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Episode 099: How Income Taxes Actually Work with Braden Drake

March 1, 2022

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Tax season is upon us, and it's overwhelming. Which is why Braden Drake joined me to share how income taxes actually work for entrepreneurs.

Income Taxes for Entrepreneurs

Tax season is upon us, and I know that as business owners, things feel a bit more on edge than they did when we had w-2s. Income, revenue, expenses, profit, adjustments, itemized deductions, taxable income … there’s a lot to understand, and the IRS does not make it easy.

Luckily, today I’m joined by Braden Drake – a California licensed attorney and tax professional. His tagline is your gay best friend here to help you get your legal, tax, and financial shit legit. Braden works primarily with service-based, creative small business owners through his signature program Profit Rx and today he’s here to help you get ready for tax season by explaining how income taxes actually work.


Links and Resources Mentioned in This Episode:


Tax season is upon us, and it's overwhelming. Which is why Braden Drake joined me to share how income taxes actually work for entrepreneurs.

Braden is a California licensed attorney and tax professional. His tagline is your gay best friend here to help you get your legal, tax, and financial shit legit. Braden works primarily with service-based, creative small business owners through his signature program Profit Rx.

Braden’s Website

Braden’s Facebook Group

Braden’s Instagram


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Rather Read? – Here’s the Transcript!

*Just a heads up – the provided transcript is likely to not be 100% accurate.

Amanda: Tax season is upon us. And I know that as business owners, things feel a bit more on edge than they maybe did when we had W2’s income revenue, expenses, profit adjustments, itemized deductions, taxable income. There’s a lot to understand, and the IRS does not make it easy. Luckily, today I’m joined by Brandon Drake, a California licensed attorney in tax professional.

Amanda: His tagline is your gay best friend here to help you get your legal tax and financial shit legit. Brayden works primarily with service-based creative, small business owners through his signature program, Profit RX. And today he’s here to help you get ready for tax season by explaining how income taxes actually work.

Amanda: You’re listening to episode 99 of the Chasing Simple Podcast. And I’m your host, Amanda Warfield. Let’s dive in.

Amanda: Braden, I am so excited to have you on, can you go ahead and just Introduce yourself a little bit until everyone who you are, what you do, who you. 

Braden: Sure. So, hi everyone. We’re really excited to be here. My name is Braden Drake and I am a California licensed attorney. I live in San Diego. If you’re not familiar with our geography, that’s about it.

Braden: Literally borders, Tijuana, Mexico. So all the way Southern California. And I also have a master’s degree in tax law. So what I talk about if it confuses people at first, when they first meet me, a lot of people mistake me for a CPA. I’m not a CPA, I’m technically a tax attorney, but I will do, I do both legal education, tax education.

Braden: And now also like money management and cashflow education for creative, small businesses. 

Amanda: Yeah. And that’s actually how we met through your interest in profit first. And I was on an episode of your podcast gosh, two years ago. 

Braden: Yeah. You were on, I think that was like one of my first 10 episodes and I just recorded this morning.

Braden: I think I recorded 2 0 8 and 2 0 9. 

Amanda: Wow. That’s really crazy. Congratulations. That’s huge. Thank you. But yeah, profit first. That’s how we got connected. I know you guys have heard me talk about it in the past. And today we’re going to talk about something kind of similar ish. We’re going to about income taxes and Brayden.

Amanda: I know that as this releases. I personally am going to be in an all time anxiety high with taxes. And I think most of my listeners will too, just because it’s a stressful season, especially for those of us that don’t have a CPA and that are doing our own taxes ourselves. So what would you say the basics are that we need to know about income taxes as we’re starting to move 

Amanda: into that season?

Braden: Yeah. So a few things first, you have to understand the difference between the different types of taxes, right? So income tax is not, it’s not sales tax, right? I think most of us, we kind of understand that, but then when we get, we get confused when it comes to paying quarterly sales taxes versus quarterly income taxes.

Braden: So two different things. We also need to understand how our business income is taxed. So what’s the difference between business income and personal income. And why does that matter? Why do we care? And then we need to think about, well, how do we actually come up with our taxable income? Like, how do we calculate our tax?

