Tom Brady, the NFL legend known for his incredible career and for leading his teams to a record seven Super Bowl wins, is making waves off the field in Miami’s real estate scene.
His latest venture? A jaw-dropping waterfront mansion in the ultra-exclusive Indian Creek Island, affectionately dubbed “Billionaire Bunker.”
Yes, you heard that right – Brady is setting up his new bachelor pad in one of the most coveted slices of paradise in Miami, and let me tell you, it’s nothing short of spectacular.
For those keeping score at home, Indian Creek Island isn’t just any neighborhood. It’s a veritable who’s who of billionaires and A-listers, with names like Jeff Bezos and Ivanka Trump calling it home.
And now, Brady, fresh off his retirement and stepping into his new life chapter, is about to join this elite roster.
Tom Brady’s megamansion in Miami’s ultra-exclusive Indian Creek Island
Brady’s future digs, a sprawling estate that’s been the talk of the town, sits cozily across the waterway from the abode of his ex-wife, Gisele Bündchen.
The supermodel paid $11.5 million for her new spread at 1400 Biscaya Drive in Surfside right after their split and is currently revamping the waterfront home too.
See also: Tour Tom and Giselle’s former marital home in Brookline, Massachusetts
So while the former A-list couple is keeping local construction crews busy, let’s take a closer look at the former New England Patriots quarterback’s sprawling Florida abode — and pin down what makes his newly built mansion a touchdown in luxury living.
Set at 26 Indian Creek Island Road, Tom Brady’s house in Miami has all the hallmarks of a celebrity megamansion to rival those of its deep-pocketed neighbors (Amazon boss Jeff Bezos paid $68 million for a teardown on the island).
We’re talking about a state-of-the-art gym (because, of course), a sleek study, and a waterfront pool and spa that screams relaxation with every ripple.
And for those balmy Florida nights? An outdoor kitchen, lush gardens, and a tree-lined driveway that leads to a motor court, ready to house Brady’s collection of high-end rides.
The property also boasts a plush pool cabana adjacent to an infinity pool lined with palm trees, creating a backyard oasis that’s second to none.
And for that extra touch of privacy and security? A large security house stands guard at the entrance.
Renderings of the mega-mansion have leaked, showing off the primary and guest suites, each with their own terraces.
You can take a peek inside thanks to these indoor renderings obtained by The Real Deal (swipe to see inside Tom Brady’s new house in Florida):
The interiors bear the signature of lauded designer Scott Mitchell of Scott Mitchell Studio, known for his standout designs, combining contemporary architecture with geometrical elements and juxtaposing soft, tactile textures against concrete and other natural materials.
Mitchell’s design style, which creates a sense of understated comfort, has drawn in some of the richest people in the US.
Beyond his long-standing collaboration with Tom Brady and Gisele Bündchen, he also counted billionaires Larry Ellison and David Geffen as clients, as well as former Walt Disney Studios boss Jeffrey Katzenberg.
It’s clear no expense has been spared in creating this slice of heaven. With construction in the final stages, sources hint that Brady is expected to move in come spring.
By the numbers: How much it’ll cost him
Now, let’s talk numbers because they’re just as impressive as the property.
Brady and Bündchen snagged the 2-acre lot almost three years ago for a cool $17 million. And as hefty as that might sound, it’s worth remembering that the lot sits in one of the richest neighborhoods in the United States.
Properties here typically sell for eight-figure amounts and are rarely up for grabs.
In 2023, a waterfront mansion just down the street from Tom Brady’s house listed for a whopping $85 million. We haven’t seen any other Indian Creek houses pop up on the market since.
But the land cost isn’t reflective of the overall value of the property — which sits north of $50 million.
The construction loan Brady took out from JPMorgan Chase to build his Indian Creek Island house sits at a whopping $35 million, The Real Deal reports.
But when you’re Tom Brady, with an estimated net worth of $500 million and a $375 million deal with FOX as an NFL commentator waiting in the wings, well, let’s just say he’s playing in a league of his own.
Indian Creek Island has long been a haven for the mega-rich, but Brady’s new abode is set to raise the bar even higher. And while he’s traded the gridiron for the good life in Florida, it’s clear Brady is still in the game – the real estate game, that is.
Hunkering down in the ‘Billionaire Bunker’
Indian Creek Island — known as “Billionaire Bunker” due to the high concentration of billionaires that own property here — is a high-security paradise for the ultra-wealthy, nestled on a barrier island in Biscayne Bay, Florida.
This exclusive enclave boasts under 50 waterfront properties, each sprawling over 1.25 acres, centered around a lavish 18-hole golf course.
Homes here are no small investment, with properties here selling for well above the $20 million market, with recent standout purchases consolidating the island’s air of affluence and privacy. Just a couple of homes have traded hands on the ultra-exclusive island in recent years, one being Bezos’ $68 million purchase, and the other another $50 million home.
DJ and producer David Guetta is also looking to join this exclusive club, reportedly snapping up a $69 million newly built house on the island.
The community is so secure that it has its own 13-person private police force patrolling by land and water, ensuring that residents like Tom Brady can enjoy their sanctuary without worry.
From what we’ve seen so far, the NFL legend’s new mansion is more than just a home; it’s a sort of statement that life after football can be equally exciting for the five-time MVP.
And honestly, we can’t wait to see the final reveal. Welcome to the neighborhood, Tom!
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The Westwood neighborhood in Los Angeles has so much to offer its residents. From great schooling to delicious restaurants, there’s something for everyone in Westwood. This article will tell you all you need to know about this desirable Los Angeles neighborhood.
Where is Westwood?
Settled on Wilshire Blvd., Westwood is nestled amongst some of L.A.’s wealthiest neighborhoods. To the north, you’ll find Bel Air and to the south, there’s Century City. On the west lies Brentwood and on the east, there’s Beverly Hills.
In addition, the popular neighborhoods of Santa Monica and Hollywood are just a few miles away.
Source: Rent.
What’s it like to live in Westwood, Los Angeles?
Like all L.A. neighborhoods, Westwood is truly unique. It’s located close to the famous UCLA campus, which can make the surrounding area feel like a small college town. However, that doesn’t mean there isn’t more to this diverse neighborhood.
The average resident of Westwood is 50 years old. While the average resident skews a little older in age, it’s also a great space for young families and singles alike. There are many different elements that make living in this area great. Let’s dive into a few of those elements.
Community
Westwood’s population is roughly 2,000 people, composed of retirees, young adults and students. Although the area mainly draws in students attending UCLA or other surrounding colleges, it has become more popular in recent years due to the building of new high rise apartment buildings.
