Business Mastery Podcast
Business is dynamic. And everything affects you and your business. Fight with your mother-in-law? Mindset struggle? Market Changes? YUP. So, we're going to talk about it all. No topic is off limits.
The goal for every episode is to offer a new and different perspective or provide actionable strategies you can implement now. On the topics you need, to help you run the small business you love, more successfully. To master your own business and to master yourself as its leader and decision maker.
Every Wednesday Dawn K. Kennedy, an attorney, author, mentor and the CEO of Convoy Road Coffee Roasters, releases a new episode for your middle of the week dose of ideas and inspiration. In 45 minutes or less.
Small bites, expert guests, big impacts.
Whether you are a new or seasoned entrepreneur, this show is about all the things around making a bigger impact with your pursuit and growing into your entrepreneurial vision.
Business Mastery Podcast
57. "Top Tax Tips for Small Businesses" with Kristine Stevenson, EA
Dawn talks with Kristine Stevenson, personal finance coach, enrolled agent, and author of “How to Avoid Trouble with the IRS: 10 Best Tax Tips for the Self-Employed, Gig Worker, and Indie Contractor”.
In this episode…
Who is Kristine and whom does she serve? (1:40).
How IRS debt is different from other debt. (2:58).
Where does Kristine see businesses getting in the most trouble with the IRS, and the price they end up paying for getting in that trouble. (3:49).
Employers must withhold a percentage from employees and pay the other half themselves (5:35).
The differences between employees, gig employees, independent contractors and why it’s important to get it right. (7:29).
By law though, in some cases you can’t just contract work, you are required to hire an employee. (12:18).
When you hire an employee, you are paying their wage plus… (15:29).
Taking care of all the tax and withholding does not have to be difficult. (16:31).
Setting up systems is crucial. (17:12).
EFTPS. (19:45).
Reasonable and prudent. (24:30).
What else does a business owner need to know and do to stay out of trouble with the IRS? (26:43).
Resource links:
Kristine’s Website- www.kristinestevensonea.com
Kristine’s Book- How to Avoid Trouble with the IRS: 10 Best Tax Tips for the Self-Employed, Gig Worker, and Indie Contractor. https://www.amazon.com/How-Avoid-Trouble-IRS-Self-Employed/dp/B09XBS7WS1/ref=sr_1_1?crid=1M8G8XEW25BDY&keywords=how+to+avoid+trouble+with+the+irs&qid=1653591824&s=books&sprefix=how+to+avoid+trouble+%2Cstripbooks%2C117&sr=1-1
Dawn’s Website: https://dawnkkennedy.com/
Links and Freebies- https://dawnkkennedy.com/free/
What Clients Say About Working with Dawn- https://entremoneycoach.com/about-dawn/
In-Depth Information, Tips, and Strategies- https://entremoneycoach.com/blog/
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