March 7, 2025 • 29 mins
Did you know there are over 33 million small business owners in the US? If you’re one of them, or considering becoming one, we’re breaking down the basics of filing small business taxes with TurboTax spokesperson and CPA, Lisa Greene-Lewis. You can almost hear it clicking for hosts Lea Palmieri and Matt Stillo as Lisa walks us through all we need to know about the different types of small businesses, the deductions you need to know, and much more.
Learn more about TurboTax Business support at TurboTax.com/Business
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Ruby, Welcome to grown up stuff.
Speaker 2 (00:09):
I'm Leah Palmery and I'm Matt Stillo. And if you
thought our journey through the world of taxes was over,
well you're in for a wonderful surprise.
Speaker 1 (00:18):
That's right, because Matt has officially caught the tax bug
and he's made it his entire personality.
Speaker 2 (00:24):
That's right. I feel like it depends on what side
of the coin you're on. I'm on the side of
the coin where I'm excited to learn more about taxes,
and if you're not, then maybe skip to the next
episode or go back to season one or two. I
don't know.
Speaker 1 (00:35):
It's kind of infectious where I was sort of indifferent
and then your enthusiasm really got me on board, which, like, again,
this is a thing that I should know, and I
do feel better the more that I'm learning about it.
But truly, your excitement is kind of what has made
me feel anything close to excitement when it comes to taxes.
Speaker 2 (00:54):
Well, here's the thing. It's like, dude, we work so
hard for our money, right and the government takes it
away from us. And look, I'm not saying that we
shouldn't pay the government, but like, I just want to
keep more my money if it's possible, and like, sometimes
there are big things in the way of that, right,
you've got to learn or whatever. But I really do
feel this is the corniest thing I say. I've probably
said eighteen times in the show. But I do think
that knowledge is powered. If you have the knowledge to
(01:15):
save a little bit more money and put more of
in your pocket, why wouldn't you want to learn about it?
Speaker 3 (01:19):
Right?
Speaker 1 (01:19):
Nerd oh? Who said that?
Speaker 3 (01:23):
Wait?
Speaker 1 (01:23):
I do have a question for you. If you get
yourself a little return this year, what are you going
to spend it on? Are you going to treat yourself
to anything?
Speaker 2 (01:29):
Dude? This is the most grown up lame response. It's
going straight in my retirement account. That's exactly what's going
to happen, because I don't want to die poor.
Speaker 1 (01:37):
Great points, great points, I mean very responsible of you.
I'm definitely gonna buy myself a treat, and by treat,
I mean like a cookie or something, nothing extravagant, but
like a little treat to celebrate. Okay, I got these done.
I'm feeling great. Let's go with.
Speaker 2 (01:50):
All the great cookies in New York City? Which cookie
are going to buy? Okay? Well, I just a dilemma.
You're like, oh my god, there's so many options.
Speaker 1 (01:58):
You're putting me on the spot. I mean, I guess
it's to depend how much my return is.
Speaker 2 (02:02):
You can get some pretty fancy cookies in your tea.
Speaker 1 (02:04):
Yeah, I might be splurgeon.
Speaker 2 (02:06):
We don't know.
Speaker 1 (02:06):
We don't know.
Speaker 2 (02:07):
Okay, Well, if it's Levane, if it's insomnia, that's how
we'll know it's Levane. It's living. Yeah, that's right. I
might be saying that wrong, but I don't care.
Speaker 1 (02:14):
We're going there. It doesn't matter. So while Ruskaroffalo from
Brass Taxes walked us through some very helpful basics of
doing your taxes in the last episode, today we're joined
by another tax expert who will help the over thirty
three million Americans who are small business owners make sense
of tax season.
Speaker 2 (02:30):
That's right. We're focusing more on those with startups, side
hustles small businesses today, and Lisa Green Lewis will hold
our hands every step of the way. She's a CPA
and a tax expert for TurboTax Business with over twenty
years of experience with tax preparation and explaining tax laws
to people just like Usliah.
Speaker 1 (02:47):
You mean the people who are confused but smiling at
the same time, because that's me. But as you know,
I did start a small business, so I am very
much going to be paying attention to what Lisa is
saying today.
Speaker 2 (02:56):
Well, let's get to it with Lisa green Lewis own stuff.
Speaker 3 (03:04):
Hi. I'm Lisa green Lewis, and I'm a CPA and
tax expert with Turbo Tax. I have been doing taxes
for a very long time, over twenty years, and I'm
also a spokesperson for TurboTax, so I break down the
complicated tax laws for reporters and customers. I've always had
(03:26):
an interest in easily breaking down tax laws and helping
people save money.
Speaker 2 (03:32):
Amazing, who doesn't love saving money? That was the energy
we like to bring to grown up stuff. Lisa. We're
like so thrilled that you're here because we've talked a
little bit about taxes this season, kind of for the individual.
But what we're really excited about hearing from you is
to talk about anyone who's self employed, they're a gig
economy worker, they got a small business. I can really
(03:53):
complicate your taxes, right. I had a small business when
I was much younger, and Leaka speaks as Morcash. She
is a small business owner. But it just really complicates
and I got so frustrated doing taxes that I just
wanted to call it quits. So I'm curious to hear
from you who could benefit from using TurboTax business to
do their taxes.
Speaker 3 (04:12):
Yeah, so there are a multitude of business entities that
could benefit from TurboTax business. So you can be self
employed or a solopreneur, so like you mentioned, people that
have a side gig or they work for themselves. But
also TurboTax business is for s corps or LLC's. You
(04:36):
can be a multi member LLC or you can also
be a solo member LLC as well.
Speaker 1 (04:43):
Shout out to solo member LLC's that's me in the house,
very excited about Yes, yes, yes, there's.
Speaker 3 (04:49):
A lot of those. Yes, you're not alone.
Speaker 1 (04:52):
Thank you. I'm happy to be part of this group
as well. Although obviously when it does come to TAXI,
I'm getting a little nervous because there is a to
think about. So what is sort of the first step
of this, What should I be like coming prepared with,
what should I expect from the process. How long is
this going to take what are sort of the first
things to collect and also wrap my mind around as
(05:13):
we're coming into this process.
Speaker 3 (05:15):
Depending on what type of entity you are, you may
have some differences, but in general, being a small business
owner is the same. If you're self employed, it's going
to be a little easier for you because you only
have to do one tax return. So your self employed
business that's going to be reported on a Schedule C.