The area is also home to many retirees who enjoy the more suburban side of Westwood, near The Los Angeles Country Club. This area hosts spacious homes that draw in people looking for a quieter side of this urban neighborhood.
Westwood is also a great option for families as the area offers several amenities suited for families, such as spacious parks and interactive play areas. In this community, you’ll really find a broad mix of people across all ages and walks of life.
Safety
If you’re looking for a safe neighborhood in Los Angeles, you can’t go wrong with Westwood. Compared to other neighborhoods of Los Angeles, Westwood is a very safe place to live. According to the L.A. Times, Westwood averages one violent crime and 12 property crimes per week, with an average of 2.5 crimes per 10,000 people.
While we all want to live in a crime-free neighborhood, this rate per person is incredibly low compared to other areas in the city, state and even country. Safety matters when it comes to choosing a place to live and Westwood is a pretty safe area to settle down and call home.
Transportation
Los Angeles is not known as a walking city and most people living in Westwood drive to work with an average commute time of 27 minutes. Parking in Westwood Village can be tricky and sometimes non-existent. While public transportation is available, it isn’t always the most reliable.
That being said, Westwood is one of the more walkable neighborhoods in Los Angeles. There are other forms of transportation to get around this cozy neighborhood, such as rideshare apps, bikes and scooters.
Education
There are many great schools within the Westwood neighborhood. For families with children, the area offers many options for school, from private to charter to public schools. For high school, Westwood has many college prep schools for those looking for a more specific education for their children.
The most notable schools in the area are UCLA and Mount Saint Mary’s, which draws college students from all over the world. Whether your kids are just starting their education or ready to write their college essays and take the SATs, Westwood is a great neighborhood that caters to education and continued learning.
Entertainment
Westwood, Los Angeles has an abundance of entertainment, everything from fancy, fine dining to cozy coffee shops. Some of the favorites restaurants include Mary and Robbs Westwood Café, Diddy Riese and Espresso Profeta.
If you’re looking for a cultural day activity, you’re in luck because Westwood is home to some of L.A.’s best art museums — one of them being The Hammer — where you’ll find everything from Monet to modern art.
There’s also plenty to do at night. Try The Geffen and Fox theater as they’re staples in Westwood and are well known for putting on plays and hosting movie premieres. On the weekend, support local shops at the Farmers Market. Keep in mind the neighborhood is also located within driving distance to many other neighborhoods and attractions, such as the beaches of Santa Monica and the famous Rodeo Drive in Beverly Hills.
Finding an apartment in Westwood
Westwood is one of the most sought after neighborhoods in Los Angeles. With its new high-rise apartment buildings, diverse restaurants and entertainment, this area is quickly increasing in popularity. The average rent in Westwood is around $5,000 for a three-bedroom apartment.
Whether you’re a student, recent grad, young family or retiree, Westwood has something for you. It’s the perfect Los Angeles neighborhood to settle down in. Check out these apartments and find your perfect home in Westwood, Los Angeles.
Ashley Singleton is a writer who loves following and writing about current lifestyle, DIY and home improvement trends. You can read some of her other work on the Lady Spike Media website. In her spare time, she performs stand-up comedy in Los Angeles.
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode:
Master self-employment taxes and avoid common tax mistakes with expert strategies for managing your finances year-round.
How do self-employed taxes work? What are some common tax mistakes self-employed people make? And can you really write off payments on a luxury vehicle if you use it for work purposes? Hosts Sean Pyles and Elizabeth Ayoola discuss the intricacies of self-employment taxes and strategies for financial success and IRS compliance to help you understand how to navigate tax season as an independent worker.
CPA and financial strategist Krystal Todd joins them to delve further into the details of self-employment taxes, with tips and tricks on budgeting for personal and professional life, the importance of making quarterly tax payments, and whether to DIY taxes or hire a professional. They also discuss strategies like depreciating assets, the benefits of hiring family members, and navigating the complexities of tax deductions.
Plus: financial strategies for handling unexpected income and managing self-employment taxes, the importance of setting aside funds for unexpected expenses, and the advantages of timing revenue recognition and prepaying expenses for tax benefits.
Check out this episode on your favorite podcast platform, including:
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Episode transcript
This transcript was generated from podcast audio by an AI tool.
Sean Pyles:
As Ben Franklin himself said, in this world, nothing is certain except death and taxes. Taxes, as we all know, can be wildly confusing, and that goes double when an employer isn’t there to help.
Krystal Todd:
We need quarterly payments just of you estimating how much you think you’ll be paying in taxes, and then at the end of the year when you actually file your taxes, they’ll make adjustments based on whatever credits and deductions you’re eligible for, what you’ve already paid, and then you’ll see what you net.
Sean Pyles:
Welcome to NerdWallet’s Smart Money Podcast. I’m Sean Pyles.
Elizabeth Ayoola:
And I’m Elizabeth Ayoola.
Sean Pyles:
Today we bring you episode two of our nerdy deep dive into self-employment. In our last episode, we talked about the importance of budgeting when you’re working for yourself. Obviously here at Smart Money we think it’s a good idea for everyone to budget, but especially if you’re self-employed, you’re going to need to budget for both your personal life and your professional life.
So in this episode, we’re going to answer the most important tax questions self-employed people have, like how do self-employed taxes even work? Is it better to DIY your taxes or hire a pro? And can you really write off payments on a luxury vehicle if you use it for work purposes? Welcome to tax season.
Elizabeth Ayoola:
Womp womp. My favorite part of tax season is when it’s over. Thankfully, I’m getting better at taxes every year and I’m also learning to outsource. Shout out to my tax person. Anyways, yes, it’s February and it’s tax time for all of us. And if you’re a gig worker, freelancer, contractor, or other solo entrepreneur, you need to make sure that you’re doing all the heavy lifting an employer would usually do for you. And you have to do that to avoid mistakes and IRS penalties. Hopefully those who aren’t new to self-employment have withheld enough quarterly taxes throughout the year so they’re not hit with an IRS penalty. New listeners who are about to dip their toes into self-employment are about to learn about how self-employed taxes work.
Sean Pyles:
Yeah, that is no bueno. I know people who, when they started freelancing, had no idea that they were supposed to be paying taxes all year long quarterly instead of saving up for a big payment at the end of the year. The IRS does not look kindly on that, even if it ends up that you overpaid. And by people here, I am absolutely referring to myself because I once found myself in a world of tax hurt back when I was a contractor, and that is a lesson I shall not soon forget.
Elizabeth Ayoola:
It’s good to know I’m not alone, Sean, because I’ve been there too and it wasn’t fine.
