June 15, 2026

Tax Talk 4 U Setting up your Side Hustle as a Business

Tax Talk 4 U Setting up your Side Hustle as a Business
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Season 4

Tax Talk 4 U When to set up your side Hustle as a business and what business structure should you choose. Tax implications of side hustle. IRS requirements for Gig work. Choosing LLC, INC. or DBA Which works and reduces taxes.

Tax Talk 4 U is broadcast live Mondays at 10AM ET and Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Tax Talk 4 U is viewed on Talk 4 TV (www.talk4tv.com).

Tax Talk 4 U Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.

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WEBVTT

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The topics and opinions express in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicitor implies shall be extended to W FOURCY Radio

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or its employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Barry G.

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Fouler EA brings you tax talk for you right here

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on W four CY Radio and talk for TV. As

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an enrolled agent and a national leader in tax resolution

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as well as Trucker bookkeeping and tax planning. With over

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thirty years of experience, Barry will break down taxes, bookkeeping,

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tax planning, and tax relief for individuals and businesses just

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like you. So let's have some tax talk for you

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with your hosts.

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Barry G. Foul Or, Hey, welcome and good morning.

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You know it's a great Monday morning to be here,

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you know, having Tax Talk for you show. We may

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get some emphasis of some thunder and lightning and definitely

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getting a lot of rain here the Cyprus, Texas, outside

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of outside of Houston.

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But you know, we're here to have a good show.

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That really, you know, the show's come from the questions

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you guys ask and what we can talk about. And

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today's show is all about your side hustle, what you

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do tax wise, how you can save money on taxes

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and you know, have all.

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Of fun with it.

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So I decided today I was just going to kind

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of do a Google search, and you know, one of

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the websites that came up was our Wonderful Irs and

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Died and Come and you know, so it was talking

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about managing taxes gig work. And you know, the first

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line that we see in here they.

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Have on their website you must file a.

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Tax return if you have net earnings from self employment

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of four hundred dollars more from your gigwork, side hustle,

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you know, a side job, part time, temporary, whatever, whoa, whoa,

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wait a minute, this is net earnings of four hundred

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dollars or more. Now, let me just tell you so,

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if you get a ten ninety nine for two thousand dollars,

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but you've netted less than four hundred dollars. IRS is

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still going to ask where this was reported on your

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tax return. They're not going to say, oh, he must

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have only netted three hundred dollars. Now, they're going to

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expect to see it on your schedule. See so kind

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of a misleading first line on the IRS website about

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managing your taxes for gigwork. You know, if if we're

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going to net down to below four hundred, you know,

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you might have had ten ninety ninees for ten or

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twenty thousand dollars and it's still been losing money, you know,

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with appreciation or.

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Expenses or startup costs. They're still going to want schedule

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to see. I'll fall for that. You know.

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We see people all the time that I saw this

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on on Google, I saw this on Syria, or I

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saw this on whatever website they were searching on. Or

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the better yet is, hey, I was talking to a neighbor,

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a friend, or somebody out there in business, and they

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say they never pay tax.

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Sometimes we'd love to see the return. Maybe they're just

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losing money, And I was saying, no, no, no, man.

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They live in a really big house, so they got

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more stuff than we do. Maybe they're writing off everything

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under the sun, or maybe they're just not reporting at all,

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not necessarily le yet. But what is your side hustle,

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you know, or maybe your gig you know, IRS is

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talking about gigwork, certain activity you do to earn income

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offen through an app or a website, digital platform. You know,

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drive a car, car rides, delivery, rent out property or

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part of it, run errands, complete tasks, sell goods online,

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rent equipment, provide creative or professional services, provide other temporary

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or on demand freelance work. And that's just some of

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them that they list, you know. But your side hustle

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could be an offshoot from your job.

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You know.

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Maybe maybe you're a truck driver and you do W

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two driving for somebody else, but then you do special

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deliveries on weekends or outside of your your truck driving

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job that's maybe local, and you're doing other delivery, you know,

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maybe you're doing consulting and similar work that you do

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that you're not competing with your company that you're working for.

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Maybe you're working in your side hustle as being an

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electrician or ac repair or maybe you just like doing

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repairs and maintenance, and that's your side hustle all these things,

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you know, if you're getting paid money, some of them

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may only pay cash, some maybe through you know, zell

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or Venmo or another cash app you know out there,

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And so you're going to have some income potentially reported

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to the I r S based on the apps that you're.

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Using as well.

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If you're doing one of those gigs for driving or whatever,

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then you're going to get reports from.

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Whoever you're driving with of you know, what you've made.

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A matter of fact, I'll even help you by tracking

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some of your miles, maybe not all of it, but

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some of it. So you know, you've got to be

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prepared and looking for ways of writing all your expenses

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off so that you can avoid as much tax as

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possible to your side hustle, depending on how you get

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set up and where you're going, you know, with this

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is going to be taxed or income. We're going to

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kind of run through what the taxes are and then

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we're going to come back to how maybe you should

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set up your side hustle or your business so that

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you can have the best tax strategies to avoid paying

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as much taxes as possible. And we had a quick

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question here from Ham who reports these earnings to the

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tax agency, who reports to the I R S. Well,

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if you're using maybe Venmo or zell or a cash

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app or maybe you take you can using credit cards

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through like maybe PayPal or somebody as well.

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Those companies in and.

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Do report back to the IRS with the ten ninety ninety. Now,

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they have some thresholds you've got to get over before

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they report, but they do report. If you're doing work

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for a company, the company may be required to issue

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a ten ninety nine to you as well, or if

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you're doing work for another business out there, they may

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be reporting your income as well on a ten ninety nine.

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Now they have to do the three reach a threshold

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of two thousand dollars in twenty twenty six, but they

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will report that income to you and their expense of

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what they paid you. So you know that ten ninety nine.

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You should be receiving it by the end of January

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every year, so you would know, hey, this is the

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income they reported. Now just because you didn't receive a

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ten ninety nine, does that mean it's not reportable. Now

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you're supposed to report all of your end so that

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means even if you got paid cash, even barter, those

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things are all supposed to be reported to the IRS

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self reporting. Now, say for me, if you get audited

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on your side hustle and you haven't reported all your income,

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they are going to gross up your income to the

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full amount. How do they do that, Well, first off,

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they're going to get every bank statement you had for

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that year. They're going to total love all your deposits,

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tract your W two's income. If you're getting paychecks and stuff,

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then the rest of it is considered taxable. Now, if

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you come back and able to show that hey, I

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got gifts from family and be able to prove those

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gifts and everything else, then they will subtract that from

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your total revenue. But then they'll come back and say

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this is reportable W two or not just W two income.