(05:37):
Now you don't need to know all these forms with
turbo tax, we don't make you know that. But just
going over this, you'll file your Schedule C with your
personal taxes, your ten forty. So the first thing you
want to do gather all those forms that report your
income like Form ten ninety nine NEC, Form ten ninety
nine K if you've had payments processed by a party provider.
(06:01):
And then most importantly, you want to have those receipts
for expenses that are worth deductions. If you travel for
your business, anything like equipment that you ordered for your
business or even your home office, those are all deductible
and you should definitely feel empowered to deduct those items,
which you want to have those receipts together. Now, if
(06:23):
you are an s corp or a multi member LLC
or in a partnership. Your taxes are going to be
a little more involved because you're going to have to
do two taxes, so one for your corporation or es
corp or multi member LLC, and then that information is
going to flow through to your personal taxes. But in general,
(06:47):
it's important to have your financial statements. There's something called
clean books. You want to have your books clean because
that is how you get the accurate information that goes
into your tax return. And then of course all the
expenses that you're eligible for for your business, which will
show up on your financial statements. But you want to
(07:08):
have that together, or any assets that you have, because
those also appear on your financial statements and can help
your taxes as well because you're able to depreciate those
assets and get a deduction for those.
Speaker 2 (07:24):
So you've just rattled off so many terms. I would
love you to break down some many terms. So I'm
going to rattle them off one at a time, and
I'd love for you to kind of like talk a
little bit about what that is specifically. Okay, so the
first thing on that list is sole proprietorship. Could you
break that down for us real quick.
Speaker 3 (07:41):
Yes, So a sole proprietor, you are in the business
of one. It is your own business. You typically don't
have employees. I mean some sole proprietors do pay people
to do work for them, but in general, your business
of one, you are going to file your business taxes
with your personal taxes. So that is the simplest form
(08:04):
of business structure that you're going to have.
Speaker 2 (08:08):
And the thing I always got confused because that's the
kind of business that I had and I don't have
it anymore. But you have an EI in and it's
like your tax number. Is it the same as your
Social Security number? Or how does that work out when
you're doing the sole proprietorship thing.
Speaker 3 (08:22):
Yes, that is different. Now some sole proprietors just use
their social Security number, but you can have an employer
identification number when you are a sole proprietor. That's how
you set up your business name. It's a separate name
from yourself, and you would have a designated EI in.
Speaker 2 (08:42):
Okay, cool, good to know, all right, So we're going
to go down to the next one here, which is
general partnership.
Speaker 3 (08:48):
General partnerships, it's not just you. You would have partners designated,
but that type of partnership offers little protection unlike a
limited liability corporation where you're getting protection against anything that
could come against your business income.
Speaker 2 (09:07):
Okay, what about limited partnership.
Speaker 3 (09:10):
So a limited partnership you would have unlimited liability, but
then your partners could have limited liability and a limited partnership,
so one partner has to have unlimited liability.
Speaker 2 (09:26):
Okay. Cool. And then scorp, so.
Speaker 3 (09:29):
You do have limited liability with an escorp, and you
also have partners in your escorp, and your net income
everything is divided among the partners, and so at tax
time with the escorp you get a K one and
that's where that income flows through to your personal taxes.
Speaker 2 (09:53):
Okay. The next one is c corp. How is that
different than an escorp?
Speaker 3 (09:58):
A C corp Typically people incorporate when they make more
income and they have a larger business structure. And then
that at tax time you would have to do a
tax return for the corporation. And usually with a C
corp you are paid as an employee if you're the owner,
(10:20):
so you would get a W two from your C
corp and then that would be taxed on your personal taxes.
Speaker 2 (10:28):
Got it? Okay, and then we're going to save the
best for last because our very only is one of these.
The LLC break that down for us, if you would. Yeah.
Speaker 3 (10:38):
So the LLC, you can be a LLC and be
a sole proprietor and so it could just be you,
but you have limited liability against your business, so that
is protecting your business. You can also have partners in
an LLC and be a multi member LLC and with
(10:59):
that there there's decisions made on how your net income
and things within your business are divided up.
Speaker 1 (11:09):
Okay, great, this is very new for me, So I
guess my main question is how is doing your taxes
as a small business owner different than as an individual.
Speaker 3 (11:21):
With someone that's self employed or a self proprietor, you
are going to have self employment taxes. The structure is
going to be more simple because you're only filing one
tax return, but you will have self employment taxes. So
your self employment taxes are fifteen point three percent of
(11:43):
your net income. And with an LLC, with that structure,
you're going to get a K one and it's going
to be based on your profits and so you're not
going to have that self employment tax but your profits
will be on that K one and that will flow
through to your personal tax return.
Speaker 1 (12:03):
Okay, I've never had a K one before, so I'm excited.
The sounds exciting.
Speaker 3 (12:07):
So, yeah, you're saving on the self employment taxes. And
also one thing I do want to point out, so
a lot of people just starting businesses they want to
jump into incorporating. They hear that's the thing to do,
but they're not making any money and they think that
you'll get more deductions or credits by doing that. But
(12:29):
self employed do still get a lot of deductions and
credits similar ones to corporations. So that's just one thing
to point out. You know, if you're starting out and
you're not making any money yet, you might want to
consider that because you're still able to take the same
deductions and credits and it's just a more simple structure.
(12:51):
You're not going to have to have multiple tax returns
and an earlier deadline.
Speaker 2 (12:57):
One of the things that you mentioned when we were
kind of talking about all those different terms is you
mentioned the word liability a lot and kind of like
shielding yourself. Why is that so important? It seems like
the idea is to protect yourself. Could you talk a
little bit about that.
Speaker 3 (13:11):
Yeah. So if you're a sole proprietor and self employed
and something happens with your business, people could come after
your personal assets and things.
Speaker 1 (13:23):
That you've built, no, thank you.
Speaker 3 (13:25):
Yes, but with the LC they wouldn't be able to
come after your personal assets. So it's very important to
protect yourself.
Speaker 2 (13:36):
Leah, this is great news. You're fully experience, you're fully
protected us.
Speaker 1 (13:39):
Yes, I feel really good. I feel like, don't come
near my right place.
Speaker 2 (13:42):
Yes. Yeah. Yeah. So a lot of what we talk
about so far as sounds very complicated. So why is
it important to use an expert for small business taxes?
Speaker 3 (13:53):
Well, first I want to point out a Forbes Steady
mentioned that a wapping ninety three percent of small businesses
overpay their taxes and also TurboTax. We conducted a survey
with Talker Research and seventeen percent of gen z ers
believed that you could write off any expense as a
(14:14):
business expense.