Sean Pyles:
Elizabeth Ayoola:
It hurts. It’s a heartbreak.
Sean Pyles:
All right, well, we want to hear what you think too, listeners. To share your ideas and questions around self-employment with us, leave us a voicemail or text the Nerd Hotline at 901-730-6373. That’s 901-730-NERD. Or email a voice memo to [email protected].
So Elizabeth, who are we hearing from today?
Elizabeth Ayoola:
Today we’re going to be chatting with Krystal Todd. She happens to be a certified public accountant, a financial strategist, a money mentor and an entrepreneur. Her resume puts her in a good position to give us the juicy details we need on self-employed taxes.
Sean Pyles:
That’s coming up in a moment. Stay with us.
Elizabeth Ayoola:
Hi Krystal. Thank you for coming onto the podcast.
Krystal Todd:
Yes, thank you so much for having me. Really excited to talk taxes. This is my bread and butter. I love talking about anything money, really.
Elizabeth Ayoola:
No, I’m with you. I’m not going to lie, I do not love taxes, but I do love to understand taxes because I don’t want to pay the IRS more than I have to pay them.
Krystal Todd:
Oh, no. That’s why I’m here.
Elizabeth Ayoola:
Another tax year is upon us, and I think this information is going to be super helpful. So with that said, I’m going to jump straight into the first question I have for you, which is how do self-employed taxes work? And I know this is a big question, but I know I learned the hard way about self-employed taxes and I learned that they’re higher than what you pay when you’re working a traditional job with an employer.
So I want you to tell us why self-employed taxes are higher, especially when the government seems to provide so many incentives for small business owners.
Krystal Todd:
So it’s a double whammy because not only is it higher because we’re paying both sides of the employer tax, but we also have to pay it ourselves. So if you’re coming from a W-2 world into self-employment world, normally in W-2 world, it’s all handled for you. The biggest difference is that you’re having to have full control over paying your taxes, paying quarterly, whereas a W-2, you’re paying every paycheck. It doesn’t feel like that, but that’s what’s going on. And then the self-employment tax. So typically with your W-2 employee, you’ll pay half that piece and then your employer pays half of it, but because you’re self-employed, you are the employee and the employer, so you’re paying 15% in taxes.
Elizabeth Ayoola:
That 15%, I remember the first time I saw it and whipped out my calculator and I was like, “Wait, what? This was a chunk of money.” So I was a little unpleasantly shocked by that number.
Krystal Todd:
Yeah, there is a way to get around it.
Elizabeth Ayoola:
Tell me, tell me.
Krystal Todd:
If you’re just starting out, maybe it wouldn’t be most beneficial. It does depend, and of course you have to always throw a disclaimer out there. Everyone’s situation is different. I’m a CPA, but not your personal CPA, so take everything I’m saying as little seeds of wisdom to go research.
When you’re first starting out, maybe you don’t have your EIN, which is just basically your social security for your business, employee identification number. So it’s like your social security number but for your business, because businesses are their own entity. But when you’re first starting out, maybe you’re not doing all of that. So if you’re in the sole proprietor category, which means you’re just working for yourself, you hired yourself, maybe the next level up is LLC, limited liability company. So you’ve gone ahead and filed for that LLC so you have some protection, but you’re still going to be paying a lot of taxes.
It’s not until you get into the S Corp. And of course there’s a couple of qualifications there, but once you get into S Corp, you can actually pay yourself as a W-2 employee in your business. And then that’s how you circumvent that self-employed tax because even though it’s your business, you’re an employee of the business so it looks like a W-2. And the benefit of that too is especially if you’re self-employed, and I know some people have felt me on this, if you’re trying to get a loan for a car, once they see you’re self-employed, guns are blazing, right? They’re ready to ask you all types of questions. You have to provide so much information. As an S Corp, if you’re paying yourself, you’re going to receive a W-2 from your business so they don’t have to know it’s your business. They just see W-2 and no questions asked. There are some benefits to having an S Corp for sure.
Elizabeth Ayoola:
By the way, for everyone listening, we’re going to go a lot deeper into the different business structures in a subsequent episode, so don’t worry. We’re going to touch on that some more.
So now back to taxes. I know estimated taxes are something that I now do. Didn’t do before, but I remember when I was first researching self-employment taxes, that came up a lot. But I thought, “Hey, I can just pay it in one lump sum,” and I didn’t really dig deeper to read all of the fine details. Can you explain to us what estimated taxes are and how exactly it worked?
Krystal Todd:
Of course. So as I mentioned previously, as a W-2 employee, you’re paying taxes every single pay period. So you don’t necessarily have to worry about that, but as a self-employed individual, you’re not paying any taxes. So what the government has said is, “You’re not off the hook.” You’re not going to pay just one time at the end of the year. We need quarterly payments just of you estimating how much you think you’ll be paying in taxes, and then at the end of the year when you actually file your taxes, they’ll make adjustments based on whatever credits and deductions you’re eligible for, what you’ve already paid, and then you’ll see what you net.
So it’s crucial to pay quarterly taxes, and you can use things out there that help you track your expenses and your income and can even help you calculate that too, so you don’t have to necessarily do it all on your own.
Elizabeth Ayoola:
Absolutely. So tell us, when are the self-employed taxes due and what happens if you don’t pay them?
Krystal Todd:
Yes, they’re quarterly. If you don’t pay them quarterly or they realize that you haven’t paid enough, you will get fined. You don’t have to end up in jail if it was a legitimate accident, so you’ll be fine, but you will get penalized and it can be a little costly. So definitely make sure that you are just getting that done ahead of time. It’s a fresh new year, so new opportunities to make sure we’re staying on target.
Elizabeth Ayoola:
Yes. And for those who maybe are listening and unfortunately missed out on paying quarterly taxes and maybe in April are going to end up being hit with a bill, are there any options in terms of how they can pay it if they don’t have that lump sum cash?
Krystal Todd:
It depends on your situation. Sometimes the IRS will say, “No, you need to make this payment,” and sometimes they’ll work with you depending on the amount. So it does depend on your circumstances.
Elizabeth Ayoola:
What was this I heard about that you can sometimes do a payment plan with the IRS. So is this true?
Krystal Todd:
Yeah, no, it’s true. It’s true. I think it just depends on, like I said, your circumstances. Maybe there’s situations where if you had issues before, they’re a little bit more strict on you, but you can make payments.
