The Money with Katie Show Rich Girl Roundtable (with a CPA): Business Writeoffs & Tax Hacks for the Fully & Partially Self-Employed
Jan 29, 2024
In this episode, Katie and Henah are joined by Tim Steffen, CPA & CFP of Baird Wealth, to discuss tax write-offs for businesses, the benefits of forming an LLC, and the differences between sole proprietor and S-Corp tax statuses. They also explore income decisions, investing for financial growth, tax deductions for using a personal vehicle for business purposes, and compare the advantages of a solo 401k and a SEP IRA for self-employed individuals.
Chapters
Transcript
Episode notes
1 2 3 4 5
Introduction
00:00 • 2min
Tax write-offs and business structures
02:06 • 11min
Income decisions, investing, and deductions for business expenses
12:50 • 3min
Tax deductions for using a personal vehicle for business purposes
16:15 • 6min
Comparison of Solo 401k and SEP IRA for Self-Employed Individuals
21:49 • 3min