On this episode of the podcast I discuss DBAs, tax filing, and how to audit your business.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

Here are this week's questions:

1. I am a solopreneur of a small health and wellness business and am planning to get married this year. What is the most tax advantageous way for myself and future spouse to file our taxes? Separately? Jointly? - submitted by Christiana

Generally speaking, the best way when you are married is to file - married, filing joint because you get a bit of a better tax rate. A few times you might not want to file jointly is if one person has a lot of student loans or medical bills so it's best to look into that. Note that if you are not filing quarterly taxes for your business, it can eat into your spouse's refund. I share a lot...

On this episode of the podcast I share why going out and hiring someone is not your best first step and what to look for if you do hire someone.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

We get different answers from different people because everyone looks at something from a different lens - an accountant and a lawyer will give you two different answers to the same question, even though tax and law are so related.

Taxes are a function of law - tax attorneys should know the tax law. I often see bad advice from accountants and attorneys (more on that in my podcast episode "Three of the Worst Pieces of Legal Advice I Have Seen in Facebook Groups"). For example, accountants love to throw out arbitrary numbers for how much income you should have before filing for an LLC.

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On this episode of the podcast I answer, tax filing questions from my Facebook group, Braden's Besties.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

Here are this week's questions:

1. My husband and I had an LLC that we closed last year (or didn't renew, or whatever the appropriate term is) and my current CPA is asking for a final K1 for that LLC. That didn't even occur to me, and as it files as an S-Corp, I'm pretty sure we've missed the due date. My current CPA asked me to go back to my previous CPA who had provided K1s for that business in the past - but I'm not working with her anymore and it's the middle of tax season and I would feel really really bad asking. Is this something that I could maybe do myself? I'm pretty sure it would just be expenses with zero revenue. If I can do...

On this episode of the podcast I discuss what you need to take your business from hobby to something that can financially sustain you.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

Building a business that can sustain you. What does that mean exactly? We could definitely talk about sustaining your physical, mental, and emotional health, and we will for sure.

But what I mostly mean is that we need to build a business that can sustain us financially. I would argue that the key difference between playing business and running a business is whether you're committed to whether it can financially sustain you.

That means

1. paying bills

2. paying debt

3. saving for emergencies, etc.

How much do we need to make for our business to sustain us and how do we get there?

Let's start with...

On this episode of the podcast I answer your home office deduction and other small business entity questions from my Friday Facebook Live.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

Here are this week's questions:

1. What's the biggest financial mistake you see sole proprietorships make in their first year? - submitted by Annika P

Short answer: not paying quarterly taxes. People get in the "oh shit" cycle of not saving for quarterly taxes, getting caught off guard, then getting behind on paying them.

2. When I created my LLC  I set it up as a partner LLC with my husband and me. Was that a mistake? He's going to help me with things once I get everything up and running. You mentioned something about a single-member LLC and now I'm wondering if I messed up. We haven't...

On this episode of the podcast my guest, Amy Monroe, answers small business owners' sales and use tax questions.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

1. How to calculate sales and use tax for something that has a service and product component to it. - submitted by Reena Borwankar

For the answer to this, and other sales tax questions, check out Amy on episode 21 of the podcast.

2. What if you have your sales tax ID but have not made any sales? Do you truly submit $0? - submitted by Jamie

Yes, it’s called a zero return. You may get asked to file if a lot of time goes by and you have not filed anything. If you do get one of these letters you will need to file the past returns. Some states will charge you late fees for not filing. If you are filing those zero returns...

On this episode of the podcast my guest, Amy Monroe, talks about use tax and the difference between income tax and sales tax.

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

Income taxes impact a business's bottom line. These are what income tax brackets are based off.

Sales tax is subject to sales of physical goods and products. Learn more about the exceptions to this on episode 21 of the podcast.

Use tax is sometimes referred to as the other side of the same coin as sales tax. You can look at use tax from the point of view of a consumer and the point of view of a business owner.

If you bought something from an online retailer that didn't collect sales tax from you, technically at the end of the year you would self-report the use tax (the sales tax that should have been collected) because you are...

On this episode of the podcast I share the answers to the questions asked on the Friday Live in my Facebook group Braden's Besties

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

Today on the podcast I'm mixing it up. Instead of our usual Tuesday podcast where I answer only one question from my Facebook group, I'm going to be sharing an audio version of my Friday Facebook Live where I answer several questions from Facebook group members like you on anything from specific contract questions to questions about my programs.

Here are this week's questions:

1. If my business was formed as an S Corp but I want to change it to an LLC, what do I need to do? - submitted by Jenny You will need to send in a statement of revocation and also an entity classification election form (IRS form...

On this episode I'm bringing an official end to The Money Series by recapping the financial information and resources my guests and I have shared over the last couple months.

Today on the podcast we’re bringing an official end to The Money Series. If you’re new to the podcast, my guests and I have been sharing information and resources for the last couple of months about money – everything from increasing sales to bookkeeping to taxes. These topics can seem like a total drag, but they’re critical to our business success and I only have fun friends who can make something as stressful as back taxes sound exciting!

I’m rounding-up 10 of the top tips my guests and I shared over the last couple of months and giving you the next step to take after The Money Series – Unfuck Your Finance, available this week only.

To listen to the full episode of the money tips shared on today's episode, check out the following

1. Episode 123...

On this episode I share more about my personal history with finances and how my Unf*ck Your Finance course came to be.

This episode is sponsored by my FREE training: 3 legal & tax mistakes made by new & experienced business owners and how you can avoid them. Sign up for this free Masterclass here, and get ready to unf*ck your biz.

For my 30th birthday I was on a trip and on the airplane of all places I started crunching my business numbers to calculate my profitability. What I learned was that about 60-70% of all of my business income was going back into business expenses each month and that was wayyy too high for my service-based business that should have low overhead. I went back and started cutting expenses I didn't need to have, including trading my $1,000/month WeWork for a home office which has worked for the last year and a half.

My ability to contribute more to the bills provided more income for my husband to have his dream home. I...