In this episode of the Make Creativity Pay Podcast, I talk to June Walker, author and tax advisor to the self-employed, about understanding deductions, deciding on a business structure, guarding against being seen as a hobbyist, handling liability, and finally becoming confident and empowered when it comes to taxes and accounting.
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In this episode you’ll learn:
- A simple system that will help you to stop dreading accounting chores and start taking control.
- A surprising answer to that sticky question – should you incorporate?
- Common misunderstandings and how should you handle liability concerns.
- The difference between a hobby and a business (people ALWAYS wonder about this!)
- How to empower yourself to make the most of your deductions.
[2:02] How June helps creatives move past the dread of accounting and taxes.
[5:38] Why you should have simple systems in place even before you make any money.
[8:02] Why mindset doesn’t really matter – and what does.
[10:09] The key to becoming confident when it comes to deductions.
[11:37] What you need to know when dealing with CPAs.
[12:44] Should you incorporate?
[15:20] How do your protect yourself and your assets?
[19:25] Do you have a hobby or a business, and what will the government be looking for?
[22:13] Three keys to developing a powerful mindset.
[27:02] Summing up the creative indie power mindset.
[28:08] Common mistakes, misconceptions, and misunderstandings.
[30:43] How not to let the “big boys” intimidate you.
Transcript: Episode 8 June Walker
Links and Resources
Music Featured on the Podcast
“Dreaming of One Day” (c) 2011, written and performed by Leanne Regalla
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