TV Financial Expert Winnie Sun of the Popular RENEGADE MILLIONAIRE Podcast Shares Timely and Important Information for Tax Season
You may have seen many of the alarming news reports about tax season. Some experts predict that many people will be receiving smaller refunds or even the shock of getting tax bills. Other reports show that refunds may be up overall. Whatever the case, it just means that tax season has gotten off to a stressful start for most Americans. Fortunately, we have one of the top financial experts on TV and in the nation to help sort through all the taxing issues facing Americans this year. Financial Expert and TV analyst Winnie Sun is available to share some valuable information about everything from refunds to last-minute tax advice.
SOMEONE START TO KEEP UP WITH TAX CHANGES
If you’re self-employed or earned freelance income this year, tax season can seem overwhelming. If you have the right programs it’s a lot easier. I recommend TurboTax Self-Employed and QuickBooks Self-Employed. QuickBooks Self-Employed helps freelancers easily manage finances throughout the year and tackle taxes, with the easy option of filing through TurboTax Self-Employed at tax time every year. If you’re an independent worker, you’ll want to keep a close tab on your finances all year round. You do that through the year using QuickBooks Self-Employed and then your information can be imported to TurboTax Self-Employed, which help freelancers or solopreneurs manage and automatically find industry-specific business deductions that others might miss. NEW this year you can connect self-employed taxpayers to a live, credentialed, CPAs, Enrolled Agents, and Tax Attorneys. For easy year-round tips from QuickBooks Self-Employed on how to manage your taxes effectively log onto quickbooks.intuit.com/self-employed
Here are some easy year-round tips from QuickBooks Self-Employed on how to manage your taxes effectively:
- Get organized year round – you can use a shoebox, but saving your receipts and managing your deductions year round through QuickBooks Self-Employed will save you time and money
- Log Your Expenses – You can’t expect to receive a deduction if you don’t have the documentation to back it all up. Luckily, with a tool like QuickBooks Self-Employed, this becomes infinitely simpler, as it allows you to instantly import expenses directly from your bank account, sort business from personal expenses with a quick swipe, and then through machine learning, the product even learns how to categorize future expenses so it’s all done automatically for you!
- Track Your Miles – While employees of a regular nine-to-five job cannot deduct the cost of driving to and from work, you certainly can if you’re self-employed! Whether driving to see a client, heading to a meeting, going to work from another location, or driving for platforms like Lyft and Uber, you can claim 54.5 cents per mile for 2018, plus the cost of parking and any tolls you paid. Again, QuickBooks Self-Employed can help you do this throughout the year, as the mobile app can automatically track your mileage without killing your phone’s battery. The mileage tracking feature ensures accuracy, allows you classify trips as business or personal, and will even learn that some locations (i.e. a client’s office) are always business related. The mileage data is saved and organized to maximize deductions, and in fact, QBSE users find an average of $7,393 in potential mileage deductions per year.
SOMETHING THAT IS IMPORTANT FOR ANYONE PREPARING THEIR TAXES
Sometimes it’s the easiest things that can cause the most frustration. Have you ever been ready to file and your printer goes out? That’s always fun when you are close to the deadline. If you have the right equipment up front you can avoid all those hassles: Epson’s WorkForce ET-4750 EcoTank printer features revolutionary cartridge-free printing and enough ink to print out thousands of pages. Users can conveniently copy, scan and fax important documents for filing, as well as easily print multiple hard copies of tax forms for safekeeping. You can save yourself a lot of headache if you have what you need up front. Trust me. It will make your life a lot easier. For more information, visit www.Epson.com
SUGGESTIONS FOR WAYS TO SPEND REFUNDS
When considering ways to spend your refund take a look at tech that will last for the long haul. The Nokia 3.1 Plus, available on Cricket Wireless, provides a large 5.99-inch HD+ display making it ideal for content streams and social media, an amazing two-day battery life, a dual-rear camera, great performance and an affordable price tag. On the best of Android for under $160, you can get everything you need in a smartphone and still have plenty of your tax refund left over. For more information, vist www.Nokia.com
SUGGESTIONS FOR GETTING OUR FINANCES IN SHAPE
I also like to remind people that tax season is the perfect time to start your emergency fund. I love SmartyPig. It’s a free, high-yield website that’s very easy to use. It’s also great for people that are saving for specific goals like a down payment on a home, a dream vacation or starting a family. SmartyPig is FDIC insured and it comes with tracking tools, goal planners, helpful reminders, competitive interest rates, referral bonuses and more! For more information, visit www.SmartyPig.com