Speaker 2 (14:15):
So it's just.
Speaker 3 (14:17):
Really important to do your taxes right. And also, you
know you're running a business. You want to put your
time and effort into your business. You don't have time
to be thinking about tax laws.
Speaker 2 (14:32):
All the tax law changes nobody has time for this yet,
Well we do.
Speaker 3 (14:37):
So with Turbo Tax, we're providing done for you experiences
and that's through our AI and our expert platform and
our experts. They have an average of twelve years experience.
You're matched to an expert that is experienced in specific businesses.
(14:57):
You want them to be knowledgeable about big businesses, whether
you're a content creator or a real estate agent. You
want them to know those specific deductions that you're eligible for.
Speaker 2 (15:10):
Yes, I do.
Speaker 1 (15:11):
That is very true because there are certain things where
I'm like, how about this new shirt that I got,
but I'm on camera? Can I wear it on camera?
And I've had some people the right one say no,
that is not a deduction for you. For me, it
seems like it would be, but it's not.
Speaker 3 (15:26):
Yes, I wish no.
Speaker 2 (15:27):
Yeah, I wish that.
Speaker 1 (15:29):
Thank you, yeah, Because then I'd also be like, well,
I got myself this new moisturizer again, so I look
beautiful as I create content. But again, sadly, no Sephora
receipts are making it into my deductions for this year.
But you know, maybe some other way.
Speaker 3 (15:44):
We'll find other ways, but definitely not cosmetics or clothes, unfortunately,
one other thing I wanted to bring up to into
it owns our other brands, and so we make it
easy to transfer your information from QuickBooks. It's seamless integration
between QuickBooks and your turbo Tax taxes. So your financials
(16:10):
from QuickBooks which tracks your income, expenses, even your business mileage,
it can transfer directly to your TurboTax return. That helps
you save time and also avoids manual entry or any errors.
Speaker 2 (16:27):
Yeah, so if you're already using QuickBooks to run your
business like, it's one simple step away, yeah, to start
using TurboTax for your business taxes as well. Yes, we
love that.
Speaker 1 (16:36):
If we do love that no manual entry here. I
know we talked a little bit about certain things that
you can can't deduct, and we've also talked about that
TurboTax business has these different experts that can really understand
exactly what your small business is doing and help you
with the deductions. Can we go for some like general
ones of things that you can and can't deduct? And
also how's this different from me as and individual deductions?
Speaker 3 (17:00):
So definitely your startup costs, if you just started a business,
you could deduct that any advertising marketing, if you have
a website, or you have websites support. I would say
anything directly related to your business, feel empowered to deduct it.
A lot of people are afraid, but if you have
(17:21):
those receipts, you definitely want to deduct it. Another big
one is your car expenses. You could deduct either mileage
or actual expenses. And then there's also it's called Section
one seventy nine deductions, and that's where you could deduct
a lump sum of your purchase instead of depreciating it
(17:46):
or capitalizing it over the years. So for instance, if
you're a ride share driver and you purchased a suv
that's six thousand pounds but under fourteen thousands in twenty
twenty four, and you started using that for your business
over fifty percent, you could deduct up to thirty five
(18:08):
hundred dollars oh for twenty twenty four, and a lot
of people are surprised. And it's not just dedicated to
a rise to your driver. You could be a real
estate agent or anyone like that. That's something to keep
in mind. Or equipment you buy, they have that same
section one point seventy nine where up to a certain
amount you could deduct the whole expense outright instead of
(18:32):
depreciating it over the years.
Speaker 2 (18:35):
One thing that I think that people are confused about
when it comes to deductions like this is people who
they operate their business out of their own home. I'm
thinking like rent, I'm thinking utilities. Is any of that
fair game?
Speaker 3 (18:46):
Yes, so a lot of people are afraid to deduct that.
But if you have a dedicated space in your home
where you're running your business, so it can't be like
your kitchen table where you eat and your kids do homework.
But if you have a dedicated space, you're able to
deduct a portion of your mortgage interests if you have
(19:07):
a mortgage, or rent, utilities, property taxes, all of that,
and it's based on the square footage of your office
that you use and also the irs. They know that
people were hesitant to take this, so they developed a
way that you can do just like a flat deduction.
(19:29):
But if you have a mortgage, property taxes, and things
like that, you should definitely use the other actual expense
deduction because that might be more I'm really glad.
Speaker 2 (19:42):
That you said that you can deduct rent and utilities,
because I definitely did that when I had a business.
And I definitely wasn't entirely sure if I could do
that or not. So thank you for confirming that it's
been a lingering ten year fear of mind that the
government's going to come out for me.
Speaker 3 (19:55):
Yes, no, you can't.
Speaker 1 (19:56):
Okay, great, we'll be right back after a quick.
Speaker 2 (20:01):
Break, and we're back with more grown up stuff. How
do I don't so? What I am curious here? Is
there anything small businesses or people who are self employed
that they should be aware of that maybe aren't so
(20:23):
obvious when it comes to filing their taxes, Like it
was a great example about the SUV for twenty twenty
four that you mentioned about. So are there any like
sneaky boxes to check or receipts to count or what
else can we be doing this? Maybe not so obvious.
Speaker 3 (20:36):
One thing we didn't talk about is when you're self
employed and a small business, you need to make quarterly
estimated tax payments. And so if you expect to owe
one thousand dollars or more, you should make those quarterly
estimated tax payments. Now, if you're self employed, it's called
annualizing your income. A lot of people don't know about this,
(21:00):
but you can avoid penalties for not paying estimated taxes
in a certain quarter virus. They know that you don't
earn your income evenly over four quarters when you're self employed,
so you can recognize your income in the quarter that
you earn it when you do your taxes, and then
(21:20):
you won't get a penalty in those quarters where you
don't show income. So that's like a little trick I
like to tell people, especially since penalties have gone up
from the irs.
Speaker 1 (21:32):
Can you tell us a little bit too about the
benefits for small business owners to use Turbotux business.
Speaker 3 (21:39):
Yes, So the benefits are just you not having to
know the tax laws.
Speaker 1 (21:44):
That's all I need to do.
Speaker 2 (21:45):
Yah.
Speaker 3 (21:45):
Yeah, we make it really easy. You can automatically upload
your documents to the tax experts and then being able
to talk to the experts however you want to talk
to them. You could do it via chat or live video.