Braden: How’s the IRS coming up with that number and how to business deductions play into all that. So we can go through all that stuff, like one by one, but that’s kind of our broad overview. 

Amanda: Yeah. Okay. So I guess let’s start with the first one with the sales taxes versus income taxes. What does that even mean?

Amanda: Cause I don’t know. 

Braden: Sure. So sales tax is a consumption tax, right? So if we go shopping, what, remind me what state you’re in 

Amanda: South Carolina, 

Braden: but in South Carolina, they do have sales tax. Okay. So there are only a handful of states that don’t have sales tax. So you go shopping, let’s say you go to the mall, you buy some new clothes, you’re going to pay sales tax on that.

Braden: Correct. Like I give this story. I wrote it in, I think one of my course textbooks about how, and I have no idea how young I was, but I remember we were on vacation and I think we were in West Virginia, visiting a friend, and we went to one of those. on a cave tour. You know what I’m talking about?

Braden: Have you ever done one of those?

Amanda: I’ve never done one, but I know what you’re talking about. 

Braden: Yeah, we went on a cave tour and they had a gift shop. And I think I had, I don’t know, I think I had like a $2, two or $3. This is the early nineties. I’m an elder millennial at this point, I think. And I had a couple of dollars to spend and I did the math, you know, I did my $2 a month and the thing that I wanted to buy came right up to $2.

Braden: And of course the final total was like $2 and 12 cents. And I was utterly bewildered because my parents are not the type to give me the 12 cents.. Like I gotta, I gotta reanalyze my life. And that’s when I learned about sales. So we all understand that, we only really have to deal with sales taxes, business owners, and most states, and most states if we’re selling physical goods.

Braden: So if we have a product based business, income tax is based on our tax bracket and how much money we make. So if we’re an employee, for example, all the taxes that are coming out of our paycheck, those are all income taxes, income taxes are due for all of us to have a business that’s separate. And apart from sales tax.

Braden: For the rest of the episode, we’re not talking about sales tax. That could be like a whole different thing. We’re only talking about income tax. 

Amanda: Okay, great. So we know what income tax is. Can you explain a little bit about what it is that we are having to make sure that we’re paying as far as like quarterly taxes and then at the end of the year, how that works and how like what in the world does that have to do with income tax?

Braden: Yes. So first I think it’s helpful if we first. Kind of like, try to define like what business income is in the first place. Right? So if we have a part-time job. So for example, when I was studying for the bar exam, I worked at West Elm and spent all of my income on extensive furniture, but I was an employee there.

Braden: Right. So I got employment income, and that’s we call this it’s a sub category of what we call earned income, which means that you’re being. Compensated for your labor, right? You’re earning it. And all earned income is subject to income taxes, federal income taxes, as well as Medicare taxes and social security taxes.

Braden: Right. We all pay that when we’re employees and those Medicare and social security taxes, we collectively, when we’re employed, we call them FICA taxes. We’re self-employed we just call them self-employment taxes. So. The importance of understanding the difference between business income and non-business income as our business income is subject to those extra taxes.

Braden: Whereas if you went, if you went and like, if you went gambling and you made a bunch of money, you would pay a gambling tax on that actually it’s a type of income tax, but you wouldn’t pay self-employment tax, right. Because it’s not earned income. Same thing. If you, like sold some stuff on Facebook marketplace or.

Braden: I’m trying to come up with other good examples of you like sold your car, or if you had a rental income from a rental property, or if you sold a cryptocurrency that’s investment income. So that’s the difference. So we want to think about what’s business income and for most of us that’s pretty self-explanatory, whatever our business is, if we’re making money, that’s our business income.

Braden: So we feel good about that? 

Amanda: By income. Do you mean profit or revenue? 

Braden: Good question by income. I just mean revenue, right? So profits a whole different ball game. 

Amanda: Okay. So we’ve got our revenue. How do we go about taking that and knowing what to do with that number? With our taxes? 

Braden: Yes. So this is a great segue because we got to figure out what our profits, we got to figure out what our profit is.

