Accountants for Creatives®
Accountants for Creatives®
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Don't Get Stuck With Your Spouse's Tax Debt: Innocent Spouse Relief & Filing Options
Filing taxes jointly can save money, but did you know you're equally liable for any errors or debts? This video explores Innocent Spouse Relief and alternative filing options like Married Filing Separately (MFS) to protect yourself. Learn when to consider MFS and when to seek relief from your spouse's tax mistakes.
Bonus: Real-life example of how MFS saved a client from hefty tax debt!
Get informed and avoid tax surprises! Like & subscribe for more tax tips and advice.
zhlédnutí: 8

Video

Tax Update: Major Changes for 2024
zhlédnutí 113Před 19 hodinami
Don't let new tax laws catch you off guard! 🚨 Stay ahead of the game with these crucial 2024 tax updates. In this video, we break down the top 3 tax changes you need to know: - New exceptions to early withdrawal penalties: Learn how to potentially avoid the 10% penalty on your retirement savings. - Beneficial Ownership Information (BOI) Reporting: Understand the new requirements for businesses ...
How to DIY Your Bookkeeping in QuickBooks Online
zhlédnutí 49Před dnem
Dreading drowning in receipts and bank statements? Take control of your finances with QuickBooks Online! This video walks you through the easy steps to set up and manage your own bookkeeping, even if you're an accounting newbie. Learn how to: - Connect your bank accounts to QuickBooks Online - Navigate the user-friendly interface - Organize your income and expenses - Reconcile your accounts - G...
The Best Free Bookkeeping Software in 2024
zhlédnutí 232Před 14 dny
Struggling to keep your finances organized? Drowning in receipts? You're not alone! But fear not, fellow entrepreneurs and freelancers! In this video, I will break down the BEST free bookkeeping software option for you in 2024. We'll cover features, ease of use, and what kind of business each one is perfect for. Whether you're a solopreneur or a small business owner, there's a free solution to ...
Can't Pay Your Taxes? IRS Payment Plans Explained
zhlédnutí 33Před 2 měsíci
Tax Deadline Looming? Don't panic! This video explains how to set up an IRS payment plan if you can't pay your full tax bill. We'll cover who qualifies, short-term vs. long-term plans, applying online, and even explore other options if you're really struggling. Get on top of your taxes without the stress! #taxhelp #irs #paymentplan
Receive a letter from the IRS? Don't Panic!
zhlédnutí 28Před 2 měsíci
Got a letter from the IRS and freaking out? Relax, creative friend! Tax pro Amy Northard is here to walk you through EXACTLY what to do. This video breaks down how to read the letter, respond promptly (if needed), and avoid scams. Remember, knowledge is power - get yours and conquer those taxes! #IRS #taxes #taxtips #smallbusiness
5 Financial Must-Do's Before Launching Your Small Business
zhlédnutí 15Před 2 měsíci
Thrilled about your new business idea? But before you dive in, watch this video with financial guru Amy Northard! She shares the 5 essential financial steps you NEED to take to set your small business up for success. From opening the right bank account to mastering budgets & taxes, this video will ensure your finances are on solid ground. Get ready to turn your creative dreams into a thriving b...
Stipends for Creatives & Businesses: Everything You Need to Know! (Tax Tips Included)
zhlédnutí 17Před 3 měsíci
Unlock the power of stipends! This video dives deep into: - What are stipends & how do they work? - Tax implications for employees & employers (with pro tips!) - Best practices for setting up stipends in your business (3 common methods included!) - Examples of common stipend uses (phone bills, home office, & more!) - Benefits of offering stipends for both employers & employees (attract talent, ...
Pass-Through Entity Tax (PTET): Save Money on Your Taxes as a S-Corp or Partnership Owner!
zhlédnutí 224Před 3 měsíci
Pass-Through Entity Tax (PTET): Save Money on Your Taxes as a S-Corp or Partnership Owner!
IRS - Where Is My Refund? (2024)
zhlédnutí 38Před 4 měsíci
IRS - Where Is My Refund? (2024)
S-Corp Owners: How Much to Pay Yourself? Mastering Reasonable Compensation
zhlédnutí 82Před 4 měsíci
S-Corp Owners: How Much to Pay Yourself? Mastering Reasonable Compensation
Gifts & Taxes: Do You Owe Uncle Sam? (Content Creators, This is Important!)
zhlédnutí 31Před 4 měsíci
Gifts & Taxes: Do You Owe Uncle Sam? (Content Creators, This is Important!)
Should You Pay Taxes or Your Business? Understanding Pass-Through Taxation
zhlédnutí 49Před 4 měsíci
Should You Pay Taxes or Your Business? Understanding Pass-Through Taxation
New IRS Direct File Pilot: Easier Tax Filing for 2024? (States, Eligibility & Benefits)
zhlédnutí 610Před 5 měsíci
New IRS Direct File Pilot: Easier Tax Filing for 2024? (States, Eligibility & Benefits)
Saving on Preschool: Claiming the Child and Dependent Care Credit (CDCC)
zhlédnutí 54Před 5 měsíci
Saving on Preschool: Claiming the Child and Dependent Care Credit (CDCC)
IRS Debt Relief: Can You Get Forgiveness? (Types & How to Qualify)
zhlédnutí 53Před 5 měsíci
IRS Debt Relief: Can You Get Forgiveness? (Types & How to Qualify)
Avoid IRS Audits: 10 Red Flags for Small Businesses and How to Stay Audit-Free
zhlédnutí 194Před 5 měsíci
Avoid IRS Audits: 10 Red Flags for Small Businesses and How to Stay Audit-Free
Fireworks or Fine Wine? Demystifying Capital Gains Tax for Creatives!
zhlédnutí 36Před 5 měsíci
Fireworks or Fine Wine? Demystifying Capital Gains Tax for Creatives!
Can You Deduct Your Gifts to Clients? The Answer May Surprise You!
zhlédnutí 320Před rokem
Can You Deduct Your Gifts to Clients? The Answer May Surprise You!
Today Is the Big Day!
zhlédnutí 29Před rokem
Today Is the Big Day!
Bad TikTok Tax Advice 3.0
zhlédnutí 277Před rokem
Bad TikTok Tax Advice 3.0
Bad TikTok Advice 2.0
zhlédnutí 374Před rokem
Bad TikTok Advice 2.0
Bad TikTok Tax Advice
zhlédnutí 855Před rokem
Bad TikTok Tax Advice
How to Record Fixed Assets in QuickBooks Online
zhlédnutí 22KPřed rokem
How to Record Fixed Assets in QuickBooks Online
How Do Tax Brackets Work?
zhlédnutí 260Před rokem
How Do Tax Brackets Work?
How to Reach a Real Person at the IRS
zhlédnutí 346Před rokem
How to Reach a Real Person at the IRS
Free Accounting Spreadsheet for Photographers
zhlédnutí 11KPřed 6 lety
Free Accounting Spreadsheet for Photographers
How to Record Payroll in Quickbooks
zhlédnutí 15KPřed 6 lety
How to Record Payroll in Quickbooks
Can I use an accountant for my business and a separate one for my personal taxes?
zhlédnutí 309Před 7 lety
Can I use an accountant for my business and a separate one for my personal taxes?
Should I pay my taxes quarterly or all at once?
zhlédnutí 1,3KPřed 7 lety
Should I pay my taxes quarterly or all at once?

