Self Employed Professionals Tax Strategies with Atilio Calderon

In this episode, Bonnie Yam welcomes guest Atilio Kaldeman to explore the unique tax concerns and expense tracking challenges faced by the self-employed. The conversation begins with a discussion on distinguishing between employees and independent contractors, and the importance of quarterly tax reporting for contractors. Listeners gain insights into maximizing work-related tax deductions, including home office deduction rules and the use of health savings accounts. The episode delves into various business structure options and their tax implications, with an in-depth comparison of c corp versus s corp taxation. The importance of bookkeeping in business tax reporting is also highlighted. The episode concludes with contact information for further inquiries.

(0:00) Introduction to the podcast and guest Atilio Calderon
(1:36) Unique tax concerns and expense tracking for self-employed
(3:38) Employee vs independent contractor distinctions
(6:25) Quarterly tax reporting for contractors
(8:24) Maximizing work-related tax deductions
(12:04) Home office deduction rules
(20:28) Using health savings accounts for tax deductions
(22:04) Business structure options and tax implications
(29:59) In-depth look at c corp vs s corp taxation
(32:25) The role of bookkeeping in business tax reporting
(33:13) Episode conclusion and contact information