Braden: Right? we only pay taxes on our profit really. That’s where all of our business deductions come in. So we’re going to figure out our business income. We’re going to look at all of our deductions. We’re going to account for that in our bookkeeping.

Braden: And then we’re going to deduct. Like deductions literally mean you deduct it. Right? So if I made a hundred thousand dollars and I had $20,000 in business deductions, now I have $80,000 in net income. We call it net income or profit. Those are generally interchangeable terms. And that’s what our income is subject to tax on.

Braden: Now, I feel like your question was like, what do we do? After that is that where we’re headed? 

Amanda: I think so, but I also would love for you to clarify what the difference between business expenses and business deductions. Are. 

Braden: Oh, this is the same thing, 

Amanda: same thing. 

Braden: it’s a little, it’s pretty much the same thing.

Braden: technically speaking, you could have an expense, that’s not tax deductible in which case that wouldn’t be a deduction. but in small business in particular, pretty much anything we’re going to consider a business expense is going to be deductible. once you got like a really like a multimillion dollar company, like they’re going to have.

Braden: They’ll do their accounting a little bit different, for purposes of figuring out like what their profitability is versus what their tax profitability is, what they’re subject to tax on. But for us, we don’t, we don’t have to worry about that. You haven’t an, asana account it’s tax deduction. You hire someone to take your brand photos, it’s tax deduction.

Braden: Those are all business expenses slash tax deductions. 

Amanda: Interesting. I did not realize that. I definitely thought they were two different things. That’s good to know. Okay. So we’ve got revenue. Profit expenses deductions, what do we do next?

Braden: Okay. So I’m going to walk you through like how the IRS actually calculates our taxes.

Braden: It’s a, it’s a bold promise, but we’re gonna like very 10,000 foot view. Okay. So we have our business profit and then what the IRS wants to know is they want to know what our total household income is. Right? So like, we’ll use you as an example, is your spouse self-employed or employed or; no he’s employed. Okay, so he’s employed same with my husband.

Braden: So my husband’s employed. So for both of us, our total household income is going to be our business profit plus our spouse’s employment income. Okay. If we also did. so I was saying the other day on Instagram, I’ve always wanted to become a spin instructor. And I always say that I’m going to do that. if I did that, that would be a part-time job.

Braden: So that would get lumped into my household income as well. Plus all the other types of income we talked about earlier. So you come up with that and that’s your total household income. Okay. If you’re, not married, I would say not married because single for tax purposes just means that you’re not married and you’re not filing married joint or married separate.

Braden: If you’re not married, then it’s just all of your income. If you are married, it’s communal everything’s lumped together. So that is step number one.. I’m pausing in case you have any questions. I 

Amanda: think I’ve got it. We’ve got household income total.

Braden: Okay, good. Sometimes I just have to pause from time to time. Otherwise it’s just like, I feel like me ranting for ever.

Braden: So we have our household income and then we’re going to take the IRS, gives us something called a standard deduction. are you familiar with that? 

Amanda: Yes, I am. But explain it for everyone listening just in case. 

Braden: Yeah. So standard reduction is, I mean, it’s a, it’s a personal deduction, right? So we understand why business deductions are.

Braden: We also have personal deductions and, the IRS allows, and it might’ve changed a little bit for inflation, but I’ll just use my. Most recent recollection, it was $12,200. If you’re single and $24,400, if you’re married. So double, we also have a tax status called a head of household. And that is if you file a single so you’re unmarried, but you have dependents.

Braden: So typically that’s children, but you can also have, like elderly dependents. There are some other, specialty rules as well. And their standard deduction is 18,000. So you take your household income, which again was business profit plus other income, and you deduct your standard deduction. So, and this gives you, and we’re going to add, we’re going to add some twists to this in a second, but this basically gives you your taxable income on which calculate your taxes.

Braden: So I’m going to, I’m going to quiz you now. 

Amanda: Okay. 

Braden: This is what we’re going to tell. I’m also a podcast host, cause sometimes the guest on a podcast. 

Amanda: I’m here for it 

Braden: If you’re married, household income was $24,000 and your standard deduction is $24,400. What would your taxable income be? 

Amanda: I’m assuming they’re not going to let 

Amanda: you go negative, right?