Komentáře

  • @MuddyBigfoot
    @MuddyBigfoot Před 7 dny

    I’m autistic and struggle to do some things. My step dad did my taxes years ago. Then he went out of the country and stopped doing them for me, and since I had never done them, I didn’t think about it. Then I stopped working and got married and didn’t know I was supposed to change my name on my social security number until I got divorced. So I never changed my info while married. Now I feel like all my tax info is such a mess, I don’t know where to start. Now tictok wants me to put tax info in to withdraw commission and I can’t even find where to do that and don’t know if I should until I get things sorted. It’s been like 15 years. I don’t have a job right now so I can’t even hire someone to figure it out for me. Not even sure how I’m paying bills this month and TikTok won’t give me my money without adding tax info. Advice?

  • @JimKerr-xl1uv
    @JimKerr-xl1uv Před 7 dny

    Interesting update on the collectable NFTs. I wonder what this all means for Draftkings Reignmakers "cards"?

  • @choudhurishoaib
    @choudhurishoaib Před 7 dny

    Hey Very good discussion ❤❤❤

  • @choudhurishoaib
    @choudhurishoaib Před 7 dny

    Good discussion ❤❤❤

  • @Hirokiji
    @Hirokiji Před 12 dny

    How about journal entry in the account?

  • @kristinacedillo
    @kristinacedillo Před 28 dny

    this is my first time i owed back tax i owe under 3,000as of today. As of working in 2024 i only worked 2 1/2 months im out on an injury and im collecting state disability I'm only getting 70% of my salary . It looks like i wont be going back to work until October or November . do i qualify for the forgiveness under form 656? and if so how do i go about filing on my own?