You also have the ability to meet with them in
(22:08):
person in some areas, and so that really helps people out.
And then just being self employed or having a small business,
you may come up with questions during the year, and
so our Turbo Tax business experts, once you use them,
they're available year round for you to ask questions, and
(22:29):
that's free for you to call them back. You know,
you might be thinking about a purchase for something for
your business and you might want to ask them, Oh,
I'm thinking of purchasing this equipment in the summer, will
this be deductible on my taxes? So they can give
you that year round support and even help you with
(22:50):
getting ready for your estimated taxes.
Speaker 2 (22:53):
And so I'm curious, like, let's say I'm trying to
do my taxes on my own right, and I go,
I hit a wall, and I give you guys a call.
How can these experts help me while I'm in the
process of doing my taxes.
Speaker 3 (23:05):
If you're in the process of doing your taxes and
you come up with a question, we have access to
the experts online every step of the way, so you
can connect with them and ask them a question and
they can assist you, or you can fully hand your
taxes off to them as well.
Speaker 2 (23:25):
That's good to know. I would always love to try
to do the taxes right. There's something about the tax forms.
I'm like, if I could just get through this, I'll
feel very smart. But good to know that there's an
expert waiting in the wings to correct all of my mistakes.
Speaker 3 (23:37):
Yeah, if you hand your taxes off to them, they
review and sign your return and file it for you,
and it's one hundred percent guarantee. They will not sign
it unless they're one hundred percent sure that it's accurate.
So you're getting that extra comfort that you need. Also,
one of the pain points that we've seen with people,
(23:58):
they drop their taxes off to someone and they don't
know where it is in the process, and so our
tax experts keep you in the loop on where it
is in the process and when it's going to be done.
Speaker 1 (24:12):
This is like when I order food for delivery and
I see the little bike on its way to me. Yes, okay, perfect, Yes.
Speaker 3 (24:18):
And we have implemented that just like your door dash,
we have a tracker that's on your phone and so
you can see where your return is in the process.
Speaker 2 (24:28):
So is it like a dollar bill that's coming closer
and closer to me as my return approaches? Is that? What?
It is? Amazing? I love that I always want to
know where my money is come to me money.
Speaker 1 (24:37):
Although you don't want to see it if the dollar
bill is going farther and further away.
Speaker 2 (24:41):
Oh no, okay, So we've talked a lot about what
TurboTax can do. But I'm curious, you know, Lisa, you're
a CPA, you're a TurboTax expert. What are the features
of the software that you love the most or that
you like working with?
Speaker 3 (24:56):
I would say the ability to easily upload documents and
just the AI that we've implemented to assist people. That
is how we've provided done for you experiences. We have
thousands of business customers that are using our product, and
we had one customer she says she was able to
(25:19):
finish her business taxes in thirteen minutes.
Speaker 2 (25:23):
WHOA, I don't believe that, Like it's a month's long process.
That's amazing.
Speaker 1 (25:28):
Okay, So we talked about having an LLC. But if
someone has a small business and you're not just a
sole proprietor here, how should they go about filing both
business and personal?
Speaker 3 (25:39):
First, you're going to have two deadlines to think about.
So when you're a small business and let's say you're
a multi member LLC, you're going to have the March
seventeenth tax deadline for your business taxes, yes, and then
you're also going to have your personal taxes, and that
deadline's April fifth teeth, so you will have two different
(26:02):
tax returns, unlike someone that's a sole proprietor LLC or
self employed. Right now, we are offering customers that have
the business tax return and personal tax return to do.
We're giving twenty percent off of your personal taxes.
Speaker 2 (26:21):
Nice, and that's twenty percent off of the sales price
of the service. Yes, okay, great, good to know, and
then I have one last question for you and then
we'll all say goodbye. I'm curious to just also hear
a little bit about why you wanted to become a
CPA and how that led you to TurboTax and maybe
what you'd like about working at TurboTax.
Speaker 3 (26:39):
Okay, yeah, so kind of weird. But I learned how
to do taxes after high school, like when it was
paper and I was always really good in math, and
friends and family knew that I could like explain tax
laws really easy, and they started asking me questions, and
(26:59):
I decided to go to college for accounting concentration tax
And back then you could get what was called a
c tech license, So that was a license they had
where you could charge people to do taxes. So I
started doing taxes for people that way, and then after
college I decided to go for my CPA license. And
(27:23):
now also my worlds kind of came together because prior
to high school, I wanted to be a newscaster and
I thought I was too shy to talk to people.
But the VP that hired me at Turbo Tax after
I started working a little bit, she was like, would
you like to be a spokesperson for Turbo Tax? And
I was like, I mean, sure if you train me.
(27:45):
So fast forward, my two worlds collided and I'm able
to do my work as a CVA and also talk
to reporters and do some really fun stuff.
Speaker 1 (27:58):
I was in the stars for you, and also I'm
so jealous that you have the skills of really being
able to crunch numbers and understand the laws and all
of that too. So great job. I know we won't
keep you much longer because it is tax season, so
I'm guessing Lisa has a couple of things to do
to do this today. Awesome, but thank you so much
for joining us and helping to navigate this world that
(28:21):
is not so scary once you break it down.
Speaker 3 (28:23):
Thank you for having me, and I did listen to
some of your podcasts and I really love the topics,
very interesting and you guys make it fun.
Speaker 2 (28:34):
Oh thanks, Lisa, appreciate it.
Speaker 1 (28:35):
You're doing an amazing job being a grown up. So
thank you, thank you, our thanks again to Lisa for
breaking it down for us. Okay, Matt, so tell me
what the next topic you're feeling kind of curious about is.
Speaker 2 (28:53):
Every time I talk to someone about mornings or morning routines,
I always tell them I am an aspiring morning person,
because I truly am. I'm attempting to make this year
the year that I actually become a morning person. And
so next episode we're going to speak with Laura Vandercamp,
who quite literally wrote a book on how to have
a positive and productive morning routine.
Speaker 1 (29:12):
Matt on behalf of my fellow morning people. We will
happily and smugly welcome you into the club.
Speaker 2 (29:18):
I feel embraced.
Speaker 1 (29:19):
Yes, the birds are chirping, the sun is shining. We
are ready to welcome you to the morning. Thank you
until next time, Good luck being a grown up.
Speaker 2 (29:30):
This is a production of Ruby Studio from iHeartMedia. Our
executive producers are Lea Palmer.
Speaker 1 (29:35):
And Matt Stillo. This episode was edited and engineered by
Sierra Spreen.