Braden: Yeah, it would technically would be new, but we could also just say like zero, but the answer I’m looking for. Like you don’t have taxable income because your standard deduction is greater than your income. So this is why, and we’ll talk about quarterly taxes later, but unless you’re, until you’re making a certain amount of money, we don’t have to worry about it cause you get your standard deduction.

Braden: So that’s how that one. We also have this pesky category called itemized deductions. All right. So itemized deductions, the big ones are out of pocket medical expenses. charitable contributions are the most common one that like everyone uses and then mortgage interest deduction is the other big one.

Braden: there are a couple of few other itemized deductions, but those tend to be the big three. And the way our tax system works is you either get. Standard deduction or an itemized deduction. When you file your taxes, you don’t get to take both. So we would only want to itemize that’s where we get the term itemized.

Braden: So we only want to itemize if our itemized deductions are greater than our standard deduction. Which also makes sense back, pre 2017, the standard deductions are, were half as much as they are now. So it was a lot more common for people to itemize. Now, since they’ve doubled. It’s a lot, fewer people have enough itemized deductions to go over the standard deduction.

Braden: And it’s funny because, well, okay. I’ll, I’ll ask you another quick question. Let’s say your only itemized deduction is like a $500 donation to your favorite charitable organization. Are they going to itemize or are you going to take, 

Amanda: take the standard? 

Braden: Okay. So does that a charitable contribution? Save you any taxes?

Amanda: No. 

Braden: No. Would you still make the charitable contribution? 

Amanda: I mean I would.Yeah. 

Braden: I mean, like, it depends, right. It depends on the organization. So a lot of people, like they got kind of mad about it, cause they’re like, well now I don’t get a tax benefit, provide deduction. And it’s like, no, Let’s say before your standard was 12,000 and your itemized was 15.

Braden: Now your standards 24, you’d still take the $24,000 standard deduction.

Amanda: You’re still winning. 

Braden: Right? You’re still, you’re still winning. So I was argued that really the. The main kind of victims of this law are the charitable organizations. But, now you and all of your listeners are a part of the very small percentage of people who actually understand how that works.

Braden: So I don’t think that charitable organizations have to worry, plus we’re still always altruistic. So those are those things. So you’re going to deduct either one of those and you can also deduct, things called adjustments and without over-complicating things, adjustments are just like your itemized deductions, except you get them, regardless of whether you itemize.

Braden: So, one of those, the biggest one for most of us is student loan interest. So, if you paid a thousand dollars during the year in student loan interest, you can get a deduct that regardless of whether you take a standard deduction or an itemized deduction, out of pocket teacher expenses. So if you’re a school teacher and you go buy school supplies out of pocket, that’s another adjustment as well.

Braden: Okay. That was a lot 

Amanda: I think I’m following you. Yeah. And for anyone, let me just pause right here. Anyone who’s listening in, you’re feeling confused. Go back and relisten, but also Braden has literally written a book on this that I highly recommend. I am literally holding it in my hands right now.

Amanda: We’ll link to that in the show notes. But when I read this book, I was. Amazed at how simple he made all of the tax stuff, because I was so confused previously and I do our taxes every year, pop things into TurboTax. Didn’t know why any of it came out the way it did, but this book really helped me to understand so relisten, but also we’ll link to the book in the show notes because it makes it very 

Amanda: simple.

Braden: Good. Thank you for it. Well, thank you for sharing. I’m glad that you liked it. I’m like I’m a big believer. So personally,

Braden: I need the broad picture before I can learn. Like the nuanced details. So I think a lot of people wonder, like why I go through the effort of explaining how, like, how these taxes actually work. But I think it’s so much more helpful because then when you’re doing your own tax return, you’re like, oh, I know what this is.

Braden: Like, I might not know all the nuances and the nitty-gritty details, but I understand the gist, which I think is great., 

Amanda: it’s, it’s super helpful to have that broad view of this is how it works. Even if I don’t understand all the tax code I kind of, as I’m being guided through, I understand why I’m answering the questions that I’m answering at least.

