Rich Girl Roundtable (with a CPA): Business Writeoffs & Tax Hacks for the Fully & Partially Self-Employed

The Money with Katie Show

Money with Katie

Investing, How To, Self-improvement, Business, Education

4.8 • 1.3K Ratings

🗓️ 29 January 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

What can you write off from your side hustle? Should your business be an S Corp? What's the best retirement account for self-employed folks? We cover it all, once again with the help of CPA & CFP Tim Steffen of Baird Wealth. Reminder: This is not financial advice; please do your own due diligence with a licensed professional. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. Transcript, show resources, production credits and more can be found at https://moneywithkatie.com/business-writeoffs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Rich Girl Round Up.
0:02.0	Love it!
0:07.0	Welcome back Rich People to the Rich Girl Round Table, weekly discussion of the Money with Katie's show.
0:12.8	I'm your host Katie Gaddy Tossan and every Monday we discuss a relevant money topic
0:18.1	a little more casually than we do in our Wednesday deep dives and in keeping with
0:22.2	some of our Q1 theme here
0:24.0	that you might have picked up on, again,
0:26.2	we are talking about taxes.
0:28.7	Before we do that, here's a quick message from our sponsors.
0:39.0	This episode was brought to you by domain money. We get lots of emails asking for specific financial advice,
0:42.0	but I am not a certified financial professional.
0:44.8	So I was on the hunt for a flat fee CFP service whose financial philosophies align with mine.
0:56.1	And then I met Katie Song of domain money and her team of CFPs. From our first meeting I was sold on her perspective so I went through
1:02.4	their process to test it out.
1:04.2	And we didn't start with asset allocation or a budget.
1:08.0	We started with my vision and values for my life.
1:11.6	Then after turning over a comprehensive deep dive into all my finances,
1:15.6	they built a roadmap of actions that would turn that vision into a reality.
1:20.5	Because domain money doesn't manage your assets or sell financial products, there are no perverse
1:25.0	incentives at play. You pay a one-time project fee for a clear, actionable roadmap that you can
1:30.9	follow and feel confident in managing things yourself.
1:34.0	Need more help? You just pay by the hour.
	...

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