Speaker 2 (29:40):
We wanted to thank our teammates at Ruby Studio, including
Sarah You, Ethan Fixel, Racis Swan Krasnoff, Ambrus Smith, Debraharett,
and Andy Kelly.
Ruby, Welcome to grown up stuff.
Speaker 2 (00:09):
I'm Leah Palmery and I'm Matt Stillo. And if you
thought our journey through the world of taxes was over,
well you're in for a wonderful surprise.
Speaker 1 (00:18):
That's right, because Matt has officially caught the tax bug
and he's made it his entire personality.
Speaker 2 (00:24):
That's right. I feel like it depends on what side
of the coin you're on. I'm on the side of
the coin where I'm excited to learn more about taxes,
and if you're not, then maybe skip to the next
episode or go back to season one or two. I
don't know.
Speaker 1 (00:35):
It's kind of infectious where I was sort of indifferent
and then your enthusiasm really got me on board, which, like, again,
this is a thing that I should know, and I
do feel better the more that I'm learning about it.
But truly, your excitement is kind of what has made
me feel anything close to excitement when it comes to taxes.
Speaker 2 (00:54):
Well, here's the thing. It's like, dude, we work so
hard for our money, right and the government takes it
away from us. And look, I'm not saying that we
shouldn't pay the government, but like, I just want to
keep more my money if it's possible, and like, sometimes
there are big things in the way of that, right,
you've got to learn or whatever. But I really do
feel this is the corniest thing I say. I've probably
said eighteen times in the show. But I do think
that knowledge is powered. If you have the knowledge to
(01:15):
save a little bit more money and put more of
in your pocket, why wouldn't you want to learn about it?
Speaker 3 (01:19):
Right?
Speaker 1 (01:19):
Nerd oh? Who said that?
Speaker 3 (01:23):
Wait?
Speaker 1 (01:23):
I do have a question for you. If you get
yourself a little return this year, what are you going
to spend it on? Are you going to treat yourself
to anything?
Speaker 2 (01:29):
Dude? This is the most grown up lame response. It's
going straight in my retirement account. That's exactly what's going
to happen, because I don't want to die poor.
Speaker 1 (01:37):
Great points, great points, I mean very responsible of you.
I'm definitely gonna buy myself a treat, and by treat,
I mean like a cookie or something, nothing extravagant, but
like a little treat to celebrate. Okay, I got these done.
I'm feeling great. Let's go with.
Speaker 2 (01:50):
All the great cookies in New York City? Which cookie
are going to buy? Okay? Well, I just a dilemma.
You're like, oh my god, there's so many options.
Speaker 1 (01:58):
You're putting me on the spot. I mean, I guess
it's to depend how much my return is.
Speaker 2 (02:02):
You can get some pretty fancy cookies in your tea.
Speaker 1 (02:04):
Yeah, I might be splurgeon.
Speaker 2 (02:06):
We don't know.
Speaker 1 (02:06):
We don't know.
Speaker 2 (02:07):
Okay, Well, if it's Levane, if it's insomnia, that's how
we'll know it's Levane. It's living. Yeah, that's right. I
might be saying that wrong, but I don't care.
Speaker 1 (02:14):
We're going there. It doesn't matter. So while Ruskaroffalo from
Brass Taxes walked us through some very helpful basics of
doing your taxes in the last episode, today we're joined
by another tax expert who will help the over thirty
three million Americans who are small business owners make sense
of tax season.
Speaker 2 (02:30):
That's right. We're focusing more on those with startups, side
hustles small businesses today, and Lisa Green Lewis will hold
our hands every step of the way. She's a CPA
and a tax expert for TurboTax Business with over twenty
years of experience with tax preparation and explaining tax laws
to people just like Usliah.
Speaker 1 (02:47):
You mean the people who are confused but smiling at
the same time, because that's me. But as you know,
I did start a small business, so I am very
much going to be paying attention to what Lisa is
saying today.
Speaker 2 (02:56):
Well, let's get to it with Lisa green Lewis own stuff.
Speaker 3 (03:04):
Hi. I'm Lisa green Lewis, and I'm a CPA and
tax expert with Turbo Tax. I have been doing taxes
for a very long time, over twenty years, and I'm
also a spokesperson for TurboTax, so I break down the
complicated tax laws for reporters and customers. I've always had
(03:26):
an interest in easily breaking down tax laws and helping
people save money.
Speaker 2 (03:32):
Amazing, who doesn't love saving money? That was the energy
we like to bring to grown up stuff. Lisa. We're
like so thrilled that you're here because we've talked a
little bit about taxes this season, kind of for the individual.
But what we're really excited about hearing from you is
to talk about anyone who's self employed, they're a gig
economy worker, they got a small business. I can really
(03:53):
complicate your taxes, right. I had a small business when
I was much younger, and Leaka speaks as Morcash. She
is a small business owner. But it just really complicates
and I got so frustrated doing taxes that I just
wanted to call it quits. So I'm curious to hear
from you who could benefit from using TurboTax business to
do their taxes.
Speaker 3 (04:12):
Yeah, so there are a multitude of business entities that
could benefit from TurboTax business. So you can be self
employed or a solopreneur, so like you mentioned, people that
have a side gig or they work for themselves. But
also TurboTax business is for s corps or LLC's. You
(04:36):
can be a multi member LLC or you can also
be a solo member LLC as well.
Speaker 1 (04:43):
Shout out to solo member LLC's that's me in the house,
very excited about Yes, yes, yes, there's.
Speaker 3 (04:49):
A lot of those. Yes, you're not alone.
Speaker 1 (04:52):
Thank you. I'm happy to be part of this group
as well. Although obviously when it does come to TAXI,
I'm getting a little nervous because there is a to
think about. So what is sort of the first step
of this, What should I be like coming prepared with,
what should I expect from the process. How long is
this going to take what are sort of the first
things to collect and also wrap my mind around as
(05:13):
we're coming into this process.
Speaker 3 (05:15):
Depending on what type of entity you are, you may
have some differences, but in general, being a small business
owner is the same. If you're self employed, it's going
to be a little easier for you because you only
have to do one tax return. So your self employed
business that's going to be reported on a Schedule C.
(05:37):
Now you don't need to know all these forms with
turbo tax, we don't make you know that. But just
going over this, you'll file your Schedule C with your
personal taxes, your ten forty. So the first thing you
want to do gather all those forms that report your
income like Form ten ninety nine NEC, Form ten ninety
nine K if you've had payments processed by a party provider.