Braden: Yeah. Yeah. Super important. Okay. So we get our, remember we have business profit plus all of our other income minus our adjustments and our standard or itemized deduction. This is how we get to our taxable income. And our taxable income is the income on which we calculate. Our taxes are on which the IRS calculates our taxes.

Braden: So if we let’s say we had, like, we have $50,000 in business profit, and let’s say our spouse makes $50,000. So we have household. income of a hundred thousand and then we take our standard deduction. I’ll just say that it’s 25,000 for easier math. So now we’re down to 75,000 and then we have a thousand dollars in adjustments.

Braden: So now we have $74,000 in taxable income. So when we look at the tax bracket, we’re going to look at the tax brackets first $74,000 in income, not for a hundred thousand. And that’s how our taxes calculator. So they do the math. You know, all that good stuff. We got our income tax on that amount. And then we add to that our self-employment tax, which is based purely on our business profit it’s 15.3% of business profit.

Braden: We add those two taxes together, and that is like the big picture view of how we find our federal taxes.

Amanda: Oh. Okay. So we’ve got, got our federal taxes. how do quarterly estimates play into that?

Braden: Oh, this is, so this is my quarterly taxes. Are there like a whole hot mess? The way the IRS actually wants us to pay our quarterly taxes is they want us to estimate how much we’re going to owe in tax during the year.

Braden: So it’s forward-looking and then you divide that amount by four, and that’s how you pay your quarterly taxes. But this begs a lot of questions. Like how the hell do I know how much money I’m going to make next year? We have to do projections, right? We do have safe harbors. So that’s what most people will use to pay their quarterly taxes.

Braden: Yeah. It’s like a frustrating experience for us all. 

Amanda: Yes. It’s definitely the, especially right now, I sent in a check in September. They never cashed, because they’re so behind. So that’s fun. Yeah. Oh yeah. 

Braden: Don’t send checks, just pay it online. Just pay it online. 

Amanda: I tried, it was a hole. That was the whole thing.

Amanda: the whole, that would be a rabbit trail, 

Braden: but so I can tell you, I can share with you that kind of the behind the scenes of how I have all my students save their taxes.

Amanda: Yes. 

Braden: Okay. So what we do is, again, this is why I teach how income taxes work, because I have all of my students in my membership, profit RX, I have them complete a quarterly tax calculator, and it’s a Google sheet and it takes them with formulas through that whole process we just went through.

Braden: And what we do is we figure out what percentage of your household income ends up going towards taxes. So if you make a hundred thousand dollars and you ended up paying $17,000 in taxes, 17% of all your income is going to our taxes. So that’s your tax percentage. We calculate that. And then that’s your savings percentage.

Braden: So every dollar you bring in business income, we’re going to set aside 17% of it. Again, this is just, I’m making up these numbers as an example. And we automate that. So I use a phone tool. It’s an app called Qapital. Any of you can go download it Q a P I T a L. And it’s really meant for personal savings.

Braden: If you want to, you know, like save $10 every week for your trip to Disney world or whatever, that’s what it’s meant for, but we link it to the business bank account and we set up, they call it their freelance rule where you can link it to your bank account. And every time you get a deposit, it’s going to set aside a designated percentage.

Braden: So automate your savings. A bank actually owns the app, so it comes with a routing number and account number. And then we pay our quarterly taxes directly from that savings app. So it applies like the true out of sight out of sight, out of mind, concept to taxes. And if you’re familiar with profit first, it’s a similar kind of system, but we’re like automating it and making them a lot easier rather than like going to open an additional bank account.

Amanda: I love that. That’s a great tip. Thank you. So going back to, we’ve got the 15.3% of business profit plus whatever taxable percentages from the income bracket. I feel like I just said that in a very confusing way, we’ve got those to the 15.3% of business profit. Is that typically. What we should have been paying, our quarterly estimates towards.

Braden: No, no, no. And it depends. This is where people get very tripped up. We’ve got to be very clear on gross versus net. Right? So revenue versus profit. So when I talk about tax savings, I’m always talking about saving off your gross. So before we’re considering your expenses, right? So it’s a 15.3% tax on your net or on your profit, but let’s say you’re only operating at 50%.