Elizabeth Ayoola:
So now we want to get into the mistakes so other people can learn from those mistakes. So what are some common mistakes that you see clients make when it comes to paying their self-employed taxes? So for me, for example, I just wasn’t good at bookkeeping initially. I had my money in too many different accounts, so it was overwhelming when tax season came around to see what my deductions were and just basically my income. So as a CPA, tell us maybe two or three common mistakes you see people make.
Krystal Todd:
The common mistake by far is not making sure that they’re taking all the deductions and credits that they’re actually eligible for. So ultimately, a lot of people will think about taxes as a January through April situation, but it’s a year-round thing. Tax planning is almost more important than actually tax preparation. You want to think about the whole year and ways you can save money, different things you could probably invest in to bring your taxes down. So missing out on tax planning and then trying to just rush everything towards the end of the year is by far the biggest mistake. I’ll see people scrambling for receipts, looking back, and a lot of times if you’re just starting out, typically maybe they won’t have a separate business account as well.
Depreciation is the biggest one that I think people miss out on, not only for things like Airbnb in your home, but also your car. If you’re doing Uber or Lyft, you can get credit for the wear and tear on your car. If you have a computer or any devices that you have, those things are also depreciable or you can actually fully deduct them in certain cases. I definitely think that you should be empowered and doing it yourself, but if your taxes are getting complicated, you’d want to make sure that you’re leaning on a tax professional who will catch those expenses because a lot of people are paying too much.
Elizabeth Ayoola:
Thanks for sharing all of those incredible ways that people can reduce their taxes. Can you tell me about some other deductions or ways that people can reduce their self-employed taxes?
Krystal Todd:
Yeah, so a really neat one is making sure you hire your family in any capacity that you can. Now, of course, there’s some caveats here. You have to make sure you’re paying them a reasonable wage. So if they’re just an administrator, you can’t pay them multiple six figures. It has to be reasonable, but to the extent that it’s reasonable, you can actually hire them on. And I especially love this with kids.
So as an example of my own life, I hire my daughter and she’ll help me with my videos, she’ll help me with setup. She helps me with product development, and she’s been featured in a few of my videos online. So I will pay her. She’s a 1099 worker, so it’s not a W-2, so it’s simple. I just have to give her a check, and what I love about that is that I get to reduce my taxes, and this is more like W-2, but either way, we all get a standard deduction.
If I pay my child up to the standard deduction amount, which was just a little over $13,000 for 2023. If I pay her $13,000, I get to reduce my taxable income by that same $13,000. She pays no taxes on it because of the standard deduction, which basically is the IRS giving you some credits for having a kid or just whatever else is happening in life. They say, “Here’s just one flat rate. You just take that.” So she doesn’t pay taxes on that, and then I can put it into a custodial IRA for her and it’ll grow tax-free because it’s Roth. You’re saving money, they’re not paying any taxes, I mean, that’s a really good tax loophole there.
Elizabeth Ayoola:
For sure, for sure. And speaking of which, since we’re on the topic of deductions, I know sometimes people go a little over the top with these deductions, forgetting that the IRS does audit people. I know recently I’ve seen something floating around on social media about being able to buy a Mercedes Benz, also known as G-Wagon, and write it off using your taxes. And the rules for this are really complicated, so make sure to work with the CPA if you’re thinking about doing it. So is this true? And if it is, what is the catch?
Krystal Todd:
There are some caveats. It must be used in business. You can’t just buy a G-Wagon, you never drive in it. If you’re a realtor, for example, that might make sense. You have an image. If you’re a realtor, you’re selling million-dollar homes, you want to look the part. That might make sense. But if you’re a content creator working at home, you never go in the car to do anything, you cannot do that. In the eyes of the IRS that is illegal, so you have to make sure that it’s being used for business use. It doesn’t have to be exclusively, but if it is half business, half personal, you’ll have to adjust your taxes to account for that.
Elizabeth Ayoola:
So sorry to get into the nitty-gritty, but when you say business use, someone might say, “Oh, I have a meeting, I don’t know, once a month, and I’m driving it to my meeting.” A content creator. Does the IRS get into the details of how frequently you’re using the car?
Krystal Todd:
Yes, and the location. So if you’re driving from your home to a meeting, that doesn’t count. It’s only if you’re going from, let’s say, your primary job to your second job. Then that could actually be considered a deductible expense. So yeah, they’re very particular about what you’re using it for, where you’re driving from, and if you get audited, you better be prepared.
Elizabeth Ayoola:
So can you tell us, on that note, some major red flags or even myths that you hear of when it comes to tax deductions?
Krystal Todd:
Yes. I think that people think they could just deduct anything because it’s eligible. The government makes you go through hoops, especially after the Tax Cuts and Jobs Act where the standard deduction was doubled. They’re really trying hard to make you just take the standard deduction and just take that and go.
If you’re saying, “No, I’ve had more than $13,000 worth of expenses,” you might have. That doesn’t mean they’re all going to be eligible. So for example, for health costs that you’ve spent, maybe you spent $10,000 in health expenses for this year, but the government does not give you dollar for dollar, and if you take that, it has to be itemized. So you might do all this work trying to itemize your deductions and you were better off taking the standard deduction because they make you go through a lot of different hoops. There’s percentages, there’s phase-outs if you’re making a certain amount of money. So it’s super, super nuanced, and just circling back to what we talked about earlier as far as DIY goes, if you’re in that situation, unless you’re going to really put the effort into research, you probably are better off just getting someone who already has done this before and they’re comfortable with it because of all those different nuanced requirements that they have.
Elizabeth Ayoola:
So in the spirit of… Well, I don’t want to say in the spirit of getting audited because I don’t think anyone wants to get audited, but just in case, give us some bookkeeping tips. I’m still refining my bookkeeping because it’s just not my strong area, but what are some bookkeeping tips so that if the IRS comes knocking, people are ready?
Krystal Todd:
I strongly suggest getting software. If you have a software, you’re able to attach receipts directly to it. They’ll organize it for you. If you’re not someone who’s too familiar with income statements and cash flows and all of that, they prepare those documents for you. That by far has dramatically changed my business. And also having separate accounts. You can’t even imagine how many people will dig through their personal account looking for business expenses. Even if you’re just starting out, from the decision you’ve made to take this business seriously, please get your EIN so you can open up your business bank account, and that way everything is just flowing through one account. Lean on these different tools that will organize it for you and just be sure to keep receipts.
I would say you should be at least monthly. All these billion-dollar corporations, I mean, they’re doing things very frequently, but every single month we are balancing the books, we are going over our expenses and then we’re tax planning. So many people wait until the end of the year and then it just becomes a hassle. So to the extent that you can, get it done monthly. That is the best advice I have so you’re not stressing yourself out during these times.