(06:01):
And then most importantly, you want to have those receipts
for expenses that are worth deductions. If you travel for
your business, anything like equipment that you ordered for your
business or even your home office, those are all deductible
and you should definitely feel empowered to deduct those items,
which you want to have those receipts together. Now, if
(06:23):
you are an s corp or a multi member LLC
or in a partnership. Your taxes are going to be
a little more involved because you're going to have to
do two taxes, so one for your corporation or es
corp or multi member LLC, and then that information is
going to flow through to your personal taxes. But in general,
(06:47):
it's important to have your financial statements. There's something called
clean books. You want to have your books clean because
that is how you get the accurate information that goes
into your tax return. And then of course all the
expenses that you're eligible for for your business, which will
show up on your financial statements. But you want to
(07:08):
have that together, or any assets that you have, because
those also appear on your financial statements and can help
your taxes as well because you're able to depreciate those
assets and get a deduction for those.
Speaker 2 (07:24):
So you've just rattled off so many terms. I would
love you to break down some many terms. So I'm
going to rattle them off one at a time, and
I'd love for you to kind of like talk a
little bit about what that is specifically. Okay, so the
first thing on that list is sole proprietorship. Could you
break that down for us real quick.
Speaker 3 (07:41):
Yes, So a sole proprietor, you are in the business
of one. It is your own business. You typically don't
have employees. I mean some sole proprietors do pay people
to do work for them, but in general, your business
of one, you are going to file your business taxes
with your personal taxes. So that is the simplest form
(08:04):
of business structure that you're going to have.
Speaker 2 (08:08):
And the thing I always got confused because that's the
kind of business that I had and I don't have
it anymore. But you have an EI in and it's
like your tax number. Is it the same as your
Social Security number? Or how does that work out when
you're doing the sole proprietorship thing.
Speaker 3 (08:22):
Yes, that is different. Now some sole proprietors just use
their social Security number, but you can have an employer
identification number when you are a sole proprietor. That's how
you set up your business name. It's a separate name
from yourself, and you would have a designated EI in.
Speaker 2 (08:42):
Okay, cool, good to know, all right, So we're going
to go down to the next one here, which is
general partnership.
Speaker 3 (08:48):
General partnerships, it's not just you. You would have partners designated,
but that type of partnership offers little protection unlike a
limited liability corporation where you're getting protection against anything that
could come against your business income.
Speaker 2 (09:07):
Okay, what about limited partnership.
Speaker 3 (09:10):
So a limited partnership you would have unlimited liability, but
then your partners could have limited liability and a limited partnership,
so one partner has to have unlimited liability.
Speaker 2 (09:26):
Okay. Cool. And then scorp, so.
Speaker 3 (09:29):
You do have limited liability with an escorp, and you
also have partners in your escorp, and your net income
everything is divided among the partners, and so at tax
time with the escorp you get a K one and
that's where that income flows through to your personal taxes.
Speaker 2 (09:53):
Okay. The next one is c corp. How is that
different than an escorp?
Speaker 3 (09:58):
A C corp Typically people incorporate when they make more
income and they have a larger business structure. And then
that at tax time you would have to do a
tax return for the corporation. And usually with a C
corp you are paid as an employee if you're the owner,
(10:20):
so you would get a W two from your C
corp and then that would be taxed on your personal taxes.
Speaker 2 (10:28):
Got it? Okay, and then we're going to save the
best for last because our very only is one of these.
The LLC break that down for us, if you would. Yeah.
Speaker 3 (10:38):
So the LLC, you can be a LLC and be
a sole proprietor and so it could just be you,
but you have limited liability against your business, so that
is protecting your business. You can also have partners in
an LLC and be a multi member LLC and with
(10:59):
that there there's decisions made on how your net income
and things within your business are divided up.
Speaker 1 (11:09):
Okay, great, this is very new for me, So I
guess my main question is how is doing your taxes
as a small business owner different than as an individual.
Speaker 3 (11:21):
With someone that's self employed or a self proprietor, you
are going to have self employment taxes. The structure is
going to be more simple because you're only filing one
tax return, but you will have self employment taxes. So
your self employment taxes are fifteen point three percent of
(11:43):
your net income. And with an LLC, with that structure,
you're going to get a K one and it's going
to be based on your profits and so you're not
going to have that self employment tax but your profits
will be on that K one and that will flow
through to your personal tax return.
Speaker 1 (12:03):
Okay, I've never had a K one before, so I'm excited.
The sounds exciting.
Speaker 3 (12:07):
So, yeah, you're saving on the self employment taxes. And
also one thing I do want to point out, so
a lot of people just starting businesses they want to
jump into incorporating. They hear that's the thing to do,
but they're not making any money and they think that
you'll get more deductions or credits by doing that. But
(12:29):
self employed do still get a lot of deductions and
credits similar ones to corporations. So that's just one thing
to point out. You know, if you're starting out and
you're not making any money yet, you might want to
consider that because you're still able to take the same
deductions and credits and it's just a more simple structure.
(12:51):
You're not going to have to have multiple tax returns
and an earlier deadline.
Speaker 2 (12:57):
One of the things that you mentioned when we were
kind of talking about all those different terms is you
mentioned the word liability a lot and kind of like
shielding yourself. Why is that so important? It seems like
the idea is to protect yourself. Could you talk a
little bit about that.
Speaker 3 (13:11):
Yeah. So if you're a sole proprietor and self employed
and something happens with your business, people could come after
your personal assets and things.
Speaker 1 (13:23):
That you've built, no, thank you.
Speaker 3 (13:25):
Yes, but with the LC they wouldn't be able to
come after your personal assets. So it's very important to
protect yourself.
Speaker 2 (13:36):
Leah, this is great news. You're fully experience, you're fully
protected us.
Speaker 1 (13:39):
Yes, I feel really good. I feel like, don't come
near my right place.
Speaker 2 (13:42):
Yes. Yeah. Yeah. So a lot of what we talk
about so far as sounds very complicated. So why is
it important to use an expert for small business taxes?
Speaker 3 (13:53):
Well, first I want to point out a Forbes Steady
mentioned that a wapping ninety three percent of small businesses
overpay their taxes and also TurboTax. We conducted a survey
with Talker Research and seventeen percent of gen z ers
believed that you could write off any expense as a
(14:14):
business expense.
Speaker 2 (14:15):
So it's just.
Speaker 3 (14:17):
Really important to do your taxes right. And also, you
know you're running a business. You want to put your
time and effort into your business. You don't have time
to be thinking about tax laws.
