We discuss the importance of paying yourself before you pay the IRS from 401K plans to HSA and how to make box 2 work for you. We dive into why we stress leading up to getting taxes done then realizing it's not all that bad. As business owners, she reminds us why co-mingling isn’t the best idea, and she explains what ordinary and necessary means for business write-offs.
**A note to our listeners: This episode was recorded before the announcement of unemployment payments being tax-free up to $10,200. Keep that in mind when we talk about the pandemic and the impact taxes had on unemployment.
Links Mentioned: https://www.irs.gov/
If you’re interested in Jenn’s services, click below for access.
Zischke, Walker & Hill Tax Preparation Ltd.
Ferrari Bookkeeping Services Inc.
Jenn@fbsnv.com
Jennzischke@gmail.com
Office number: 702-294-1113
Engage with the Money Party Podcast here: https://linktr.ee/moneypartypodcast
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