Elizabeth Ayoola:
We’re in a very tech-savvy age, so how are digital receipts? So every time maybe you make a purchase or whatever, just keeping a digital file of your stuff.
Krystal Todd:
Yes, absolutely. And let’s say maybe you’re not ready for the software. That’s what I was doing when I first started out and I wasn’t too sure. Just a simple folder in your computer would work. Document everything in the moment as it happens, that way nothing is slipping through the cracks and you should be in good shape.
Elizabeth Ayoola:
So the last question I have, because in this series we’re trying to cover people who also have how they can manage your finances when they have inconsistent income. So for someone who has inconsistent income throughout the year, maybe they don’t make as much during the beginning of the year, but let’s say halfway through the year they land a huge contract.
How do they budget then for self-employed taxes or estimated taxes, rather? Because I know that’s based on how much you think you’re going to make, but you don’t always know. So maybe you’ve been underpaying for the first half of the year and then the end of the year comes. How do you manage that?
Krystal Todd:
I always say be as conservative as possible. It’s kind of like a dual opinion I have here because on one end, you don’t want to give the government an interest-free loan. That’s essentially what you’re doing when you get a tax refund. But on the other end, you also don’t want to deal with owing money, maybe being penalized and then having to pay that next year. So to the extent that you can, I would say be as conservative as possible when it comes to paying your taxes. Again, there’s different software that’ll help you establish what you should be paying. When you get that windfall, you weren’t really expecting it, right? So I like to live off of my most conservative amount of money.
So let’s say maybe it’s $10,000 a month. If I made $20,000 a month, I will ignore that $10,000 and put it to the side just because you’ll have that extra cushion to keep you protected in the event that you have a windfall you don’t expect. That happened to me last year, actually. I had quite the windfall and I wasn’t expecting it, but I had practiced what I preach and I had some money to the side, so it was okay. So whenever you get those large sums of money, pretend like you didn’t. Just live conservatively and then once a year is done, once you calculate your taxes and you pay it, then you can enjoy the rest. So it’s delayed gratification.
Elizabeth Ayoola:
Oh, I like that as a way of looking at it. And one day when I was complaining about my taxes, I remember someone saying, “The brighter side of that is that you made more money.” So we welcome a windfall, we just have to prepare for those windfalls.
Krystal Todd:
This is a little bit more technical, but something that I love because this again happened to me last year. Let’s say seasonality is something that your company is affected by. Maybe you get a big windfall of purchases or something at the end of the year. In certain circumstances, it might be best to ask them to pay you next year, right?
If you are a cash-basis type of accounting, you won’t get taxed unless you actually receive the money. So maybe you did make that revenue, but if you can have it pushed off to the next year because you didn’t expect that windfall and you don’t want to necessarily deal with the influx of the money you have to pay for those taxes, maybe you can have your customers pay you January 1st or January 2nd. That way you’re not going to be affected by that surprise, and that’s 100% legal. You can delay that or you can bring forward some expenses too.
This only works if, again, you are a cash basis, but if you want to pay something off for the whole year, you’ll be able to deduct that even if the whole year hasn’t actually happened yet. So there’s different ways towards the end of the year to try to get some last minute things in just to further insulate yourself.
Elizabeth Ayoola:
Love that. Those are some really, really good tips and a reminder of why it’s good to talk to CPAs. Do you have any final words of wisdom or anything that people might not be thinking about relating to self-employed taxes that you want to share?
Krystal Todd:
Yes. You are the driver. A lot of times people will shy away from it because it is intimidating, but in the age of information that we’re in right now, there is an influx of free information online. This is an example of one of them. Don’t be paralyzed by fear. Really lean into it because the difference between small business, and I really don’t use that word lightly because no matter if you’re small or big, you have to do the same exact stuff. So why even identify with your revenue or the size of your company? But a business is a business, and these larger companies become larger because they are hands-on and they’re very proactive with how they’re managing their money.
So I suggest that you do so too and do not be afraid of delegation. I, in other areas of life, have not delegated, and that is what comes back to haunt you. So you don’t have to do it all on your own. There are free resources, there are paid resources. Definitely make sure you’re just taking advantage of what you can take advantage of and you’re planning so that you can not be surprised with tax bills at the end of the year.
Elizabeth Ayoola:
Yes, absolutely. Echoing what Krystal said, you do not have to do it alone, and that is something that has made taxes a lot less daunting for me. Thank you, thank you, thank you, Krystal. This was so informative. I have learned so many new things that I’m going to apply when it comes time to do my self-employed taxes, so thank you. Thank you for coming.
Krystal Todd:
You’re so welcome. Thank you for having me, and good luck everybody in this tax season.
Sean Pyles:
Elizabeth, I never thought I’d say this, but that was actually a super interesting conversation about taxes. I am someone who was a planner in all aspects of my life, and like Krystal said, planning ahead with your taxes is so key whether you’re finding deductions, hiring your family, or making quarterly tax payments, but also there is a big difference between planning and scheming. I’m so glad that you guys talked about that viral G-Wagon tax hack because I have seen that so many times on TikTok. I have been really worried about people getting themselves into a world of trouble with their taxes.
Elizabeth Ayoola:
I’m telling you, on the journey of self-employment, I have realized that there are some things that are not too good to be true, but other things are too good to be true, and I think that’s one of them.
So while taxes can be a snooze fest, I think learning about ways to save and avoid penalties will always grab my attention. I love all the tax saving strategies that Krystal shared, and also the deduction red flags to look out for. I mean, for me, this episode was also a reminder about how important it is to talk to a tax professional who has extensive knowledge, and that’s even if you’re a DIY type person.
I feel more confident about filing my self-employed taxes now because of all the information we just got. But Sean, before we go, I do want to mention one development that we didn’t address with Krystal.
Sean Pyles:
What is that?
Elizabeth Ayoola:
Well, starting this year, there’s a new law called the Corporate Transparency Act. And what that says is that anyone with an official business designation, especially a one or two-person LLC, is going to want to be aware of.
This is an effort to stem money laundering and tax evasion in the small business category, and basically you have to file some extra paperwork with the Treasury Department called a Beneficial Ownership Information Report. If you don’t do that, you could be fined $500 and possibly get up to two years jail time, and don’t nobody want two years jail time.
Sean Pyles:
Elizabeth Ayoola:
Nobody. So definitely talk to your tax accountant and or your business attorney about that.
Sean Pyles:
Yourself included, Elizabeth. I do not want you to go to jail, so please get this done.
Well, thanks for that information. Elizabeth, please tell us what’s coming up in episode three of this series.
