Entrepreneurs on Fire
Self-Employed? You Could Be Owed Thousands in Pandemic Tax Refunds with Ryan Umina
Dec 6, 2024
Ryan Umina, a Top 40 Under 40 lawyer, is dedicated to helping self-employed Americans claim pandemic relief tax credits. He discusses the importance of work-life balance for entrepreneurs, reminding them that personal well-being is crucial for success. Umina explains that tax refunds are not taxable, with the IRS even adding 16% on top. He emphasizes the need for education on pandemic tax credits and offers insights on how to navigate the claims process effectively, ensuring self-employed individuals can access vital financial support before it’s too late.
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Quick takeaways
- Self-employed individuals must understand their eligibility for pandemic tax credits, which could yield substantial financial relief before imminent expiration dates.
- The podcast highlights the importance of balancing entrepreneurial goals with personal well-being, essential for sustained success and holistic fulfillment.
Deep dives
The Importance of Pandemic Tax Refunds
Many self-employed individuals may be eligible for significant pandemic tax refunds, potentially amounting to thousands of dollars. These funds stem from tax credits introduced during the COVID-19 pandemic, specifically designed to support self-employed workers, including 1099 contractors. The urgency of claiming these credits is heightened by impending expiration dates; many credits will no longer be available after April 2025. Individuals must be proactive in understanding their eligibility to benefit from these financial opportunities.
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