The Money with Katie Show Financially Plan for 2026 with Katie: Self-Employment Tea & Contingency Planning
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Nov 19, 2025 Dive into the nitty-gritty of financial planning for 2026! Explore the advantages of hiring a CPA for tax management and bookkeeping. Discover how to estimate irregular income from diverse sources like speaking gigs and podcast revenue. Learn about retirement strategies with Solo 401ks and SEP IRAs. Understand the importance of a robust contingency fund for income disruptions, and find tips for creating a realistic spending plan. Katie also emphasizes prioritizing necessary expenses while keeping flexibility in your budget!
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From DIY Taxes To Hiring A CPA
- Katie had always done her own taxes while mixing W-2 and 1099 income previously.
- Transitioning to full self-employment motivated her to finally hire a CPA for quarterly filing and bookkeeping.
Outsource Taxes And Normalize Cash Flow
- Hire a CPA to handle bookkeeping, quarterly filings, and tax payments once you go fully self-employed.
- Set up a payroll-like system with your CPA to normalize income and reserve taxes in a business account.
Account For Self-Employment Payroll Taxes
- Self-employment shifts you from predictable W-2 withholding to paying both employee and employer payroll taxes.
- Plan for 15.3% self-employment tax and include it in cashflow and tax estimate models.