Subscribe on iTunes, SoundCloud, or Stitcher. Support Sound Design Live on Patreon. In this episode of the Sound Design Live podcast I speak with certified public accountant Rick Norris on creating a strategic plan for your business (which is something you need even before a business plan) and about what players you the small business owner should recruit for your team. He also answered these burning questions: What's the difference between a CPA and a bookkeeper? How do I … [Read more...]
Be Your Own Attorney: The Smart Business Guide For Freelancers
You may be an amazing sound engineer. You probably are, since you read Sound Design Live. ;) But: are you in line with the law? Are you handling your business in a professional manner, protecting yourself from loss and planning for the future? Are you sure? Reading Stephen Fishman's Working For Yourself is one of the best ways to make sure that you are. I've read this book twice and I use it as an ongoing resource. Fishman has talked to a lot of contractors like you and me, and he explains … [Read more...]
The Sound Engineer’s Pain-Free Guide To TurboTax
Are you a sound engineer? Do you hate taxes? As sound engineers, taxes can be really complicated. We often have multiple sources of income, business expenses, and lots of paperwork. I'm not an expert and I make mistakes every year. In fact, this year I accidentally submitted erroneous information, so now I'm waiting for my 2013 return to get kicked back to me so I can submit it again. Hooray. Don't do what I did. Use TurboTax to make the process easier on yourself. Follow these … [Read more...]
Save $500 On Your Taxes This Year
Are you leaving $500 on the table? You might be. In my recent interview with Stephen Fishman, I asked him about the most common tax deductions that independent contractors get wrong. He said, "One great deduction that people don't take or are afraid to take is the home office deduction, which if you are a renter can be worth a great deal because ordinarily you can't deduct your rent at all. If you live in an expensive area like the bay area, that can be a lot of money." So let's take a look … [Read more...]
10 Critical Tax Questions Answered For Sound Engineers
Subscribe on iTunes or SoundCloud. Being self-employed can be both a dream and a nightmare. In this episode of the Sound Design Live podcast I speak with Stephen Fishman, attorney and author of Working For Yourself: Law & Taxes for Independent Contractors, Freelancers & Consultants. We answer the following questions: What are the pros and cons of being a freelance sound engineer (independent contractor)? How do I choose a business structure (sole proprietorship, LLC)? How … [Read more...]