Want to pay less in taxes and stay fully legal? Start thinking proactively, not reactively. For example, you can hire your children (yep, really!) and pay them up to $12,000 tax-free per year—it's a legitimate way to shift income and lower your overall tax burden.*
*For educational purposes only. Always consult a tax expert before using any strategy.
No time to listen? Read the summary: The Ultimate Solopreneur Checklist for Bookkeeping and Taxes with Melissa and Eric Broughton
Here are the top takeaways to help you save money, stay organized, and feel more confident come tax time:
Separate Your Finances: Open a dedicated business checking and savings account. It’s a simple move that makes bookkeeping (and tax filing!) much easier.
Track Every Expense: Use QuickBooks (great for product-based businesses) or a spreadsheet (perfect for new service-based solopreneurs). Busy Bee even offers a free spreadsheet—just ask!
Don't Overlook Mileage: Many solopreneurs forget this one. It adds up fast and is totally deductible. Use an app or even your calendar to track it.
Ask Smart Questions When Hiring a Tax Pro: Not all tax preparers are created equal. Ask about:
How to separate business/personal expenses
What qualifies as a deduction
Whether they offer tax planning, not just tax filing
Know Your Entity Type
LLC = legal protection.
S Corp = potential big savings on self-employment taxes. Talk to a pro about when it’s time to make the switch.
Leverage the 14-Day Rental Rule (aka Augusta Rule): Yes, your business can rent your home (for meetings or events) for up to 14 days a year—and pay you tax-free. Just document it properly and don’t exceed the limit!
DIY vs. Pro Help: You can DIY your taxes—but hiring a professional might save you thousands (and a lot of stress). As soon as you can afford it, bring in an expert.
Listen or Watch:
The Solopreneur's Money Manifesto
What is it? It's a book by Gabe Nelson, a solopreneur and Certified Financial Planner
Why do I like it? As a solopreneur, it’s easy to feel unsettled even when the money’s coming in. Whether you're looking to grow or just live life on your terms, The Solopreneur’s Money Manifesto by CFP® Gabe Nelson offers a clear path to financial peace of mind.
Through real client stories and a hands-on case study, Gabe walks you through the steps to align your business and personal finances so you can build the life you really want.
What is it? Astrid is a French crime drama that brings together two compelling characters: Astrid Nielsen, an autistic archivist with an exceptional memory, and Raphaëlle Coste, a spontaneous police commander. Together, they tackle intricate investigations in and around Paris, blending meticulous research with instinctive police work.
Why do I like it? If you’re into detective shows but tired of the same old formula, Astrid is a standout. It’s a French crime series that teams up Astrid, an autistic archivist with a mind like a steel trap, and Raphaëlle, a police commander who works more on gut instinct. On paper, they couldn’t be more different, but that’s what makes it great. Their dynamic is all about how two totally different ways of thinking can actually make for the perfect team. Astrid is portrayed by Sara Mortensen, and she nails it—smart, nuanced, and deeply respectful of what it means to be neurodivergent. The cases are clever, the characters are layered, and the show gives you both the puzzle-solving fun and real emotional connection. Worth a watch for sure, as long as you're OK with subtitles.
Where can I see it? It's on PBS Masterpiece
Take your solo business to the next level - for free!
Unlock the power of simplicity with Lifestarr Intro! With essential insights, exclusive events, and a supportive community, managing your one-person business has never been easier. Whether you're just starting or seeking ways to streamline your operations, LifeStarr Intro is here to help you focus on what matters most. Take this chance to elevate your success—join today and see how LifeStarr Intro can transform your solopreneur journey!
