Amanda Kay on One Full Year of 1099: What She Got Wrong, What Changed Everything

A year ago, Amanda Kelly jumped into full 1099 independence with income goals, an S-corp, and many unknowns. Now she’s back.In this episode, Brett Fellows, CFP®, sits down with Amanda Kelly, CRNA, coach, and founder of The Mindful CRNA, to hear what happened once the theory met real life. They talk through the financial surprises that came with running an S-corp, why most CRNAs leave money on the table at tax time, how the independent market has shifted heading into 2026, and what Amanda learned from a 30-minute tax return walkthrough with Brett that changed how she thinks about her money entirely.They Cover:The honest financial case for going 1099 in your 40s or 50sWhy salary vs. distributions inside an S-corp matters more than most CRNAs realizeWhat CRNAs consistently get wrong with deductions and bookkeepingHow the 1099 market has shifted since 2024 and what to expect going forwardRunning a side coaching business, and when to spin up a second LLCThe tax return review that made her numbers finally make senseBaby Roths, HSAs, and what a "money machine" looks like in practiceThree financial moves she would tell every new CRNA to make first#CRNAs #1099CRNA #TaxPlanning #FinancialPlanning #MoneyRxKey Timestamps:(0:18) Return of guest Amanda Kay to review her first year of independent contracting (1:43) Simple bookkeeping and revenue tracking methods using basic apps (2:56) Psychological adjustments when transitioning away from W-2 employment (4:40) Spousal communication strategies for managing variable monthly income (6:50) Common first-year errors with S corp compliance and deductions (10:53) Tax efficiency benefits of prioritizing business distributions over salary (13:40) Proactive recordkeeping habits to easily track business expenses (15:56) Evaluating the financial case for switching to 1099 contracting (18:40) Choosing the right entity structures when managing multiple income streams (19:58) Projected overhead costs and platform fees for digital courses (27:13) Navigating anesthesia market shifts and establishing cancellation policies (30:04) Protecting income through continuous clinical skill diversificationFor more information and resources related to this episode, please visit the show notes.