  • @gimj2008
    @gimj2008 Před 3 měsíci

    How to I record a company vehicle to my fixed assets. The vehicle was purchased many years ago , no current on the vehicle

  • @austinaferg6047
    @austinaferg6047 Před 3 měsíci

    Promo sm 😏

  • @Thereallafayetteleathers
    @Thereallafayetteleathers Před 3 měsíci

    beautiful voice and great topic!

  • @Mike-01234
    @Mike-01234 Před 3 měsíci

    So complicated and can't file with the state lot easier to use one of the online sites let them soak me for $100 again. Turbo tax has been doing this for 30 years, but the IRS can't figure it out states want separate returns. I'm old enough to remember filing a tax return using a form I got from the post office and hand wrote it.

  • @oberstraphry
    @oberstraphry Před 4 měsíci

    Gee $1000 these days isn’t that much.

  • @James-hn4ik
    @James-hn4ik Před 4 měsíci

    Can I include my electric car tax refund when using the IRS Direct File tax form?

  • @adewolesamuel1311
    @adewolesamuel1311 Před 4 měsíci

    Hi there, I hope you're doing well. I was wondering if you could spare a few minutes for a constructive conversation about your Udemy course. Would you be available for a quick call?

  • @BrianCandlish1
    @BrianCandlish1 Před 5 měsíci

    Super helpful!!

  • @sameermishra6244
    @sameermishra6244 Před 5 měsíci

    Good explain.

  • @carringtonlovejr2325
    @carringtonlovejr2325 Před 5 měsíci

    Great job ma'am. You should add "without a loan" into your title, to get more views via search results

  • @BrianCandlish1
    @BrianCandlish1 Před 5 měsíci

    Great tips!! I can start doing these immediately!!

  • @BrianCandlish1
    @BrianCandlish1 Před 5 měsíci

    Learned something new today! Thanks, Amy!

  • @tommybone20
    @tommybone20 Před 5 měsíci

    Hi, I know that this is a 7 year old video, but hopefully you'll still be able to answer this question for me in 2024! I bought an iMac (plus AppleCare+ for iMac with three years) valued at a total of $2468. With tax and recycling fee ($239.46), the total ends up at $2,707.46. However, I bought the computer on December 29th over the Internet, and I did not pick up the computer from the Apple store for usage until roughly two weeks later, which would be mid-January of 2024. Do I count the purchase of the computer for 2024's tax filing year, even though I purchased it on the third-to-last day of 2023?

  • @spiritledpoetess394
    @spiritledpoetess394 Před 5 měsíci

    Hi Amy Northard, My name is Sandra Northard. I would love to chat!

  • @kaycali4912
    @kaycali4912 Před 6 měsíci

    Can you do a tutorial on tiktok seller taxes into quickbooks? No one has done a youtube video on it and there is a lot of demand and need for this tutorial.

  • @jeff6909
    @jeff6909 Před 7 měsíci

    Gosh, I love this. I've been trying to reach a real person at the IRS and couldn't figure out how. I ran across you just doing a Google search. IT WORKS! Thank you!

  • @GarciaVideoProductions
    @GarciaVideoProductions Před 8 měsíci

    So simple and concise - just what I needed. Thank you!

  • @shawnwood9875
    @shawnwood9875 Před 8 měsíci

    How do you know how much depreciation you put in QBO?

  • @zhannavalieva9372
    @zhannavalieva9372 Před 10 měsíci

    I clicked “ new” and never found “ accounting” 😢

  • @paulbarnes1549
    @paulbarnes1549 Před rokem

    This is out of date or only applies to US versions as the options are not available in UK

  • @serenityedits1857
    @serenityedits1857 Před rokem

    Could a better title for the fixed asset account be Office Computers? That way people arent creating accounts for each fixed asset they purchase.

    • @joshuaeggleston6630
      @joshuaeggleston6630 Před 11 měsíci

      I am not sure what level it starts at, however, if you purchase Quickbooks Online Advance, there is a way to do this.

  • @FruitZeus
    @FruitZeus Před rokem

    Hi Amy! I just wanted to say thank you for making this video! short form content like this to help inform people like myself is so valuable. So thank you very much for this!

  • @annafecamarillo5656

    How to record an aircraft acquisition for a non-profit organization?

  • @JPWessner
    @JPWessner Před rokem

    So good!