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It would be reportable Schedule C income for you. And

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maybe you only reported your ten ninety nine but not

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all the cash that you received and you deposited at

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all in the bank and they can trace it. Guess

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what that all becomes income your bottom line on your schedule.

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See.

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So make sure you're keeping good but keeping records of

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your side hustle so that you have good reporting records

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so that if you do go through an audit. It

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can be a clean audit and not have any any issues. Now,

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if you're not depositing cash and you're keeping cash or something,

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IRS sometimes will come back in and put a dollar

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amount for cash. We've seen that happen that not every

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part of your business credit cards or checks. Positive, they're

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going to make an assumption that part of the money

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that you received is cash. We will helped the client

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go through an audit. Taxation Solutions dot Net do an

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audit representation for this client and he collected everything one

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hundred percent through credit cards, no cash whatsoever. And the

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company when they were going through the audit, the IRS

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auditor came back and impetered a value for cash it

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and just assumed maybe the assumption that this client also

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received cash in for the business and did as requiable income.

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Had a dispute and improve This client never took cash

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and it was all done through certain companies and the

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only way they paid was either check or credit card.

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So you've got to be prepared to that. Just got

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to make sure that you're reporting in and reporting correctly.

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And we've got a few other questions coming in. We're

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going to answer those questions. After we take a quick break.

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We have only scratched the surface of today's show. Please

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stand by as Barry G. Fowler will be right back

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with tax talk for you. If you owned the IRS

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or are going through an IRS audit, don't go at

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it alone. Called Taxation Solutions tax Relief at eight eight

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eight nine three zero one zero one six. We are

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your solution for IRS debts, audits, back taxes, garnishments, leans

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and levees. Whether you're an individual or business, you need

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a solution and a strong, aggressive tax resolution. Don't let

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the IRS walk all over you. Stop the IRS now

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call eight eight eight nine three zero one zero one

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six or go to Taxationsolutions dot net now for a

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free no obligation consultation. Let's get back to tax stock

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for you with more tax stock once again.

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Here's your host, Barry G. Fowler. Hey, welcome back.

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We're talking setting up your side hustle as a business,

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and we're going to get to talking about how you

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would want to settle up set up your company as

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a business. As you talk a little bit more about

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the taxes and the tax implications of having your side

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hustle and the things that you kind of need to do,

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and then we'll get into how your side hustle should

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be set up as far as the company's structure and

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stuff goes. We had a great question to come in

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about who was reporting earnings for your side hustle, and

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we talked about ten ninety nine NEECs, which is the

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non employee compensation that you're receiving ten ninety nine k's

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that are being reported by merchant service accounts such as PayPal,

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venmo Zell, all those people out there, So you know,

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you kind of got to always watch what you're reporting

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and making sure you get all your income reported, not

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just the income that's reported on your ten ninety nine's.

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Steph had a question here if.

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A company is using quick Books for register for sales,

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would and should the company you still.

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Seek a bookkeeping service. Deep that's a great question.

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First off, I have a better recommendation for keeping track

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of business and that is software called zero x e RO.

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We prefer that actually over QuickBooks and allows you to

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do certain things that QuickBooks doesn't allow you to do.

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But we as a company that does also bookkeeping taxes

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for people, we like to use zero for.

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Our clients and I do always.

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Suggest you find a good bookkeeping service integrated with a

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tax service to hire to handle your books, because one

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they're going to actually go through the information to make

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sure you're getting all your production. Two they're going to

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be able to integrate with what's happening in your taxes

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and be able to give you advice ahead of time

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what you should be doing for your tax situation to

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help reduce your taxes before April fifteenth or when you

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go to file. That's the worst time to get advices

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after the fact and you can't do anything about it.

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So those are the kind of things.

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That you would be looking for and getting help with

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your bookkeeping service, with your tax services and everything out there.

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Kelly asked, does your company handle the books of a

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consignment stores. Yes, we can handle the books for consignment stores.

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You know, we are multi faceted. One of our facets

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of what we do is we do bookkeeping and taxes

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for truckers to be at.

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Trucker Tax Tools.

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Our sister company, Taxation Solutions, does tax relief and we

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also do handle the books for various companies out there.

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And then we have various partners with us that are

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working with us club that if it aligns with their expertise.

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We can get aligned with them so that you're getting

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the quality of service that you need. But yes, we

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do handle the books for consignment stores. We'll also handle

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the books for any other retail stores that are out there. Daycares,

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pretty much, you name it, we can do it. Glad

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to help you through this. But you so as you're

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looking for that kind of service, you want to find

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somebody that's kind of integrated that they can help you

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with the taxes. We've seen a lot of people that

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are now out there hawking their wares as a side hustle,

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as a book keeping only service. Those guys, what they're

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trained to do is just to use a bookkeeping software,

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take your information, just put it in and be done.

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They don't look at the information, they don't clean anything

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out of your information. They're not there really to help

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you other than to do some entry because they're not

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taught anything other than hey, let's make sure that you

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know the bank information went in and it's reconciled and

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we're done.

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You know. I saw that from.

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A friend of ours who decided they were going to

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take a bookkeeping class through one of these online services

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to learn bookkeeping service to sell you. And they came

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back to us and said, hey, can you do the taxes?

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Well we know you really well, so yeah, we can

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do that. Their first client they brought to us, we

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went what is this and then went, well, it's the bookkeeping.

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You know, I was trained via x y Z company

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on what something I saw on Facebook and social media

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and this is what they showed us how to do.

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Huh And the client ad you for this, then well yeah,

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you know we did it their way and any pay

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is really really well to do this because you know

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we can do this for these make no sense. So

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you make sure it's somebody that's integrated with you know,

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being able to do taxes, and you know they have

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more than just experience of some online course, because that's

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what gets you in trouble. You know, we've seen it

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through some of the businesses that compete with us on

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trucking businesses.

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They do a statement that they.

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Call a financial statement, which is really nothing more than

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what is a cash flow statement, cash in, cash out,

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Here's where your cash went. But it is not a

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financial statement. You know, they're showing your payment to let's

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say your truck or your tractor your equipment, Uh, totally

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being deducted because it's just a cash flow statement. You know, hey,

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this is how much money came in, this is where

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the cash flowed out to, and this is what you

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have left. Well, it's not a financial statement. It doesn't

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tell you what you're going to pay tax on.

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It doesn't tell you what your net income is, doesn't

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tell you what your fixed assets on. None of that

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tells you that.

