Episode 50: How the New Tax Reform Will Impact Your Finances with Josh Bauerle

Episode 50: How the New Tax Reform Will Impact Your Finances with Josh Bauerle

Work Your Wealth
Episode 50: How the New Tax Reform Will Impact Your Finances with Josh Bauerle
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This week I sat down with CPA, Josh Bauerle.

Josh is a CPA an the founder of CPA on Fire, a tax and accounting firm that specializes in working with online based entrepreneurs.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • An overview of some of the big changes with the new tax reform.
  • Updates to the Standard and Itemized deductions along with the Personal Exemption and how they impact you.
  • The changes made to how local and state income and property taxes are deducted and how this could be less than ideal depending on the state you live in.
  • Are you a homeowner or anticipating become one? There’s a change to mortgage interest deductions as well.
  • If your business is a pass-through entity, there are some beneficial changes you’ll want to be aware of for your income.
  • How the 529 plan can now benefit your children’s education beyond college.
  • How to identify some of the myths that have been going around about the tax reform.
  • What entrepreneurs should be doing in order to better prepare for the changes from the new tax reform.
  • The biggest action item an entrepreneur can do to better understand the success of their business.
  • When to establish a payroll for yourself and when to take distributions.
  • If you do switch to payroll, what to consider when deciding the amount to pay yourself.
  • Retirement savings tips for entrepreneurs.
  • A good rule of thumb to follow when taking deductions for your business.

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH JOSH AND LET HIM KNOW YOU HEARD ABOUT HIM HERE!

ENJOY THE SHOW?

 

Episode 28: Tackling Your Business Taxes with Amy Northard

Episode 28: Tackling Your Business Taxes with Amy Northard

Work Your Wealth
Episode 28: Tackling Your Business Taxes with Amy Northard
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This week I sat down with CPA for Creatives, Amy Northard.

Amy Northard, CPA provides tax preparation and bookkeeping services to creative small business owners. After graduation from Indiana University, and then passing the Certified Public Accountant’s exam, Amy began working at a small/mid-sized accounting firm, primarily with small businesses and personal taxes.

Although she learned a great deal during her time at the firm, she had always felt the pull of entrepreneurship since her days of childhood lemonade stands. Her life-long dream finally came true when she opened Amy Northard, CPA LLC, where she passionately works with creative small business owners all over the US to take the stress out of their creative business taxes.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • Why ignoring your taxes results in a lack of clarity around what’s going on with your finances and your business
  • When it could be okay to have a loss in your business and the view you should have if there’s a recurring annual loss in your business
  • Where to start with getting organized with your taxes
  • What paying taxes actually means
  • Strategies to look at in reducing what you own in taxes – this doesn’t mean spending more money in your business.
  • When it makes sense to do your own taxes versus working with a tax professional
  • What to keep in mind when it comes to keeping track of your business write-offs
  • How to stop the catch up cycle with your tax
  • Amy’s rule of thumb for what to set aside for taxes
  • Business bank accounts you need

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH AMY AND LET HER KNOW YOU HEARD ABOUT HER HERE!

ENJOY THE SHOW?