Braden: Profitability. So you make a hundred thousand dollars. You only have 50% of profit. You owe 15.3% of $50,000, which is I can’t do that math right now. It would be no, that would be like around seven, $7,000 in change. Right? So that’s your self-employment tax. It’s not 15.3% of a hundred thousand dollars.

Braden: It’s 15.3% of $50,000. So, but I’m going to have you save whatever your percentage is on a hundred thousand. So that our question is if you owe $7,000 in self-employment tax 7,000 of a hundred thousand. Is 7% and change. So you’d be setting aside around 7% for self-employment tax, you know, maybe around, I don’t know, anywhere from 10 to 15% for, income taxes.

Braden: So you’re looking at like 17 to 22% savings. Okay. Under that hypothetical.

Amanda: So quarterly taxes and self-employment taxes are two totally different things. Quarterly estimates. Sorry. 

Braden: No. 

Amanda: Am I confusing everybody? Sorry guys. 

Braden: Yeah, no, no, no, but it’s a good question. Right? So quarterly taxes are not a type of tax, right?

Braden: So we pay income tax and we pay self-employment tax. That’s what we owe. When we talk about quarterly taxes, what you’re doing is you’re making a prepayment for your tax balance and what we do. Yeah, go ahead. 

Amanda: So the prepayment towards the self-employment tax plus the income. Okay. Okay. 

Braden: Yeah. So when you file your taxes, you’re going to get your total tax due.

Braden: And ideally you’ve already paid that tax and quarterly estimated taxes. And so we teach, I teach self employment and income tax separately. So you understand they’re two separate taxes. We’re going to save for them jointly,

Braden: and we’re going to pay our taxes. We don’t differentiate between the two. Like they don’t care at that point. 

Amanda: Gotcha. Okay. So I’m going to reiterate this one more time, just to make sure that I have this correctly and I haven’t confused everyone. So you’ve taught us how to find what our taxable income is.

Amanda: We’ve got what our income tax is. We also take what our self-employment tax is throughout the year, the quarterly estimates we have paid go towards that. Ideally, we want to own nothing and gain nothing back, but sometimes you can on either side. Correct? 

Braden: Yes. 

Amanda: Perfect. 

Amanda: Okay. 

Amanda: Now I feel like I’ve gone down a rabbit hole.

Braden: You nailed it. 

Amanda: So we’ve got. What that amount is. I mean, that’s essentially it, right. Am I missing anything? Are there any other basics that we need to know about our income taxes? 

Braden: So those are the, jist when it comes to like how income taxes actually work, like we’ve covered the main bullet points, right? That if we want to like, kinda really hammer home, this idea of quarterly taxes, the idea is let’s say we are single and all of our income comes from self-employment.

Braden: The IRS is only getting income. They’re only getting taxes from us if we pay our estimated taxes. Right. Versus let’s say similarly, we’re single and we only are employed. We’re not. Self-employed. Our employers withholding all of our taxes and sending it to the IRS through our paychecks, right. When we’re married.

Braden: And we have a spouse with a job with the balloons that we don’t have with holdings. That’s where it’s like kind of wacky because half of the taxes are being withheld. Half of them are not. So in short, what people need to realize is that quarterly taxes or estimate the taxes are due any time, pretty much any time we have a.

Braden: Taxes that are not being withheld from somewhere. So if you have, so a couple of weeks ago, I talked to someone who had a really large inheritance. They got a lump sum inheritance after a family member passed away and they asked me, do I need to make a tax payment? And I said, not my area of expertise, but probably right, because you got a windfall of cash instead of waiting nine months from now, you’re probably going to need to make an estimated tax payment now because the IRS is just like us business owners.

Braden: Like we don’t like to get paid months in the future. for income that we should have coming in now they want their money right away. But the IRS is not going to require us to pay them taxes on a daily or weekly basis. That’s a little too much. So quarterly is like their sweet spot, I guess. 

Amanda: Gotcha. Okay.

Amanda: That makes so much sense. So now everyone has pretty good idea whether they listen to this once or a couple of times a pretty good idea of what. Income tax is actually consist of and what exactly it is that we’re paying towards and where those numbers come from. What action step would you give everyone this week to help prepare for sitting down and actually dealing with their income taxes 

Amanda: this year?