Elizabeth Ayoola:
Sean, we are all about getting to retirement here on Smart Money, but saving for it can often be an extra challenge when you are self-employed. We’re going to walk listeners through their options and how to make sure you’re planning for the future, even while you’re going into business for yourself.
Ayesha Selden:
If I can get to 10%, a double-digit percentage of my pay, of my gross pay, my pre-tax pay, I’m in the right ballpark. If you are self-employed, then the onus is on you, of course, to put in everything into your own personal retirement plan.
Elizabeth Ayoola:
For now, that’s all we have for this episode. Do you have a money question of your own? If you do, turn to the Nerds and call or text us your questions at 901-730-6373. That’s 901-730-NERD. You can also email us at [email protected]. You can also visit nerdwallet.com/podcast for more information on this particular episode. And remember to follow, rate, and review us wherever you’re getting this podcast.
Sean Pyles:
This episode was produced by Tess Vigeland. I helped with editing, Courtney Neidel helped with fact checking, Sara Brink mixed our audio, and a big thank you to NerdWallet’s editors for all their help.
Elizabeth Ayoola:
And here’s our brief disclaimer. We are not financial or investment advisors. This nerdy info is provided for general educational and entertainment purposes, and it may not apply to your specific circumstances.
Sean Pyles:
And with that said, until next time, turn to the Nerds.
RICHLAND TWP., Pa. – Eagles, Flyers, 76ers and Phillies fans will soon have a new spot to score jerseys, hats and other fan gear in upper Bucks County.
Rally House, a specialty sports store chain offering an expansive selection of apparel, gifts, home decor and other types of merchandise representing local NCAA, NFL, NBA, MLB, NFL and MLS teams, is planning to open a new location in a few months at 244 N. West End Blvd. in Richland Township.
The new store will fill the space previously occupied by Tuesday Morning, a home goods retailer, in the Trainer’s Corner shopping center, just outside Quakertown.
“We are opening a new Rally House location in Quakertown and excited to get it open to residents and fans,” stated Colin Novick, Rally House’s media and production manager. “We are aiming to have this store open in early spring in April.”
Rally House traces its origins to 1989, when Tim and Mabel “Peg” Liebert started “Mabel’s Kitchen,” a catalog featuring Kansas-related apparel, gifts and other merchandise.
Mabel’s Kitchen evolved into another business, “Kansas Sampler,” which featured five Kansas City area stores selling Kansas Jayhawks, Kansas State Wildcats, Kansas City Chiefs and Kansas City Royals gear.
The company experienced great success, and the Lieberts eventually decided to expand the business to other markets under the “Rally House” name in 2008, according to a company description.
Today, Rally House has more than 180 locations across 18 states. The new Quakertown area store will supplement more than a dozen other regional locations, including a Lehigh Valley shop in Lower Macungie Township, two other Bucks County stores and several locations in Montgomery County.
Rally House stays true to its roots by providing “an impeccable selection of local and team-related apparel and gifts, including exclusive designs available only at Rally House,” according to the company’s website.
Regional stores offer a wide array of merchandise, including clothing, blankets, glassware and signs, featuring logos and designs of Philadelphia and surrounding area teams.
Customers at the Lehigh Valley store, for example, can shop plenty of Philadelphia Eagles, Flyers, 76ers and Phillies items, along with merchandise showcasing designs of various regional universities, including Lehigh, Kutztown, Penn State, Temple, Villanova, Drexel, St. Joseph’s and West Chester.
Other area sports teams, including Lehigh Valley IronPigs and Philadelphia Union, are also represented.
Philadelphia area teams are primarily featured, but there is also a selection of merchandise featuring other popular teams such as the New York Yankees, Pittsburgh Steelers and New York Giants.
Customers can browse apparel such as T-shirts, sweatshirts, coats and shorts, along with footwear and fashion accessories such as slippers, hats, scarves and jewelry.
A wide variety of other gifts and home décor include items such as glassware, coasters, garden gnomes and flags, foam fingers, stuffed animals, keychains, pens, pennants, ornaments, cornhole boards, trash cans, calendars and umbrellas.
“Much like each person, no two Rally House stores are identical,” a message on the company’s website reads.
“They each carry merchandise customized and tailored to the specific collegiate and professional teams in that area. In additional to team apparel, Rally House offers a wide selection of local styles. This includes our very own exclusive line of RALLY Brand™ merchandise. The same items we have in our stores can also be found online at any time. We want to make things as easy and seamless as possible for fans who want to show their unique team spirit, regardless of wherever they live or shop.”
In addition to selling items relating to local sports teams, Rally House also works in conjunction with local sports stars and celebrities. These partnerships manifest themselves in the form of ticket giveaways, autograph sessions, radio remote contests and meet-and-greet events.
For the latest Rally House updates, follow the business’ pages on Facebook and Instagram. Info: rallyhouse.com.
Allentown updates
New Wawa could take Brass Rail’s spot next to Sheetz
ALLENTOWN, Pa. – The Allentown Planning Commission discussed a preliminary/final land development plan for a proposed Wawa convenience store Tuesday afternoon at city hall.
The proposal is offered for 3015 Lehigh St., the site of the former Brass Rail property. The plan involves consolidating two of the three existing lots, demolishing existing features on the consolidated lot and constructing the convenience store.
Should the proposed Wawa come to fruition, it would operate about 100 yards away from a Sheetz convenience store and gas station. Sheetz opened in August 2023 at the southeast corner of Lehigh Street and 29th Street, near Auto Zone. Additional nearby convenience stores and gas stations include a Turkey Hill on the other side of Sheetz and another Wawa about a mile north on Lehigh Street. Full story here.
Downtown Allentown Market welcomes new food vendor, says goodbye to another
ALLENTOWN, Pa. – The new year is bringing more changes to the Downtown Allentown Market, with one food vendor recently setting up shop and another bidding farewell.
Joining the 27 N. Seventh St. market is Randevoo, offering a twist on traditional Asian fusion cuisine.
Randevoo held a soft opening on Jan. 5 in space that was previously occupied by two other Asian concepts, Shinsen and Honmono Sushi, the latter of which closed in June following the owner’s move to Florida. Read more here.
Lower Macungie news
Lower Macungie planners recommend approval for Topgolf
L. MACUNGIE TWP., Pa. – The Lower Macungie Township Planning Commission recommend approval of a preliminary/final plan of an open-air entertainment facility Tuesday night at the administration building.
The plan, offered by Jaindl Land Co., involves the proposed Topgolf facility at the Lehigh Valley Town Center, slated for 361 Schantz Road and 4511 Cedarbrook Road. The proposed Topgolf and Town Center have already received conditional use approval.
