Moving from employment to full-time self-employment comes with new tax responsibilities. Tax questions, bookkeeping, and business setup can keep you from making sales and growing your business. In this episode of the Sunlight Tax Podcast, I’m breaking down the tax basics every new self-employed business owner needs to understand, including business deductions, self-employment tax, bookkeeping systems, quarterly estimated tax payments, and choosing the right business entity.

The right tax and business systems can help you stay compliant, avoid costly mistakes, and feel more confident running your business. I’ll also introduce my 2-Day Business Intensive, where I help solo business owners get their tax, bookkeeping, and legal setup on solid footing so they can stop second-guessing their business and focus on growing it.

Also mentioned in today’s episode:

00:12 Tax uncertainty can put the brakes on sales

01:35 Why getting your business setup locked in matters

03:49 How payroll helped Hannah double revenue

05:37 The transition from corporate work to self-employment

07:22 Business deductions and first-year startup expenses

09:53 Bookkeeping, tax planning, and self-employment tax

11:06 Why self-employment tax is 15.3%

13:24 Quarterly payments, retirement, and entity questions

15:39 Inside the two-day business setup intensive

17:29 Cohort dates, pricing, and final encouragement

If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Episode Links:

Check out my 2-day Business Intensive

Get my Tax Help on Substack

Order my book: Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed

Get your FREE visual guide to tax deductions