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It just says, hey, these are your payments going out.

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So you know, you kind of got to watch who's

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doing financial statements for you and making sure that it's

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financial statements and something that.

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You can read.

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I mean, we do things that are really nicer in

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comparison and stuff. So you know, you're kind of looking at,

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you know, what kind of information you get, and then.

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When you're getting that information, so how is it going

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to be used? Well?

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As your side, Hustle, we're looking at the tax implication

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and what's one of the biggest taxes you've got to

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pay on your side, hustle, self employment tax, mister Treveller,

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what's self employment tax? Self employment tax is a Social

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Security and Medicare taxes. Now, when you're self employed, you

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get to pay both halves. When you're an employee, you

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pay one half, your employer pays the other.

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So it's fifteen.

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Point three percent of your net income on your business.

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So you know, if your side hustle nets you ten

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thousand after all your expenses, you're going to pay one thousand,

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five hundred and thirty dollars in solid security taxes and

320
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a half of that's deductible on your on your ten forty.

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But you're going to pay that amount of tax CEO

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point four percent solid security, two point nine percent in Medicare.

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Now you know, if you fit the max on your

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W two, then you're not going to end up paying

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this tax over Okay, you are going to still pay

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the half, but you're not going to pay the full

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fifteen point three percent. Lucky you get to pay more tax. Hey,

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That's why it's important get every expense you could possibly

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get for your business. And if you do hire a

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bookkeeping company in a tax company, or bookkeeping and tax

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at one company, because you pay them are deductible from

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your business.

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That you go, so keep that mine, you know.

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So you're going to be looking at ways to reduce

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your tax, you know, and start by looking at your

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vehicle mileage where are you going for your business to

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keep track of it. Anything you're driving for for business

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too and from is going to be deducted at the

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standard mileage rate or you can choose actual, but most

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of the time most people are going to choose the

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standard mileage rate to keep track of your mileage. To

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use the mileage log, use a calendar chart where you're going,

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chart with your expenses go from there. Supplies, equipment, software,

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marketing materials, tools required for doing the work are all

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things that are going to be deductible, and you want

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to make sure you're catching all of those expenses. So

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the more expenses that relate to business, the lower your

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net income is from business, the lower the self employment

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taxes are going to be for the business. Now, what

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other taxes are you going to pay as a business,

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because taxes can get expensive, So we're going to continue

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talking about the other taxes and more things you could

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possibly do to avoid taxation of your net income from

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your business.

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And we're going to do that right after the short break.

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We have only scratched the surface of today's show. Please

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stand by as Barry gif Fowler will be right back with.

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Tax Talk for you.

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As an owner operator, you already spend too much time

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00:21:25.480 --> 00:21:29.279
away from your family. Trucker Tax Tools handles all your

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00:21:29.279 --> 00:21:32.519
bookkeeping and taxes. No matter what level trucker you are.

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00:21:32.759 --> 00:21:35.960
Life on the road can be taxing, but that doesn't

363
00:21:36.000 --> 00:21:39.359
mean that your wallet or time with your family should suffer.

364
00:21:39.880 --> 00:21:43.839
Trucker Tax Tools makes your life run smoothly. Go to

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00:21:43.880 --> 00:21:46.680
Trucker tax Tools dot com for a free guide that

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00:21:46.799 --> 00:21:50.400
will give you the tools to never worry about your

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00:21:50.440 --> 00:21:54.960
taxes again. Call Trucker Tax Tools eight seven seven nine

368
00:21:55.079 --> 00:21:59.200
sixty six two four seven seven or go to Trucker

369
00:21:59.279 --> 00:22:02.799
tax Tools dot com now and let the experts keep

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00:22:02.839 --> 00:22:08.720
you trucking. Let's get back to tax Talk for you

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with more tax Talk once again. Here's your host, Barry Giallo.

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Taxes, Taxes, taxes, and that's why we have tax Talk

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for you. If you've missed the prior episode, or maybe

374
00:22:24.079 --> 00:22:25.880
you missed part of this episode and you want to

375
00:22:25.880 --> 00:22:27.720
go back and hear it, and you go catch our

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00:22:27.759 --> 00:22:31.920
podcast at tax Talk the Number four letter you dot

377
00:22:31.960 --> 00:22:35.920
com Again, it's tax Talk the number four letter you

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00:22:36.160 --> 00:22:40.000
dot Com. Or hey, better yet, head over to Facebook

379
00:22:40.039 --> 00:22:43.599
and look us up on Facebook. You can see these

380
00:22:43.680 --> 00:22:48.480
replays possibly over at Taxation Solutions dot nets facebook page

381
00:22:48.599 --> 00:22:53.279
or even truck your tax Tools Facebook page and connect

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00:22:53.319 --> 00:22:56.839
with us, you know, over there and be able to

383
00:22:56.880 --> 00:22:58.759
see these shows and go back and listen to the

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00:22:58.799 --> 00:23:03.200
shows so that anything you've missed or maybe we kind

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of ran through quick and you want to go back

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and listen to it again.

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It's a great way to do it, you know.

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But again we're talking taxes, and we're talking about your

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side hustle, and when you're going through and setting up

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your side hustle, you've got to kind of know what

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the tax is. And we were talking about self employment

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tax at fifteen point three percent, that's going to hit you.

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It's going to come right off the top of your

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bottom line net income, and so reducing that income is

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imperative to reducing your taxes. Now, reducing that that income

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from your business has a reduction in taxes multiple ways. One,

397
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it's going to reduce your self employment income. One, it's

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going to reduce the taxes on that self employment income,

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such as your federal income tax. And if you're unfortunate

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enough to live in a state that has a state

401
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income tax, it will help reduce state income tax on

402
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that income as well, so you're finding every expense. You know,

403
00:24:02.839 --> 00:24:05.480
the other expense that you may have and people overlook

404
00:24:05.680 --> 00:24:08.920
is your personal cell phone. What percentage of that cell

405
00:24:08.960 --> 00:24:13.480
phone do you use for business? That percentage is deductible.

406
00:24:13.680 --> 00:24:16.599
So if it's fifty to fifty seventy thirty, never that

407
00:24:16.640 --> 00:24:19.799
percentage is you get to take that deduction. Well, you

408
00:24:19.839 --> 00:24:24.000
can also take possibly the home office deduction, which is

409
00:24:24.039 --> 00:24:29.920
a portion of your house rent, mortgage, utility bills for

410
00:24:30.039 --> 00:24:33.960
a space that is exclusively used for business. Now we're

411
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saying exclusively because that's what the IRS says. Exclusively used

412
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for business means. You're not deducting your dining room that

413
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you're eating dinner breakfast in. You're not deducting your family

414
00:24:48.240 --> 00:24:50.960
room where you're sitting and watching TV the kids are playing,

415
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or the game room.