Tuesday night’s recommendation involved the Topgolf facility, which includes a 72-bay golf driving range with a two-story, 20,460-square-foot building and associated parking on 11.5 acres within the Lehigh Valley Town Center. Topgolf will have site access from a private drive in association with the Town Center development. Read more.
New Lehigh County car wash to open later this month, joining 2 sister locations
LOWER MACUNGIE TWP., Pa. – Drivers looking to keep their vehicles in tip-top shape will soon have a new car wash to frequent in the Lehigh Valley.
The Car Wash on Hamilton, committed to providing customers with a “seamless and efficient car wash experience,” is expected to open by the end of January at 6794 Hamilton Blvd. in Lower Macungie Township.
The newly constructed car wash, totaling around 4,000 square feet, will supplement two sister locations: The Car Wash on Broadway, which opened in 2015 at 4540 Broadway in South Whitehall Township, and The Car Wash on West Main, which opened in October at 200 W. Main St. in Macungie. Full story here.
Bethlehem area buzz
Bethlehem restaurant closes, but owners continuing to serve customers via food trailers
BETHLEHEM, Pa. – The owners of a Bethlehem restaurant, serving up burgers, ice cream and more, have closed their eatery to focus on mobile operations.
Husband and wife Norman and Jill Matthews of Bangor have decided to shutter their 3.5-year-old south Bethlehem eatery, Dinky’s Ice Cream Parlor & Grill, and transition to a “completely mobile” business model, according to a post on Dinky’s Facebook page.
“That means we have two trailers, one that is just purely ice cream and the other is a food/ice cream truck,” they announced on the business’ Facebook page. “We will be going to different events, fairs, parties, food truck gatherings and hopefully breweries in the in the surrounding areas. Then we can get caught up with our loyal customers. Read more here.
Family-run restaurant rebrands with new name, look in Bethlehem
BETHLEHEM, Pa. – A popular fast-casual eatery, serving “gourmet quality comfort food,” is kicking off the new year with some changes in Northampton County.
Hummus House, a family-run restaurant known for its fresh sandwiches, salads, wraps and more, has rebranded to HandHeldz at 518 E. Third St. on Bethlehem’s South Side.
New signage was installed on Monday, and the business’ first day as HandHeldz was on Tuesday. Read more.
New expansive facility offers prime training space for athletes, teams in Northampton County
BETHLEHEM TWP., Pa. – A new indoor training facility is helping sports teams, clubs and athletes stay at the top of their game in the Lehigh Valley.
Powerballers Athletic Center, offering year-round training opportunities and a top-tier environment where youth and individuals of all ages can passionately pursue and enjoy their sport, opened in late November at 2550 Brodhead Road in Bethlehem Township.
The 14,000-square-foot facility features 10,000 square feet of flexible turf space, over 1,200 square feet of strength training space, batting cages, certified coaches and a climate-controlled environment. Full story here.
Expanding businesses
HiJinx Brewing Company to bring ‘fun and friendly’ vibe to 2nd Lehigh Valley location
A popular Allentown brewery is expanding its footprint in Lehigh County.
HiJinx Brewing Company, producing a wide array of craft beers that include IPAs, pilsners, porters and stouts, on Thursday announced plans to open an additional location at Sports Factory of the Lehigh Valley, 6616 Ruppsville Road, Upper Macungie Township.
The new location will supplement HiJinx’s original taproom and production facility, a 4,000-square-foot venue that opened in 2014 at the Allentown Economic Development Corporation’s Bridgeworks Enterprise Center, 905 Harrison St., Allentown. The brewery is in Suite 111. Read more here.
A-Treat Birch Beer expands as a fountain soda option at more Lehigh Valley restaurants
A month after announcing a partnership with Lehigh Valley hot dog shop chain Yocco’s, Jaindl Beverage Company – owner of A-Treat soda brand – has announced more local venues carrying A-Treat soda on tap.
In addition to being served at all five Yocco’s locations, A-Treat Birch Beer is now available as a fountain drink at Westside Grill in Upper Macungie Township, Wild Turkey Grill (at The Club at Twin Lakes) in North Whitehall Township and Moselem Springs Golf Club in Richmond Township, Berks County.
Westside Grill, Wild Turkey Grill and Moselem Springs Golf Club are owned by Jaindl Land Development. Read more.
Odds and ends
‘The store of the future’: Dave & Buster’s gears up for grand reopening after remodel
WHITEHALL, Pa. – A popular entertainment facility is ready to level up its services in Lehigh County.
Dave & Buster’s, the entertainment and dining chain that invites guests to “eat, drink, play and watch,” on Friday debuted its reimagined Lehigh Valley location on Friday.
The Whitehall Township location, at 1491 MacArthur Road, opened in October 2020 at a Lehigh Valley Mall outparcel, which was previously home to Friendly’s and Wendy’s restaurants as well as an office building. Full story here.
The Promenade Shops welcomes new tenant, hosting ‘Wonderland on Main’ event
UPPER SAUCON TWP., Pa. – The new year has brought a new tenant to The Promenade Shops at Saucon Valley.
Fulton Bank, offering a broad array of financial products and services in Pennsylvania, New Jersey, Maryland, Delaware and Virginia, on Monday opened its newest Lehigh Valley branch at 3060 Center Valley Parkway, Suite 839, Upper Saucon Township.
The branch offers a variety of services, including deposits, loans, check cashing and safe deposit boxes. Read more here.
Schuylkill County winery earns ‘best white wine’ in Pa. distinction from prominent wine critic
WEST PENN TWP., Pa. – A Schuylkill County winery is making a splash in 2024, with high praise on a well-known wine media platform.
Galen Glen Winery, at 255 Winter Mountain Drive in the Andreas section of West Penn Township, earlier this week received acclaim on JamesSuckling.com, a prominent wine media platform and events company with offices in Hong Kong.
Senior Editor Stuart Pigott labeled the Galen Glen Riesling Lehigh Valley Stone Cellar 2022 as “the best white wine he has ever tasted from Pennsylvania,” according to a Weekly Tasting Report. Read more.
Berks buzz
‘Stay and sip a while’: Folino Estate owners open 2nd Vintner’s Table wine bar and restaurant
WYOMISSING, Pa. – The owners of Folino Estate Winery near Kutztown have opened another tasty venue in Berks County.
Husband and wife Marco and Andrea Folino, who opened Folino Estate in Greenwich Township in 2015, on Tuesday opened a second location of Vintner’s Table – a wine bar and restaurant serving up Folino’s hand-crafted, award-winning wines along with charcuterie and light bites – at 945 Hill Have. Suite 100 in Wyomissing.
