Episode description

Learn the easy way to prepare your taxes for online creators, affiliates and eCommerce entrepreneurs!  This video reveals my simple system to prepare my taxes as an internet entrepreneur that only takes a couple hours per year!

In this video I mention my "Do You Need an LLC to Start Making Money Online" video which you can watch here: www.youtube.com/watch?v=QOWUIz9kYK8&t=0s

First you'll learn the differences in tax requirements for entrepreneurs vs. employees.  This will help you understand what is required from you so you can hit all of the required deadlines.

Second, you'll learn my exact tax prep processes and you'll learn the tax software you can use to make this entire process of preparing your taxes easier every year.

Finally, you'll learn how to grow a small team of professionals who can help you manage your taxes every year that will save you countless hours of headaches compared to doing everything yourself.

Taxes isn't exactly a 'fun' topic but it is something that all online entrepreneurs need to deal with.  

So learn how to make your tax preparation easy in this video.

Here are the timestamps for chapters:

0:00 Intro to taxes for online businesses
0:22 The 3 keys to making your tax prep easy
0:56 Tax differences between employees vs. entrepreneurs
1:50 Tax forms you'll need as an online entrepreneur
2:16 Differences between ad revenue vs. affiliate income or selling products
3:06 Required tax payments for online entrepreneurs explained
3:48 Tax deductions for creators, affiliates & side hustles
4:44 How internet entrepreneurs pay fewer taxes than employees
5:59 These tricks will save you dozens of hours in tax prep each year
7:48 How to use cash back credit cards to earn money and help your tax prep
8:40 This one tool will save you hours of headaches each year
10:21 What documents do you need each year to file your taxes
10:45 Growing your tax team to maximize deductions and minimize time spent
13:30 How to find a great local CPA who understands home-based businesses
14:46 The keys to remember when preparing your taxes as an online entrepreneur