416
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You're deducting an office that is used exclusively for business.

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If the IRS ever came out and they show up

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and you've got toys all with the place and whatever

419
00:25:02.200 --> 00:25:05.160
else personal stuff all throughout that room, they're going to say,

420
00:25:05.160 --> 00:25:07.799
I know this home office is been a long time

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00:25:07.839 --> 00:25:10.200
since I've seen them do a house visit. But that

422
00:25:10.200 --> 00:25:15.519
can happen just don't know. Lastly, you know you've managed

423
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to find all your expenses, You've managed to find all

424
00:25:18.720 --> 00:25:22.559
the deductions you can possibly take. You've tracked all your income.

425
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You've set up your own bank account just for the businesses.

426
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You run everything through there and be able to watch

427
00:25:29.680 --> 00:25:32.319
the money. Now, what else can I do to reduce

428
00:25:32.440 --> 00:25:34.519
my taxes? When you might be able to set up

429
00:25:34.559 --> 00:25:37.160
a four to one K for your plan or a

430
00:25:37.480 --> 00:25:42.440
simplified employee pitching to sock money away that allows you

431
00:25:42.519 --> 00:25:44.680
not only to sock the money away on the personal side,

432
00:25:44.680 --> 00:25:49.680
but also with your business match with those investments and

433
00:25:49.839 --> 00:25:53.319
using those for your retirement account. Depending on how your

434
00:25:53.359 --> 00:25:55.480
company is set up, there may be other options for

435
00:25:55.599 --> 00:25:58.559
you that you go through and do so. Now you

436
00:25:58.599 --> 00:26:01.359
want to start setting money aside for taxes. If you're

437
00:26:01.400 --> 00:26:05.160
not going to hire somebody to help you figure out

438
00:26:05.160 --> 00:26:07.599
your estimated taxes, figure out what kind of taxes are

439
00:26:07.640 --> 00:26:09.880
going to be paid on this. We always tell you

440
00:26:09.920 --> 00:26:12.039
to set aside, you know, twenty five or thirty five

441
00:26:12.079 --> 00:26:15.839
percent of your profits from your side hustle, so that

442
00:26:16.119 --> 00:26:19.480
when you do have that surprise at April fifteenth or

443
00:26:19.599 --> 00:26:22.519
go to file, you have the money set aside already

444
00:26:22.920 --> 00:26:26.480
pay the taxes. Now if your taxes weren't that high. Hey,

445
00:26:26.960 --> 00:26:30.279
you just started a savings plan and you've got money

446
00:26:30.279 --> 00:26:34.240
set aside for your business or ups and downs. That

447
00:26:34.400 --> 00:26:36.599
is one way you can accomplish it.

448
00:26:36.799 --> 00:26:37.000
You know.

449
00:26:37.119 --> 00:26:39.519
Another thing you're going to have to start doing is

450
00:26:39.559 --> 00:26:43.839
looking at paying quarterly tax estimate. The IRS says you've

451
00:26:43.839 --> 00:26:45.720
got to figure out what you're going to owe and

452
00:26:45.759 --> 00:26:49.599
make your quarterly estimated tax payments using IRS Form ten

453
00:26:49.720 --> 00:26:52.759
forty yes, or just go online and make the payment

454
00:26:52.839 --> 00:26:56.000
at IRS dot gov payments and you can make your

455
00:26:56.079 --> 00:26:59.799
quarterly tax there. Now, if you're W two with hoys

456
00:27:00.119 --> 00:27:03.039
be enough to cover and offset your gig income and

457
00:27:03.119 --> 00:27:05.799
you've done the calculation, or you've had your tax professional

458
00:27:05.960 --> 00:27:09.640
do that calculation, and estimates aren't required. If you can

459
00:27:10.039 --> 00:27:13.279
increase your withholding on your W two pay because you

460
00:27:13.559 --> 00:27:17.559
have this other income coming in and it'll cover required estimates,

461
00:27:17.599 --> 00:27:20.279
then then you don't have to make those estimate tax

462
00:27:20.319 --> 00:27:24.160
payment as well. All right, now we know we've hit

463
00:27:24.200 --> 00:27:28.200
the taxes, hit the expenses. We're trying to find all

464
00:27:28.240 --> 00:27:32.599
the expenses. How in the world should I set up

465
00:27:32.839 --> 00:27:36.599
my business for my side. Also, do I really need

466
00:27:36.640 --> 00:27:41.519
a corporation? Should I be just as a DBA? Do

467
00:27:41.599 --> 00:27:44.559
I even need a DBA? Do I need an LLC?

468
00:27:45.160 --> 00:27:48.680
Do I need to be incorporated? So you have options.

469
00:27:48.839 --> 00:27:51.240
You can go out and do a DBA doing business

470
00:27:51.279 --> 00:27:56.480
as Jeff's Widgets and file on schedule See. You can

471
00:27:56.559 --> 00:27:59.200
go out there and set up a company as Jeff

472
00:27:59.279 --> 00:28:04.400
Widgets LLC and you can report as schedule CE, or

473
00:28:04.480 --> 00:28:07.160
you can make the election to be an escort or

474
00:28:07.799 --> 00:28:10.920
if you have a well if you member LLC, you

475
00:28:10.920 --> 00:28:14.160
can file a partnership return, or you could have went

476
00:28:14.200 --> 00:28:18.880
and incorporated and been Jeff Widgets Inc. Jeff Widgets Incorporated

477
00:28:19.400 --> 00:28:22.720
and you can report as an eleven twenty or you

478
00:28:22.720 --> 00:28:25.119
can make the election to be an eleven twenty s

479
00:28:25.160 --> 00:28:29.680
which is an escort. Well, then there's also the general partnerships.

480
00:28:29.319 --> 00:28:31.920
That are out there. Which option is right for you?

481
00:28:32.319 --> 00:28:35.319
Well, from a legality standpoint, the first thing we tell

482
00:28:35.319 --> 00:28:37.400
you to do is go and consult with an attorney,

483
00:28:37.720 --> 00:28:41.480
because they're going to tell you liability protections and other

484
00:28:41.559 --> 00:28:45.599
things that you want to know to protect yourself, your assets,

485
00:28:46.079 --> 00:28:50.079
in your business and personally. The attorney is going to

486
00:28:50.079 --> 00:28:53.279
be the one that's going to advise you for liability protection.

