As I publish this podcast episode, the COVID-19 crisis is at a peak here in Canada and throughout the world. Wishing you all the best throughout this tough time – both for your businesses and for society as a whole.
A couple of years ago I published an episode with some tips for tax time. Since it’s that time of year again, let’s do an update!
In this episode, I discuss a few things to think about when it comes to doing your taxes as a healthcare or wellness professional: massage therapist, acupuncturist, nutritionist, yoga teacher, and other such careers.
Important note: As I’m sure you all know, I’m not a professional accountant! But I’m speaking from my years of self-employed business experience. If you have any questions about your own tax or financial situation, speak to an accountant in your area that understands self-employment tax law and finances. This episode is to give you some food for thought and direction.
The major topics we cover include:
- Are you properly designated? Are you truly being treated as a self-employed individual or are you working in a grey area that is more like an employee?
- Do you know how to keep good accounting records – regardless of whether you do your taxes yourself or have a professional do them?
- Are you doing projections of your income and have a handle on your finances day-to-day?
- Do you know all the various write-offs you can claim?
Listen in now via the player below, or just search for “Life Beyond The Massage Table” on your fave podcast app. You can find me on pretty well all of them!
Resources from this episode:
From Wandering Aimfully: Money and getting out of debt. Helpful info even if you aren’t in debt!
Also from Wandering Aimfully: Second article on money management
Full disclosure: Wandering Aimfully are my own business coaches, but I’m also part of their affiliate program. Links I share from their website contain my affiliate code. All this means is that if you should decide to join their coaching program, I get a small cut.