Braden: Yeah. So a couple of different things if we’re talking about. So this is coming out in March, taxes are due by April 15, and we’re talking about that. Which really was your question. You just need to get organized. you need to get your bookkeeping wrapped up for the previous year.

Braden: If we’re talking about 2022 taxes, the consequences of which won’t results until our tax return next year, that I would say your first step is to start saving your taxes. If you haven’t already done that. because we don’t want to be stuck with the tax bill. 

Amanda: Awesome. Love that. great tip for both ends of the spectrum.

Amanda: And we always wrap up an episode by sharing a book recommendation, obviously. You have written a book, and you can either share more about that or about another book that you have just really love where their business or just for fun either way works. 

Braden: Yeah. So unfuck your biz of course go grab a copy.

Braden: other book recommendations that I had. It’s funny. I haven’t like I went on a bit of a book hiatus. I kind of lost. Like at the beginning of last year, but a few of my favorites. I love Denise Duffield Thomas, if anyone’s familiar with her. her book that I really, really liked was called Get Rich, Lucky Bitch.

Braden: Apparently swear words are a theme for me. she also has a newer book called chill prenuer, which is great. And if you love Denise actually interviewed her on my podcast. So everyone can go tune in really fun. So those are both good ones. other books, I Will Teach You To Be Rich is a great one.

Braden: Since we’re on the topic of finance, I don’t really know like what the vibe is of your audience, but I’ll just be very transparent and tell everyone that like Dave Ramsey, a little too conservative for my vibe. I’m not a church going kind of person. Totally fine. If you are, my mom loves him. She’s obsessed with them.

Braden: but. If you’re like, Hmm, Mr. Ramsey is not really, for me. You’ll probably love, I Will Teach You to Be Rich because, Ramit Sethi, who’s the author of that book I find has a much better core values alignment with myself is the way I would put it. 

Amanda: Yeah. Even as someone who is a goer. I high second, all of that, 

Amanda: all of it 

Braden: And it’s not to like split everyone into like two buckets, but I’m sure that you can attest to the fact that Dave Ramsey is very popular among Christian circles, especially when it like, particularly when it comes to money managers.

Amanda: Yeah, that that’s yes. I second, I Will Teach You To Be Rich. It’s a great book. He walks you through the steps. I literally have, like his ladder is great. It’s great. Highly recommend. I second, all of these books actually, they’re all phenomenal. So thank you. We will link to all those in the show notes and Braden.

Amanda: I know you have something coming out or just recently came out as this airs that will help everyone if they’re just like I’m doing this myself, but I really need some help with this tax season. You want to share a little bit about that? 

Braden: Yeah. So I always have lots of stuff going on, but the main thing for tax season is something I created called the tax season playbook, and I developed it as more of like a live challenge.

Braden: This’ll come out after the challenge has happened, but all of the trainings, the PDF documents, the, I have a bookkeeping template. They’re all in. They’re all available on evergreen, along with some of my Q and a recordings. It is a paid offer, We’re recording this, like back in January. So I don’t know exactly what the price point will be, but it’s going to be under a hundred dollars.

Braden: So pretty cost effective. And the goal of that is to help you get ready for tax season and get all your ducks in a row, that kind of thing. So www.bradendrake.com/playbook. And then if you’re looking to just kind of get yourself into my ecosystem and, universe,, I have a podcast. I have a free Facebook group and I have a litany of free resources, free downloads blog posts on my website.

Amanda: Highly recommend all of it. Braden is so helpful as we are recording this. He has just done this whole thing in his Facebook group, about 10 99. I learned so much from, and I was definitely doing things incorrectly. So highly recommend that you just hop into the Facebook group at the very least, but definitely check out some of the other things that he has to offer, because he makes all of this really complicated seeming stuff, tax legal, all of it, really, really simple.

Amanda: So Braden thank you so much for joining me today. I really appreciate it. And I know that everyone listening, it’s going to be very thankful for all the help that you’ve provided with taxes. 

Braden: Yep. Thank you. It was my pleasure.


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