487
00:28:53.759 --> 00:28:56.160
We're not attorneys, never wanted to be attorneys, and don't

488
00:28:56.240 --> 00:28:59.759
charge legal fees, So don't call me for that legal advice.

489
00:29:00.240 --> 00:29:03.559
Call the local attorney that you know. Get the legal.

490
00:29:03.319 --> 00:29:05.079
Advice that you need now.

491
00:29:05.519 --> 00:29:09.559
Tax wise, which is the best, that's where your tax

492
00:29:09.640 --> 00:29:13.400
professionals be able to talk to you about what kind

493
00:29:13.440 --> 00:29:19.359
of protections you have tax wise, DBA or no DBA.

494
00:29:19.480 --> 00:29:23.480
If you're doing business as yourself out there or doing

495
00:29:23.519 --> 00:29:28.039
business as deff widgets, then guess what that reports on

496
00:29:28.119 --> 00:29:32.759
Schedule CE. Net income is going to be taxed as

497
00:29:32.799 --> 00:29:37.119
we've been discussing self deployment tax on your net income

498
00:29:37.680 --> 00:29:41.160
and all your income is reported on Schedule CE and

499
00:29:42.079 --> 00:29:44.519
you go from there. Not a bad way if you're

500
00:29:44.559 --> 00:29:47.799
just run a small gig, not expecting to really increase,

501
00:29:48.000 --> 00:29:51.640
not expecting anything to really come of it. That you're

502
00:29:51.680 --> 00:29:53.680
just doing this to make a little bit of money

503
00:29:53.720 --> 00:29:55.359
and you have a little bit of money come so

504
00:29:55.519 --> 00:29:59.559
not a bad way of doing it. The expense of

505
00:29:59.599 --> 00:30:03.640
setting up up is nil, basically nothing. You can go

506
00:30:03.720 --> 00:30:08.200
down to local tax office and get a DBA name.

507
00:30:08.400 --> 00:30:10.680
I don't know what they cost these days. I know

508
00:30:10.920 --> 00:30:13.960
one time it was fifteen or twenty five dollars fifty

509
00:30:14.039 --> 00:30:19.200
or something. Now with inflation and the cost of government

510
00:30:19.279 --> 00:30:22.440
these days, but that's local government, so you'd have to

511
00:30:22.440 --> 00:30:26.400
go down there and get that DBA doing business ass.

512
00:30:26.720 --> 00:30:32.519
Next option is maybe being an LLC limited liability company.

513
00:30:32.680 --> 00:30:35.359
Now what limits of liability do we have? Again, call

514
00:30:35.400 --> 00:30:38.319
your attorney. Talk to your attorney. Let's find out from

515
00:30:38.400 --> 00:30:41.960
him or her what your company if you set up

516
00:30:42.000 --> 00:30:45.200
your LLC, what the limits of liability would be. What

517
00:30:45.240 --> 00:30:48.640
am I liable for XYS When you first set it

518
00:30:48.720 --> 00:30:52.480
up as a sole member, it is no different than

519
00:30:52.640 --> 00:30:57.599
being a DBA doing business ASS. It's going to report

520
00:30:57.880 --> 00:31:02.119
where on schedule. So when it reports on schedules, see,

521
00:31:02.200 --> 00:31:07.039
then that income is still subject to self employment tax federally,

522
00:31:07.319 --> 00:31:12.599
so you know the LLC as far as paperwork and

523
00:31:12.640 --> 00:31:15.799
stuff like that goes, it's a little bit more straightforward,

524
00:31:15.880 --> 00:31:18.720
a little bit easier, a little more lenient. When you're

525
00:31:18.759 --> 00:31:21.200
talking to your attorney, ask them what kind of paperwork

526
00:31:21.319 --> 00:31:24.839
is required of your LLC, what kind of annual meetings

527
00:31:24.880 --> 00:31:28.119
it's required, What do we have to document? Those are

528
00:31:28.160 --> 00:31:31.640
all things your attorney can tell you from a tax standpoint,

529
00:31:32.039 --> 00:31:34.680
you're going to set up a separate bank account or

530
00:31:34.880 --> 00:31:38.720
your LLC, you're going to get a separate employer identification number.

531
00:31:39.000 --> 00:31:41.559
If you back up to a DBA, it's most likely

532
00:31:41.599 --> 00:31:44.599
going to run just under your Social Security number. However,

533
00:31:44.759 --> 00:31:48.480
you can file for a employer identification number for your

534
00:31:48.559 --> 00:31:51.720
DBA as well. That is required if you're going to

535
00:31:51.759 --> 00:31:58.480
actually have payroll for employees, not yourself employees, and therefore

536
00:31:58.559 --> 00:32:02.480
you can you can run that way. Your LLC is

537
00:32:02.519 --> 00:32:05.759
going to have its own employer identification number, is own

538
00:32:06.000 --> 00:32:09.559
bank account under that employer identification number. When you are

539
00:32:09.599 --> 00:32:12.160
working for somebody and they request at W nine, you're

540
00:32:12.200 --> 00:32:15.559
going to fill it out for your LLC and give

541
00:32:15.599 --> 00:32:20.039
them the employer identification number for the LLC so that

542
00:32:21.200 --> 00:32:23.200
you know when they give you a ten ninety nine.

543
00:32:23.319 --> 00:32:26.400
If they give you a ten ninety nine for your LLC,

544
00:32:27.200 --> 00:32:33.240
it's reported underneath the company itself. Now your grosser revenue

545
00:32:33.240 --> 00:32:35.640
and all your expenses and everything else is going to

546
00:32:35.680 --> 00:32:39.400
be reported on Schedule C unless you make the election

547
00:32:40.200 --> 00:32:45.680
to be a escort or when you set it up,

548
00:32:45.880 --> 00:32:49.759
you set it up as a multi member LLC, then

549
00:32:49.799 --> 00:32:53.039
you would report as a partnership or a multi member,

550
00:32:53.240 --> 00:32:56.759
so got to keep those things in mind as well.

551
00:32:57.119 --> 00:32:58.559
Now we're going to take a short break.

552
00:32:58.559 --> 00:33:00.519
When we come back, we're going to talk about multi

553
00:33:00.519 --> 00:33:04.240
member reporting and escort reporting, and then we'll get into

554
00:33:05.480 --> 00:33:09.599
Gifts Widgets, Inc. And talk about how they're going to

555
00:33:09.640 --> 00:33:12.240
be taxed, so how you would set up your business

556
00:33:12.240 --> 00:33:13.559
on that side.

