My $30,000 Lesson from the IRS
A few years back, I got a letter after filing my taxes from the IRS saying I owed $30,000. Ouch! The culprit? My lack of knowledge and resources when it came to sorting out my life as an independent contractor. I wasn’t organized, I didn’t have good resources that helped me form good habits, and I had been paying my quarterly taxes to the wrong account!
Navigating the Challenges of Tax Season
Picture this: working the flexible hours we love, choosing projects aligned with our passions, and then BAM! Tax season hits, and suddenly I’m in the midst of a back and forth with the IRS. Thank goodness I at least had good saving habits. I sorted out the mixed accounts and paid the remaining balance that was actually owed… this was after I panicked, of course.
But this game is all about turning setbacks into comebacks.
Embracing Financial Education
I dove headfirst into research on the internet, sought advice from mentors, and wrapped my head around the business structure, tax implications, and financial management that comes with the amazing life that working for myself has given me. It was a crash course that was both eye-opening and wallet-saving. I’m sharing some of that knowledge all month on our social media accounts.
Lokum App’s Mission to Support CRNAs
I’m not keeping all this knowledge to myself. Part of the mission of Lokum App is to help fellow CRNAs navigate the tricky waters of independent contracting. Through mentorship and sharing valuable resources, I’m paying it forward.
Because let’s face it, we’re a community that thrives on supporting one another. Tax season can become less of a nightmare and more of an opportunity for strategic financial planning.
You’re Not Alone
So, if you’ve ever felt the sting of tax troubles or the headache of financial stress, know this: You’re not alone, and there’s a way out. With the right knowledge and resources, you can turn those challenges into stepping stones toward an awesome, empowered life.
Embrace Financial Freedom
Here’s to conquering taxes, embracing financial freedom, and living the CRNA life on your own terms!
Download or Save Lokum App’s first Guide in this series: Everything you need to know about setting up your 1099 tax structure on one page