EPISODE 17: Managing Finances as an Independent Consultant
In this Craft of Consulting podcast episode, I talk finance with Diana Crabtree-Green. She is a CPA who specializes in individual tax and personal finance. She helps individuals with personal money management, financial planning, and tax-advantaged saving strategies. She walks us through the tax and other benefits and drawbacks of working as an independent consultant and gives us advice for maximizing deductions without getting in trouble with the IRS.
Diana Crabtree-Green, CPA, shares how to run a business as an independent consultant and get your taxes right. She covers key decisions you must make leading up to going independent and simple and effective ways to manage your finances and enjoy tax advantages once you do. In this podcast, we talk about:
The financial pros and cons of working as an employee at a consulting firm vs. an independent consultant
Making sure you don’t undervalue yourself or fall prey to “Imposter Syndrome” when you’re first starting out
The most common tax write-offs
What to do and not do to not get in trouble with the IRS and to maximize the amount of money that you keep in your pocket
How to maximize your retirement savings
An option for professionals considering consulting to get the benefits of being employed and the time and flexibility to build your business over time before you transition to being independent
Establishing rituals in your workday to bring balance to your life
More about Diana:
In this Craft of Consulting podcast episode, I interview Stefanie Lindeman
Listening Time: 56 min.