557
00:33:13.759 --> 00:33:17.279
Right after this, we have only scratched the surface of

558
00:33:17.359 --> 00:33:21.319
today's show. Please stand by as Barry G. Fowler will

559
00:33:21.359 --> 00:33:26.960
be right back with tax talk for you. As an

560
00:33:26.960 --> 00:33:30.440
owner operator, you already spend too much time away from

561
00:33:30.440 --> 00:33:34.799
your family. Stop spending time doing paperwork. Go to Trucker

562
00:33:34.839 --> 00:33:39.279
tax tools dot com a solution filled specifically for truckers.

563
00:33:39.599 --> 00:33:43.319
Trucker tax tools dot Com makes your life run smoothly.

564
00:33:46.119 --> 00:33:48.960
Let's get back to tax talk for you with more

565
00:33:49.119 --> 00:33:50.920
tax tock once again.

566
00:33:51.400 --> 00:33:53.920
Here's your host, Barry G. Fowler.

567
00:33:56.240 --> 00:33:59.279
Hey, welcome back, Alman. I had a great question and

568
00:33:59.319 --> 00:34:00.599
guess who it came from?

569
00:34:00.880 --> 00:34:01.359
Jeff.

570
00:34:01.680 --> 00:34:05.279
He must be the owner of Jeff Widgets. Just kidding,

571
00:34:05.319 --> 00:34:07.079
but yeah, we did a question from Jeff.

572
00:34:07.119 --> 00:34:10.199
Come in and the question from Jeff is going to

573
00:34:10.239 --> 00:34:13.280
be the topic of next week's show. How about that?

574
00:34:13.360 --> 00:34:13.800
I told you.

575
00:34:13.840 --> 00:34:17.679
We get good questions coming in here and we end

576
00:34:17.760 --> 00:34:20.800
up with the topic for next week's show what happens

577
00:34:20.840 --> 00:34:24.800
tax wise when I sell my business? Hey, that's a

578
00:34:24.840 --> 00:34:29.239
great question. I be a nice long discussion of what's

579
00:34:29.280 --> 00:34:31.719
you got to do when you're selling your business and

580
00:34:31.800 --> 00:34:35.400
the tax implications of selling your business. And guess what

581
00:34:35.480 --> 00:34:39.079
those tax implications can vary based on entity structure and

582
00:34:39.159 --> 00:34:42.599
the way you sell your business as well. Hey, back

583
00:34:42.639 --> 00:34:44.719
to setting up that side housele before you sell it,

584
00:34:44.800 --> 00:34:46.599
you got to actually run it and make some money

585
00:34:47.000 --> 00:34:51.280
so you have something to sell. And we're talking about

586
00:34:51.559 --> 00:34:54.599
you know LLCs. Now, when you're a multi member LLC,

587
00:34:54.800 --> 00:34:56.760
you have to report as a partnership. Now you can

588
00:34:56.800 --> 00:35:00.800
make that escort election, but there's some advantages to a partnership.

589
00:35:00.840 --> 00:35:02.599
And so if it's just you and your partner or

590
00:35:02.679 --> 00:35:06.559
partners working in the business, you get paid by guaranteed payment,

591
00:35:07.679 --> 00:35:10.000
as opposed to if you make the election to move

592
00:35:10.039 --> 00:35:14.280
your LLC to a escorp, then you get paid by

593
00:35:14.719 --> 00:35:18.639
W two payroll. If you're still a single member LLC

594
00:35:18.840 --> 00:35:24.119
reporting under Schedule C, you don't report payroll, you know whatsoever,

595
00:35:24.639 --> 00:35:26.960
because your bottom line is tax for that.

596
00:35:27.880 --> 00:35:31.360
Self employment income and stuff out there.

597
00:35:31.679 --> 00:35:34.880
So you know what's the best way. It's really going

598
00:35:34.920 --> 00:35:37.800
to depend on net income for your business. If you're

599
00:35:37.800 --> 00:35:41.639
a multi member partnership, is the ideal way of doing

600
00:35:41.719 --> 00:35:44.239
it on a ten sixty five because we can relate

601
00:35:44.360 --> 00:35:50.599
guarantee payment, be reasonable pay. If you're single member, we're

602
00:35:50.599 --> 00:35:53.039
going to be looking at net income. Now we're going

603
00:35:53.079 --> 00:35:54.960
to explain how we're gonna look at net income after

604
00:35:55.000 --> 00:35:59.719
we talk about corporations out there. Why you make an

605
00:35:59.800 --> 00:36:03.880
ESQ election for both either an inc or a LLC.

606
00:36:04.280 --> 00:36:07.280
So when you set up the Jeff Widgets Inc. You're

607
00:36:07.320 --> 00:36:09.800
automatically going to be reporting on an eleven twenty which

608
00:36:09.800 --> 00:36:13.840
is an eleven twenty C corporation. Corporation pays its taxes,

609
00:36:14.239 --> 00:36:17.280
makes a distribution to you as dividends, and then you

610
00:36:17.320 --> 00:36:21.199
pay tax double taxation. Get away from that quick. We

611
00:36:21.280 --> 00:36:24.639
don't want double taxation. You're going to make the ESCORP

612
00:36:24.840 --> 00:36:28.880
election at that point, really no choice in doing that

613
00:36:28.960 --> 00:36:32.239
because it avoids double taxation, being tax at the corporate

614
00:36:32.320 --> 00:36:35.360
level and then taxed on the personal level. Well, now,

615
00:36:36.000 --> 00:36:39.719
if you were an LLC and making that election, it's

616
00:36:39.760 --> 00:36:42.599
based on net income, So there's a huge difference between

617
00:36:42.599 --> 00:36:46.360
an inc and an LLC on when you make the

618
00:36:46.679 --> 00:36:50.239
escorp election. So, as an ink, you make the escort

619
00:36:50.320 --> 00:36:54.079
election when your net income gets high enough that you

620
00:36:54.079 --> 00:36:57.639
can repay yourself a reasonable salary which is less than

621
00:36:57.639 --> 00:37:01.280
the net income of the business. Which then the reasonable

622
00:37:01.360 --> 00:37:06.039
salary is the amount that you're going to pay yourself

623
00:37:06.119 --> 00:37:09.960
via W two, and then the net income only gets

624
00:37:10.000 --> 00:37:15.599
taxed for federal and state income tax, not self employment tax.

625
00:37:15.840 --> 00:37:17.400
Self employment tax.