Speaker 2 (14:32):
All the tax law changes nobody has time for this yet,
Well we do.
Speaker 3 (14:37):
So with Turbo Tax, we're providing done for you experiences
and that's through our AI and our expert platform and
our experts. They have an average of twelve years experience.
You're matched to an expert that is experienced in specific businesses.
(14:57):
You want them to be knowledgeable about big businesses, whether
you're a content creator or a real estate agent. You
want them to know those specific deductions that you're eligible for.
Speaker 2 (15:10):
Yes, I do.
Speaker 1 (15:11):
That is very true because there are certain things where
I'm like, how about this new shirt that I got,
but I'm on camera? Can I wear it on camera?
And I've had some people the right one say no,
that is not a deduction for you. For me, it
seems like it would be, but it's not.
Speaker 3 (15:26):
Yes, I wish no.
Speaker 2 (15:27):
Yeah, I wish that.
Speaker 1 (15:29):
Thank you, yeah, Because then I'd also be like, well,
I got myself this new moisturizer again, so I look
beautiful as I create content. But again, sadly, no Sephora
receipts are making it into my deductions for this year.
But you know, maybe some other way.
Speaker 3 (15:44):
We'll find other ways, but definitely not cosmetics or clothes, unfortunately,
one other thing I wanted to bring up to into
it owns our other brands, and so we make it
easy to transfer your information from QuickBooks. It's seamless integration
between QuickBooks and your turbo Tax taxes. So your financials
(16:10):
from QuickBooks which tracks your income, expenses, even your business mileage,
it can transfer directly to your TurboTax return. That helps
you save time and also avoids manual entry or any errors.
Speaker 2 (16:27):
Yeah, so if you're already using QuickBooks to run your
business like, it's one simple step away, yeah, to start
using TurboTax for your business taxes as well. Yes, we
love that.
Speaker 1 (16:36):
If we do love that no manual entry here. I
know we talked a little bit about certain things that
you can can't deduct, and we've also talked about that
TurboTax business has these different experts that can really understand
exactly what your small business is doing and help you
with the deductions. Can we go for some like general
ones of things that you can and can't deduct? And
also how's this different from me as and individual deductions?
Speaker 3 (17:00):
So definitely your startup costs, if you just started a business,
you could deduct that any advertising marketing, if you have
a website, or you have websites support. I would say
anything directly related to your business, feel empowered to deduct it.
A lot of people are afraid, but if you have
(17:21):
those receipts, you definitely want to deduct it. Another big
one is your car expenses. You could deduct either mileage
or actual expenses. And then there's also it's called Section
one seventy nine deductions, and that's where you could deduct
a lump sum of your purchase instead of depreciating it
(17:46):
or capitalizing it over the years. So for instance, if
you're a ride share driver and you purchased a suv
that's six thousand pounds but under fourteen thousands in twenty
twenty four, and you started using that for your business
over fifty percent, you could deduct up to thirty five
(18:08):
hundred dollars oh for twenty twenty four, and a lot
of people are surprised. And it's not just dedicated to
a rise to your driver. You could be a real
estate agent or anyone like that. That's something to keep
in mind. Or equipment you buy, they have that same
section one point seventy nine where up to a certain
amount you could deduct the whole expense outright instead of
(18:32):
depreciating it over the years.
Speaker 2 (18:35):
One thing that I think that people are confused about
when it comes to deductions like this is people who
they operate their business out of their own home. I'm
thinking like rent, I'm thinking utilities. Is any of that
fair game?
Speaker 3 (18:46):
Yes, so a lot of people are afraid to deduct that.
But if you have a dedicated space in your home
where you're running your business, so it can't be like
your kitchen table where you eat and your kids do homework.
But if you have a dedicated space, you're able to
deduct a portion of your mortgage interests if you have
(19:07):
a mortgage, or rent, utilities, property taxes, all of that,
and it's based on the square footage of your office
that you use and also the irs. They know that
people were hesitant to take this, so they developed a
way that you can do just like a flat deduction.
(19:29):
But if you have a mortgage, property taxes, and things
like that, you should definitely use the other actual expense
deduction because that might be more I'm really glad.
Speaker 2 (19:42):
That you said that you can deduct rent and utilities,
because I definitely did that when I had a business.
And I definitely wasn't entirely sure if I could do
that or not. So thank you for confirming that it's
been a lingering ten year fear of mind that the
government's going to come out for me.
Speaker 3 (19:55):
Yes, no, you can't.
Speaker 1 (19:56):
Okay, great, we'll be right back after a quick.
Speaker 2 (20:01):
Break, and we're back with more grown up stuff. How
do I don't so? What I am curious here? Is
there anything small businesses or people who are self employed
that they should be aware of that maybe aren't so
(20:23):
obvious when it comes to filing their taxes, Like it
was a great example about the SUV for twenty twenty
four that you mentioned about. So are there any like
sneaky boxes to check or receipts to count or what
else can we be doing this? Maybe not so obvious.
Speaker 3 (20:36):
One thing we didn't talk about is when you're self
employed and a small business, you need to make quarterly
estimated tax payments. And so if you expect to owe
one thousand dollars or more, you should make those quarterly
estimated tax payments. Now, if you're self employed, it's called
annualizing your income. A lot of people don't know about this,
(21:00):
but you can avoid penalties for not paying estimated taxes
in a certain quarter virus. They know that you don't
earn your income evenly over four quarters when you're self employed,
so you can recognize your income in the quarter that
you earn it when you do your taxes, and then
(21:20):
you won't get a penalty in those quarters where you
don't show income. So that's like a little trick I
like to tell people, especially since penalties have gone up
from the irs.
Speaker 1 (21:32):
Can you tell us a little bit too about the
benefits for small business owners to use Turbotux business.
Speaker 3 (21:39):
Yes, So the benefits are just you not having to
know the tax laws.
Speaker 1 (21:44):
That's all I need to do.
Speaker 2 (21:45):
Yah.
Speaker 3 (21:45):
Yeah, we make it really easy. You can automatically upload
your documents to the tax experts and then being able
to talk to the experts however you want to talk
to them. You could do it via chat or live video.
You also have the ability to meet with them in
(22:08):
person in some areas, and so that really helps people out.
