Tax Secrets for Real People, with Hannah Cole

1002. Taxes don’t have to be a source of shame or a "black box" of confusion. Whether you’re a lifelong artist, a side-hustler, or a traditional employee, understanding the tax code is the ultimate power move for your bank account.In this episode, Laura sits down with Hannah Cole, an Enrolled Agent, working artist, and founder of Sunlight Tax. Hannah specializes in bringing "tax literacy to the humans"—specifically those who feel like the "black sheep" of the business world. They dive into the mindset shifts needed to conquer financial fear and the tangible steps you can take to legally pay less to the IRS.What We Discuss: The Mindset Shift: Why money is "neutral" and how to stop letting "starving artist" stereotypes gatekeep your wealth. The Cost of Confusion: Why a lack of tax literacy costs the average American over $1,000 a year (and much more for entrepreneurs). Self-Employment 101: A breakdown of the 15.3% self-employment tax and why your "boss hat" and "employee hat" both owe a cut. "One Big Beautiful Bill" Updates: How new laws affecting overtime, tips, and the SALT deduction (increased to $40,000) change your 2025/2026 filings. The "Trump Account": What new parents need to know about the $1,000 government contribution for babies born in 2025 and beyond. Deduction Goldmines: From startup expenses you can claim retroactively to the VIN Decoder tool for car loan interest deductions. Tax Calm: Practical "Atomic Habits" to make bookkeeping feel like a peaceful ritual rather than a chore.Find Hannah at SunlightTax.com. Hosted on Acast. See acast.com/privacy for more information.