626
00:37:17.599 --> 00:37:21.440
Is based purely on your W two pay and is

627
00:37:21.480 --> 00:37:27.079
split between company and personal. Remember you're the company as

628
00:37:27.079 --> 00:37:30.360
well and the company owners. You're paying both halfs regardless.

629
00:37:30.519 --> 00:37:31.920
So what is preferred.

630
00:37:32.440 --> 00:37:34.880
Well, if you can manage being a multi member with

631
00:37:35.039 --> 00:37:38.440
maybe husband and wife, you can run it as a

632
00:37:38.519 --> 00:37:43.280
multi member partnership out there File ten sixty five. Never

633
00:37:43.320 --> 00:37:47.159
have to do pay roll unless you have employees. If

634
00:37:47.199 --> 00:37:50.400
you're looking for a company that's going to give you

635
00:37:50.440 --> 00:37:53.719
the ability to have the most deductions and give you

636
00:37:53.760 --> 00:37:57.199
the most benefits, you could manage to do it through

637
00:37:57.239 --> 00:38:00.280
a se court because you're going to have to be

638
00:38:00.360 --> 00:38:02.960
on payroll there and it can give you a lot

639
00:38:03.000 --> 00:38:06.880
of benefits more than any other company because the company's

640
00:38:06.920 --> 00:38:10.639
paying you like a Exon or one of the larger

641
00:38:10.679 --> 00:38:12.039
companies out there, SpaceX.

642
00:38:12.119 --> 00:38:14.159
Let's take for example, just went through their.

643
00:38:14.079 --> 00:38:19.159
I pou you know this last Friday, and you know,

644
00:38:19.199 --> 00:38:22.599
so paying a lot more benefits to you through the

645
00:38:22.639 --> 00:38:27.079
company that avoids tax but maybe gets your tax later.

646
00:38:27.239 --> 00:38:30.559
So things you've got to look at out there to do.

647
00:38:30.760 --> 00:38:33.079
So there's a lot of a lot of questions when

648
00:38:33.119 --> 00:38:34.880
you're doing this. And the first thing I tell you

649
00:38:34.920 --> 00:38:36.519
to do when you're getting out there to set up

650
00:38:36.559 --> 00:38:38.079
your company is call your tax guy.

651
00:38:38.440 --> 00:38:39.679
Talk to your tax.

652
00:38:39.440 --> 00:38:42.920
Guy or gala and find out what the implications are

653
00:38:43.079 --> 00:38:45.440
of the type of company that you're going to start.

654
00:38:45.880 --> 00:38:48.960
And I always tell you if you're dreaming, dream big.

655
00:38:49.320 --> 00:38:52.199
If you dream small, small, and you may achieve your dreams,

656
00:38:52.599 --> 00:38:56.559
but you didn't do anything really big with it. You know,

657
00:38:56.639 --> 00:39:00.559
we always set our goals, and we set three, five, ten,

658
00:39:00.840 --> 00:39:04.440
fifteen year goals. If you can accomplish those five year

659
00:39:04.480 --> 00:39:07.079
goals and three years or five year goals and two

660
00:39:07.159 --> 00:39:10.719
years or ten years goals and five years, you are

661
00:39:10.760 --> 00:39:15.719
striving and now your goals can become bigger, better, whatever

662
00:39:15.800 --> 00:39:19.119
it is. Don't just dream small, dream big. You know,

663
00:39:19.679 --> 00:39:22.039
doesn't cost that much to go and set up your

664
00:39:22.079 --> 00:39:25.400
corporation through your state. You know, if you do it yourself,

665
00:39:25.559 --> 00:39:28.679
state filing fees, maybe you know, two three hundred dollars.

666
00:39:28.960 --> 00:39:31.440
If you do it through your attorney, you may pay

667
00:39:31.559 --> 00:39:34.880
fifteen hundred to two thousand for your attorney, maybe more,

668
00:39:36.559 --> 00:39:38.440
but you get all the books and everything else you

669
00:39:38.480 --> 00:39:40.360
need to know. So you've got a professional on your

670
00:39:40.400 --> 00:39:41.559
side and somebody that's.

671
00:39:41.400 --> 00:39:42.440
There to help you.

672
00:39:42.519 --> 00:39:44.280
Yeah, the lawyers are going to continue to charge you

673
00:39:44.320 --> 00:39:48.960
hourly when you call, but that happens, you know, so

674
00:39:49.079 --> 00:39:51.320
you kind of got to look at those things and

675
00:39:51.760 --> 00:39:54.599
decide what's going to be best for you and best

676
00:39:54.639 --> 00:39:57.159
for your business and what's going to benefit you.

677
00:39:58.039 --> 00:39:59.360
Longer on the road.

678
00:39:59.679 --> 00:40:02.360
Hey, you've got a quick question that came in, and

679
00:40:02.440 --> 00:40:04.400
I know what's kind of off the topic of setting

680
00:40:04.480 --> 00:40:06.440
up your side hustle, but it kind of goes with it.

681
00:40:06.840 --> 00:40:08.519
You've set up your side.

682
00:40:08.280 --> 00:40:11.360
Hustle and you've met your goals and your dreams, and

683
00:40:11.519 --> 00:40:15.639
is now big enough to replace your income the job

684
00:40:15.679 --> 00:40:18.519
you work. You left your job and you had a

685
00:40:18.559 --> 00:40:21.480
four to oh one k, and you know whether you're

686
00:40:21.519 --> 00:40:23.400
going to a new company with a four to oh

687
00:40:23.440 --> 00:40:25.599
one k or you're going to go into your own

688
00:40:25.599 --> 00:40:28.880
business with the four to oh one K. You know,

689
00:40:29.000 --> 00:40:32.079
should you pull it out, should you transfer it? What's

690
00:40:32.159 --> 00:40:34.880
going to happen? And there's alreay of tax on this,

691
00:40:35.039 --> 00:40:37.079
So what's going to happen is this, If you pull

692
00:40:37.159 --> 00:40:39.679
the money out, if you just withdraw one hundred percent,

693
00:40:40.039 --> 00:40:42.239
take a distribution to yourself, you're going to pay a tax.

694
00:40:42.280 --> 00:40:44.320
If you're in less than fifty nine and a half,

695
00:40:44.360 --> 00:40:46.440
you're going to have the penalties of ten percent. You're

696
00:40:46.480 --> 00:40:48.760
going to pay the income tax on it. Add something

697
00:40:48.800 --> 00:40:51.599
I tell you, hey, you've started saving, don't do it.

