Ep. 50 - Legal Brief: Tax Planning and Business Income

Tax season is upon us and I'm giving you a few tips to help you get on the right foot.  

There are plenty of myths and misconceptions about when to report your income and what type of return to file.  I've broken it down for you.  

In this episode, I discuss:

• When to start reporting your income and losses;
• How to keep track of your business deductions
• How to pay yourself from your business income;
• What tax return to file for your entity; and 
• Estimated tax payments.

Since it's my 50th episode, I reflect on my milestone and how I plan to slow down, enjoy the moment and look at what I've accomplished.  

Remember with all Legal Briefs, there's a pre-recorded webinar and cheatsheet for you.  This week's cheat sheet is a checklist for organizing and keeping track of your business deductions (this is how most small businesses lose money).

For more information about this episode, visit www.artsteele.co/ep50-businesstaxes

 

Legal Disclaimer:  This podcast episode is for your informational and educational purposes only. By listening to this podcast or download any of the cheat sheets, workbooks, or checklists, you are not establishing an attorney-client relationship with me, which can only happen once you hire me and we enter into an engagement agreement.

For specific questions, please consult an accountant, tax advisor or attorney authorized to practice law in your jurisdiction.