And then just being self employed or having a small business,
you may come up with questions during the year, and
so our Turbo Tax business experts, once you use them,
they're available year round for you to ask questions, and
(22:29):
that's free for you to call them back. You know,
you might be thinking about a purchase for something for
your business and you might want to ask them, Oh,
I'm thinking of purchasing this equipment in the summer, will
this be deductible on my taxes? So they can give
you that year round support and even help you with
(22:50):
getting ready for your estimated taxes.
Speaker 2 (22:53):
And so I'm curious, like, let's say I'm trying to
do my taxes on my own right, and I go,
I hit a wall, and I give you guys a call.
How can these experts help me while I'm in the
process of doing my taxes.
Speaker 3 (23:05):
If you're in the process of doing your taxes and
you come up with a question, we have access to
the experts online every step of the way, so you
can connect with them and ask them a question and
they can assist you, or you can fully hand your
taxes off to them as well.
Speaker 2 (23:25):
That's good to know. I would always love to try
to do the taxes right. There's something about the tax forms.
I'm like, if I could just get through this, I'll
feel very smart. But good to know that there's an
expert waiting in the wings to correct all of my mistakes.
Speaker 3 (23:37):
Yeah, if you hand your taxes off to them, they
review and sign your return and file it for you,
and it's one hundred percent guarantee. They will not sign
it unless they're one hundred percent sure that it's accurate.
So you're getting that extra comfort that you need. Also,
one of the pain points that we've seen with people,
(23:58):
they drop their taxes off to someone and they don't
know where it is in the process, and so our
tax experts keep you in the loop on where it
is in the process and when it's going to be done.
Speaker 1 (24:12):
This is like when I order food for delivery and
I see the little bike on its way to me. Yes, okay, perfect, Yes.
Speaker 3 (24:18):
And we have implemented that just like your door dash,
we have a tracker that's on your phone and so
you can see where your return is in the process.
Speaker 2 (24:28):
So is it like a dollar bill that's coming closer
and closer to me as my return approaches? Is that? What?
It is? Amazing? I love that I always want to
know where my money is come to me money.
Speaker 1 (24:37):
Although you don't want to see it if the dollar
bill is going farther and further away.
Speaker 2 (24:41):
Oh no, okay, So we've talked a lot about what
TurboTax can do. But I'm curious, you know, Lisa, you're
a CPA, you're a TurboTax expert. What are the features
of the software that you love the most or that
you like working with?
Speaker 3 (24:56):
I would say the ability to easily upload documents and
just the AI that we've implemented to assist people. That
is how we've provided done for you experiences. We have
thousands of business customers that are using our product, and
we had one customer she says she was able to
(25:19):
finish her business taxes in thirteen minutes.
Speaker 2 (25:23):
WHOA, I don't believe that, Like it's a month's long process.
That's amazing.
Speaker 1 (25:28):
Okay, So we talked about having an LLC. But if
someone has a small business and you're not just a
sole proprietor here, how should they go about filing both
business and personal?
Speaker 3 (25:39):
First, you're going to have two deadlines to think about.
So when you're a small business and let's say you're
a multi member LLC, you're going to have the March
seventeenth tax deadline for your business taxes, yes, and then
you're also going to have your personal taxes, and that
deadline's April fifth teeth, so you will have two different
(26:02):
tax returns, unlike someone that's a sole proprietor LLC or
self employed. Right now, we are offering customers that have
the business tax return and personal tax return to do.
We're giving twenty percent off of your personal taxes.
Speaker 2 (26:21):
Nice, and that's twenty percent off of the sales price
of the service. Yes, okay, great, good to know, and
then I have one last question for you and then
we'll all say goodbye. I'm curious to just also hear
a little bit about why you wanted to become a
CPA and how that led you to TurboTax and maybe
what you'd like about working at TurboTax.
Speaker 3 (26:39):
Okay, yeah, so kind of weird. But I learned how
to do taxes after high school, like when it was
paper and I was always really good in math, and
friends and family knew that I could like explain tax
laws really easy, and they started asking me questions, and
(26:59):
I decided to go to college for accounting concentration tax
And back then you could get what was called a
c tech license, So that was a license they had
where you could charge people to do taxes. So I
started doing taxes for people that way, and then after
college I decided to go for my CPA license. And
(27:23):
now also my worlds kind of came together because prior
to high school, I wanted to be a newscaster and
I thought I was too shy to talk to people.
But the VP that hired me at Turbo Tax after
I started working a little bit, she was like, would
you like to be a spokesperson for Turbo Tax? And
I was like, I mean, sure if you train me.
(27:45):
So fast forward, my two worlds collided and I'm able
to do my work as a CVA and also talk
to reporters and do some really fun stuff.
Speaker 1 (27:58):
I was in the stars for you, and also I'm
so jealous that you have the skills of really being
able to crunch numbers and understand the laws and all
of that too. So great job. I know we won't
keep you much longer because it is tax season, so
I'm guessing Lisa has a couple of things to do
to do this today. Awesome, but thank you so much
for joining us and helping to navigate this world that
(28:21):
is not so scary once you break it down.
Speaker 3 (28:23):
Thank you for having me, and I did listen to
some of your podcasts and I really love the topics,
very interesting and you guys make it fun.
Speaker 2 (28:34):
Oh thanks, Lisa, appreciate it.
Speaker 1 (28:35):
You're doing an amazing job being a grown up. So
thank you, thank you, our thanks again to Lisa for
breaking it down for us. Okay, Matt, so tell me
what the next topic you're feeling kind of curious about is.
Speaker 2 (28:53):
Every time I talk to someone about mornings or morning routines,
I always tell them I am an aspiring morning person,
because I truly am. I'm attempting to make this year
the year that I actually become a morning person. And
so next episode we're going to speak with Laura Vandercamp,
who quite literally wrote a book on how to have
a positive and productive morning routine.
Speaker 1 (29:12):
Matt on behalf of my fellow morning people. We will
happily and smugly welcome you into the club.
Speaker 2 (29:18):
I feel embraced.
Speaker 1 (29:19):
Yes, the birds are chirping, the sun is shining. We
are ready to welcome you to the morning. Thank you
until next time, Good luck being a grown up.
Speaker 2 (29:30):
This is a production of Ruby Studio from iHeartMedia. Our
executive producers are Lea Palmer.
Speaker 1 (29:35):
And Matt Stillo. This episode was edited and engineered by
Sierra Spreen.
Speaker 2 (29:40):
We wanted to thank our teammates at Ruby Studio, including
Sarah You, Ethan Fixel, Racis Swan Krasnoff, Ambrus Smith, Debraharett,
and Andy Kelly.
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