698
00:40:51.800 --> 00:40:54.840
Roll it over to your traditional IRA or if you're

699
00:40:55.280 --> 00:40:56.880
if this is a four to oh one k roth,

700
00:40:56.920 --> 00:40:58.960
you can roll it over to your own personal wroth

701
00:40:59.599 --> 00:41:02.239
and keep the money in a retirement account.

702
00:41:02.519 --> 00:41:03.760
You're not going to have.

703
00:41:04.079 --> 00:41:06.760
The opportunity usually to roll it over to the new

704
00:41:06.800 --> 00:41:10.679
company that work for. However, depending on how you set

705
00:41:10.760 --> 00:41:14.639
up your business your side hustle, you might be able

706
00:41:14.639 --> 00:41:16.880
to roll it over into the four oh one K

707
00:41:17.199 --> 00:41:21.079
or SP or traditional plan you're using for the business.

708
00:41:21.639 --> 00:41:24.679
Talk to your retirement specialists that you're going to be

709
00:41:24.760 --> 00:41:27.400
using for your side hustle or your new company and

710
00:41:27.519 --> 00:41:31.599
get that clear if you're not able to transfer it

711
00:41:31.679 --> 00:41:36.480
into your existing or new IRA, transferred into the IRA

712
00:41:36.639 --> 00:41:39.719
that you have personally, or set up one through Fidelity

713
00:41:39.800 --> 00:41:42.639
or Swab or robin Hood or one of them that

714
00:41:43.599 --> 00:41:46.079
allows you to set up those retirement accounts and do

715
00:41:46.280 --> 00:41:49.679
a direct rollover to you. Don't roll to your account

716
00:41:49.840 --> 00:41:55.079
and then roll over to your IRA, because you could

717
00:41:55.079 --> 00:41:59.480
get you in trouble do a direct roll over. And

718
00:41:59.559 --> 00:42:02.440
so again, if you pull the money out, there's going

719
00:42:02.519 --> 00:42:06.519
to be that tax penalty and income. If you're over

720
00:42:06.559 --> 00:42:08.679
the fifty nine and a half, you get rid of

721
00:42:08.719 --> 00:42:10.840
the penalty, but then you're going to be still subject

722
00:42:10.880 --> 00:42:15.480
to income tax on that at whatever your marshal tax

723
00:42:15.559 --> 00:42:18.920
rate is, So it could get expensive. Well, time flies

724
00:42:18.920 --> 00:42:22.320
when we're having fun and we're talking about great subjects.

725
00:42:22.679 --> 00:42:24.280
Like I said, you know.

726
00:42:24.119 --> 00:42:26.880
Hey, you know next week we're going to talk about

727
00:42:27.320 --> 00:42:29.360
you know, what happens when you sell your business, sell

728
00:42:29.400 --> 00:42:32.119
your side hustles. Your business became big and now you

729
00:42:32.159 --> 00:42:34.119
can sell it and you're going to make money. How

730
00:42:34.119 --> 00:42:34.760
do you sell it?

731
00:42:34.800 --> 00:42:35.360
What do you do?

732
00:42:35.440 --> 00:42:38.719
What's the tax implications and all that you can avoid

733
00:42:38.760 --> 00:42:41.440
the taxes? What we're going to talk about that next week.

734
00:42:41.559 --> 00:42:42.800
Man, it's always great to be here.

735
00:42:42.880 --> 00:42:45.840
Don't ever miss an episode on W four CY Radio.

736
00:42:45.920 --> 00:42:46.119
Here.

737
00:42:47.039 --> 00:42:52.159
Tax talkfu dot com is here every Monday at ten

738
00:42:52.199 --> 00:42:55.039
am Eastern time. If I got to be here, you

739
00:42:55.119 --> 00:42:58.880
got to be so be here with us. Let us

740
00:42:58.880 --> 00:43:01.239
talk about your taxes. Ask your questions. We'll get an

741
00:43:01.239 --> 00:43:05.239
answer again. Join us next week ten am Eastern time,

742
00:43:05.679 --> 00:43:09.400
and uh, you know, be here to talk about that.

743
00:43:09.800 --> 00:43:12.159
If you do miss an episode, don't forget go to

744
00:43:12.239 --> 00:43:16.440
tax Talk the number four to letteru dot com. You

745
00:43:16.480 --> 00:43:19.559
can follow us over there catch all of our podcasts,

746
00:43:19.679 --> 00:43:24.199
or you can go to iHeart, Spotify, speaker, you name it.

747
00:43:24.239 --> 00:43:26.639
We're pretty much on it, so you can find our

748
00:43:27.239 --> 00:43:30.599
shows and podcasts over there. We're trying to do as

749
00:43:30.639 --> 00:43:33.000
good a job of getting them up as quick as possible,

750
00:43:33.400 --> 00:43:34.920
so don't ever miss an episode.

751
00:43:34.920 --> 00:43:37.599
But if you do, find us at tax Talk for.

752
00:43:37.800 --> 00:43:41.280
You dot com and again you can also go to

753
00:43:41.280 --> 00:43:44.079
Facebook and see us over there, as well as Trucker,

754
00:43:44.119 --> 00:43:48.719
tax tools dot com or even taxations Solutions dot net.

755
00:43:48.920 --> 00:43:51.079
We'll see you next week ten am Eastern time right

756
00:43:51.119 --> 00:43:54.199
here at W four CI Radio and tax Talk for

757
00:43:54.519 --> 00:43:57.400
You dot com. See next week, help God to lasting

758
00:43:57.519 --> 00:43:58.199
glorious work.

759
00:44:00.079 --> 00:44:03.199
Are you an individual or business that wants to understand

760
00:44:03.280 --> 00:44:06.639
taxes and how they affect you. Are you looking for

761
00:44:06.719 --> 00:44:12.119
specific tax advice for self employed business owners and truckers.

762
00:44:12.719 --> 00:44:16.760
Are you behind on taxes and your bookkeeping? Are you

763
00:44:16.880 --> 00:44:20.880
dealing with dirs and ready to have some relief, Then

764
00:44:20.960 --> 00:44:24.639
you need Tax Talk for You, hosted by tax and

765
00:44:24.719 --> 00:44:29.519
trucker expert Barry g. Fouer EA. Tune in ten am

766
00:44:29.679 --> 00:44:33.679
Eastern Time every Monday right here on W FOURCY Radio

767
00:44:33.760 --> 00:44:37.000
and Talk for TV. Don't forget to check this and

768
00:44:37.199 --> 00:44:41.760
past episodes at tax TALKFORU dot com. See you next

769
00:44:41.760 --> 00:44:46.400
week at W fourcy dot com