  • @mariakelley9842
    @mariakelley9842 Před rokem

    This may be a stupid question but, if I record the new purchased item as an asset, then how do I account for the cost for it so that it shows as an expense in my P&L? When I follow the steps you mentioned, my expenses went down on my P&L. For clarification, I'm currently backtracking to fix entry errors. This is one of them.

    • @GrahamArmitageX
      @GrahamArmitageX Před rokem

      I am currently fixing same kind of errors - I think the expense has to be the depreciation amount and not the full asset purchase price - but I would like to know the answer too.

    • @Orozcoi7
      @Orozcoi7 Před rokem

      You shouldn’t expense anything at the time of purchasing an asset, that is why it’s an asset and not an expense. The expense of the asset occurs through the yearly depreciation over the useful life of the asset.

    • @vids595
      @vids595 Před 11 měsíci

      @@Orozcoi7 But then a P&L shows that I have way more income that I actually do. When self-employed we are often asked to provide a P&L as a way to show income, but not all profit is income when your business invests in assets.

    • @joshuaeggleston6630
      @joshuaeggleston6630 Před 11 měsíci

      @@vids595 In the rules of accounting, most large tangible purchases must be capitalized; these are called fixed assets. The "expense" of the purchase is then depreciated over the life of the assets. For example, If you bought a $4,000 laptop and the useful life is four years, then you will expense/write-off $1,000 a year. There are guidelines from the IRS on how long items should be depreciated for. I suggest talking to your tax preparer.

  • @cafecitoconpanasmr2794

    How do you record assets paid with petty cash?

  • @paulmkh
    @paulmkh Před rokem

    Hi Amy, Thank you for sharing this beautiful video. I would love to download this template so I subscribed your channel and also clicked the link you provided but still did not get this spreadsheet. Could you help? Thanks and have a wonderful day.

  • @barbaralarrabee9141

    Are Client clothing props a depreciated asset? Are they a supply or are they a miscellaneous expense?

  • @sarahhardy1603
    @sarahhardy1603 Před rokem

    Question: What percentage of your business income do you use to pay yourself? Or how does this process exactly work? Thanks so much!

  • @JimKerr-xl1uv
    @JimKerr-xl1uv Před rokem

    Knowing your worth is a key understanding to making any related business (or personal) decisions. Need to Know that Your efforts are Worth it!

  • @BrianCandlish1
    @BrianCandlish1 Před rokem

    I'll be over here browsing yachts...lol

  • @MEGSIMONE
    @MEGSIMONE Před rokem

    These are SO GOOD! So many great explanations for these "too good to be true" ideas.

  • @MEGSIMONE
    @MEGSIMONE Před rokem

    These are great! Thanks for compiling and debunking Amy!

  • @BrianCandlish1
    @BrianCandlish1 Před rokem

    Thanks, Amy! Foiled my plans, but saved me from an audit! 😉

  • @niasilil9593
    @niasilil9593 Před rokem

    Useful. Thank you.

  • @Ps40vs1
    @Ps40vs1 Před rokem

    This was a lifesaver! After trying every trick in the book for the past two months I actually spoke to a live person!

  • @BrianCandlish1
    @BrianCandlish1 Před rokem

    How do I write off a boat?! Just kidding! Thanks Amy!

  • @clappingdogmedia
    @clappingdogmedia Před rokem

    Love this video! So helpful@

  • @joeh1682
    @joeh1682 Před rokem

    So, you don't advocate for buying a Tesla Model Y in December & depreciating the full amount that tax year? 🤔

  • @mistymichelle3259
    @mistymichelle3259 Před rokem

    I have a business were I purchase a rack of samples twice a year, then hold parties and take orders for the clothing. It sells best if I wear the clothing also but I'm not the sample sizes so I have to purchase my sizes. Can I deduct my purchases since I'm a billboard for my business?

  • @MEGSIMONE
    @MEGSIMONE Před rokem

    This is the best explanation of Tax Brackets I've ever seen! Now I actually understand it! I always thought all our income was taxed in the "bracket" income maxed at. I didn't realize it goes into different "piggy banks" Thank you for making this fun to learn and easy to understand.

    • @AccountantsforCreatives
      @AccountantsforCreatives Před rokem

      Thanks Meg! You definitely aren't the only one who thought that, which is why we wanted to illustrate the topic! So glad you found it helpful!

  • @mohamedjafran4696
    @mohamedjafran4696 Před rokem

    Really 💯💯💯 helpful

  • @elijah3347
    @elijah3347 Před rokem

    Awesome Tutorial

  • @MissPurpleNine
    @MissPurpleNine Před 2 lety

    I cannot figure out how to save this 😬