Welcome to 31 Days to an Organized Life & Business! For the month of October I will be a participant in The Nester’s 31 days Writing Challenge. Taking some of my own advice and taking you along on my journey to a life reset. I’ll be sharing (and practicing) some tips on everything from bookkeeping, shopping, managing kids, intentional parenting, work from home mom syndrome, work/life balance, spiritual reset and more. Not because I am the expert in these fields, but because they have worked for me in the past, and I so badly need them to work again for me now.
When I say I need this reset I’m not even kidding. When I say I’ll be writing about it, I don’t mean, I’m going to talk about past advice or something that worked once for me 3 years ago. I mean I’m going to hit publish on this blog post, and then go and do what I am writing about today. That is all I can commit to for today. Which means, if you can relate to any of this, I invite you along on this 31 day journey. Watch me triumph or fail, but I’ll be here daily to give you updates. I’d love if you joined me, and keep me posted on your progress as well. There’s hope and support in community here.
If you missed Day 1, or would like to catch up on any other day, click the link on the right hand side or right here.
Be sure to also follow along on Instagram as I post updates throughout the day. #31daystoreset @Angelsea Urban
Thanks for visiting!
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Taxes. I know. It’s like a swear word nobody likes to talk about. I get it. I teach taxes to business owners and I prepare taxes for families and businesses. It’s not pretty. BUT, we live in America and like it or not it’s part of our existence.
Maybe last tax season you swore it would be different. Maybe you were relieved you just dodged a bullet and happily spending your refund on a much needed warm vacation, or maybe you were left spinning in confusion on what just happened and WHY the heck you owe so much money?
Don’t like the feeling of dreading tax season because you have NO IDEA on what is going to happen?
Here are 3 things to implement right now to be better prepared for next seasons’s tax return:
1. Get a Mileage Log
This may seem obvious, but as a photographer you are likely driving EVERYWHERE for business. Without a spreadsheet, log or app, this can make next tax season a nightmare compiling receipts – or worse – you are guessing on how much you think it is. This is a TOP RED FLAG for the IRS when picking apart your tax return. WHY? Because it gives you a LOT of money back in your pocket. It’s not too late to recreate and retrace your steps from January until now and implement an organized system for this year. Don’t wait until April 10th or your accountant may rush through your tax return quickly, and you’ll end up owing more than necessary because they didn’t have time to think about ways they could be saving you money on your return. Just like being kind to your waiter gets you fresh food, being kind to your tax preparer gets you more thorough service. Sadly. it happens all the time. They have to rush when necessary when people wait until the last minute and YES, that does affect the level of service you are able to receive.
Here are some links to tools you may want to consider: Mileage Log or Mileage App
2. Consult a Financial Advisor or Business Manager.
If you paid a wallop this year and are angry at your tax preparer for not warning you, don’t be. Tax preparers are paid to prepare the package of data you submit to them at the end of the year. That’s it. If you consider them your Financial Advisor and are expecting them to give you extraordinary business advice throughout the year, and they don’t, please don’t be disappointed. They are there throughout the year to answer questions pertaining to your tax return. If you would like advice on ways to increase revenue, or reduce costs, or tax liability, that role falls under a Financial Manager or Advisor, not a tax preparer. A good tax preparer will give you advice pertaining to your taxes. A great one will give you advice on your business operations, and a rare gem will give you tips and tricks on how to reduce liability and increase revenue. (Although this person would be grossly underpaid for this service as a “tax preparer” and likely move on to be an Advisor or Business Manager). Consult an Advisor or Business Manager if you would like to be more prepared in the financial operations and planning of your business.
3. Set up a SEP IRA Account
Yes, your spouse might have a great 401k program and that is wonderful. Continue to do that. But if you find yourself owing Uncle Sam thousands of dollars at the end of the year, better to stick some of that money back in your own pocket for retirement, then fork it over to the government as a straight tax payment you’ll never see again. You can do this through a Financial Advisor, Stock Manager or on your own through sites like Fidelity. It will save you THOUSANDS.
You still have time to get organized for this year! It’s not too late at all! Your business will thank you for it!
Thanks for visiting today!
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Be sure to check the blog every day during the Month of October for new content. Or sign up for the VIP Newsletter for important updates.
East Coast Fine Art Lifestyle Family Portrait Photographer Angelsea Urban
Angelsea Urban is a photographer and entrepreneur helping women use their creative gifts to nourish their homes and cultivate their businesses through practical stewardship. Her unique photography work focuses on Redefining the Family Portrait Experience by telling the story of family through personalized foundations while creating a space to strengthen family bonds throughout the experience. As a certified tax professional and seasoned business consultant, Angelsea has helped the careers of photographers, restaurateurs, musicians and general small business owners through teaching, workshops, coaching, and hands on consulting. Her ministry work focuses on fostering creative gifts in women entrepreneurs to prioritize family and discipleship. She has photographed for families, brides, Bravo TV, NFL Films, and more and has been featured on multiple blogs and magazine print for her work in photography and in business. Angelsea teaches and photographs throughout the United States, and resides with her husband of 17 years, their two children, and their barely 3 pound Yorkie near Long Beach Island, New Jersey.
To book your session with Angelsea Urban, please visit www.angelseaurban.com
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