “tax free”. In this episode, I explain what it means to pay your child “tax free” and give five tips for hiring your child the right way. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode …
…
continue reading
Before you go take that advice from a random post you saw on the interwebs and start an LLC, listen to this podcast. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as tax or accounting advi…
…
continue reading
If you’re one of those people that wait until the last minute to file your tax return because you know you’ll owe a lot of money... this episode is for you. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended t…
…
continue reading
In this episode I explain the importance of Forms W-9 & 1099-MISC | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as tax or accounting advice. If you have questions about your specific tax s…
…
continue reading
With the huge influx of new “tax professionals” it’s important to know the difference between people DO taxes and people who KNOW taxes. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is meant to be informational in nature and is not intended to be construed as ta…
…
continue reading
1
Is Your Preparer A Fraud? 5 Red Flags
12:53
12:53
Spela senare
Spela senare
Listor
Gilla
Gillad
12:53
Anybody can be a tax preparer these days. The barrier to entry is low and the tax prep industry is highly unregulated. In this episode, I go over five red flags you should be looking out for when choosing a new preparer. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax t…
…
continue reading
The average IRS refund in 2019 was $2,725. What did you do with yours? Better yet, what are you planning to do with your tax refund this year? In this episode, I give you a few ideas of how we can spend your money. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episode of tax talk is…
…
continue reading
--- Send in a voice message: https://podcasters.spotify.com/pod/show/taxtalk/message
…
continue reading
If you’re using Cashapp, PayPal, Venmo or Facebook payments in your business to accept payments or pay vendors you need to do a few extra steps to make sure that you’re properly reporting all of your income & expenses at tax time. | Quick disclaimer: I am a CPA but I’m probably not YOUR CPA. The information provided in this episode and every episod…
…
continue reading
Learn a little bit about me, what #TaxTalk is and how it came about, and what you can expect to hear on this channel.--- Send in a voice message: https://podcasters.spotify.com/pod/show/taxtalk/message
…
continue reading