“We welcome you to reserve a seat at our table,” an announcement on Vintner’s Table’s Facebook page reads. “Our menu was a labor of love carefully curated to bring you an elevated dining experience full of rustic Italian flavors paired with our award winning wines in a chic and cozy atmosphere that invites you to stay and sip a while.” Full story here.
New golf simulator at Sly Fox has golfers hitting the virtual links
WYOMISSING, Pa. – There’s a new gathering place inside an already familiar spot in Wyomissing that can transport you to dozens of golf courses around the world.
While it’s winter outside, the basement of Sly Fox Brewing, dubbed the Foxskeller, features a whole different vibe.
Golfers are teeing up and taking their swings on brand new golf simulators. Read more here.
Vinyl enthusiasts to descend on Leesport Farmers Market this weekend for ‘Record Riot’
ONTELAUNEE TWP., Pa. – It’s about the search for something special.
“Number one, I’m a collector. All these guys that sell records they all are interested in records, so I’m looking at his records saying ‘What does he have?’ And I saw something I want to buy,” said Record Riot event organizer Stephen Gritzan.
Thumbing through crates of creative work put to vinyl is a physical interaction that seems increasingly rare. Read more.
‘Heavy heart’: Moe’s Southwest Grill location to close after 10 years in Berks County
EXETER TWP., Pa. – An eatery serving up made-to-order burritos, quesadillas, nachos and tacos is ending operations this weekend in Berks County.
A location of Moe’s Southwest Grill, a fast-casual restaurant franchise serving “high quality and fresh southwestern food,” will close on Sunday at 4725 Perkiomen Ave. in Exeter Township.
The restaurant is located in the Exeter Commons, between a Fine Wine & Good Spirits store and L.A. Nails Day Spa. Full story here.
Closing notes
Rite Aid closes Bethlehem store, with another Lehigh Valley location set to shutter on Jan. 15
Two Rite Aid stores in the Lehigh Valley are ceasing operations this month, joining several other regional locations of the pharmacy chain that closed in 2023.
First, a Rite Aid store at 104 E. Third St. on Bethlehem’s South Side shuttered on Wednesday, Jan. 10, according to storefront signage, addressed “Attention: store closure.” Read more here.
American Eagle Outfitters closing Lehigh Valley store
PALMER TWP., Pa. – A well-known clothing retailer is reducing its brick-and-mortar footprint in the Lehigh Valley.
American Eagle Outfitters, a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products, will close its American Eagle store at the Palmer Park Mall in Palmer Township on Jan. 20, a store manager said.
The manager could not comment on the reasons surrounding the upcoming closure. Read more.
Discount variety store closes in Easton area
PALMER TWP., Pa. – A destination for affordable snacks, household items, party supplies and more has closed in Northampton County.
One Dollar Zone!, a discount variety store “where you can find trusted brands and thousands of great quality items for as low as $1.00,” closed a couple of weeks ago at 785 S. 25th St. in Palmer Township.
It’s unclear what led to the store’s closure. A company representative did not return a message seeking more information, and a sign on the door simply reads, “WE ARE CLOSED.” Full story here.
CMG Home Loans is hosting a Blood Drive in partnership with the San Diego Blood Bank on November 15 from 9 am to 2:30 pm at 1033 B Avenue. All participants will be entered into a drawing to receive a $200 gift card to The Henry.
To RSVP, email [email protected] or DM them or comment on the post on Instagram @korykavyloans.
Did you know that there is an easy way to earn money while driving your car? Yes – you can get paid to advertise on your car! Car advertising is becoming more and more popular as companies are trying to find ways to reach new customers. Think of it like billboards – the companies are…
Did you know that there is an easy way to earn money while driving your car? Yes – you can get paid to advertise on your car!
Car advertising is becoming more and more popular as companies are trying to find ways to reach new customers.
Think of it like billboards – the companies are simply putting more ads on the road to hopefully sell more of their products.
If you’re interested in this idea, there are many companies that will pay you to put an advertisement on your car. This can be an easy way to make extra money in your spare time with little effort needed from you.
Quick Summary On How To Get Paid To Advertise On Your Car
Car wrap advertising is a way to earn extra money while driving like you normally do.
You may be able to earn around $100 to $400 a month with a car wrap.
Car wrap companies such as Nickelytics, Wrapify, and Carvertise are popular with this side hustle.
What Is Car Wrap Advertising?
Car advertising is when companies pay you money to put ads on your car. This makes your car like a moving advertisement while you drive around doing your normal everyday tasks (like driving to work or going to the grocery store).
This type of advertising is good for businesses because it lets their ad reach lots of people no matter where the car goes.
Many car advertisement companies use a form of car advertising known as car wrapping. The ads can cover either a part or the whole of your car, depending on what the advertiser wants.
Here are two examples of the types of car wraps:
Full car wraps – This is when full wraps are put on cars, covering the entire outside of the car with a vinyl graphic. These wraps can feature colorful designs, logos, and advertising messages related to the client’s brand or product.
Partial car wraps – Partial wraps cover sections of the car (such as doors, the back window, or specific panels). These typically pay a little less because it does not cover your entire car.
How much can you get paid to advertise on your car?
The amount you can earn from car advertising depends on things like the company you work with, the specific campaign, and the distance you drive. It’s a fairly passive income stream too, which is nice.
On average, drivers can earn around $100 to $400 per month. Also, some companies might give signup bonuses ranging from $100 to $300.
Recommended reading:
6 Ways To Get Paid To Advertise On Your Car
Below, I will be talking about 6 legitimate companies that pay you to put ads on your car.
1. Wrapify
Wrapify is a popular car wrap advertising company that pays you to advertise on your car. Companies that use Wrapify for advertisements include Petco, Cricket Wireless, Alaska Airlines, Uber, Coca-Cola, and more.
They have different levels of coverage, like full wrap, partial wrap, or panel wrap. The more coverage you choose, the more money you can earn. To get started, you need to download their app, register, and wait for an advertising campaign to join.
Wrapify pays its drivers based on the miles covered and the area they drive in. There is no minimum amount of miles that you must drive each day. Drivers in more populated urban areas can usually expect to earn more money than those in rural regions (this is because they want the most people to see the ads!).
You can earn around $264 to $452 per month for a full wrap and around $181 to $280 for a partial wrap. The full wrap will pay you the most amount of money.
2. Carvertise
Carvertise has been around since 2012, and they connect drivers with advertisers, turning your car into a mobile advertising platform. It is known for having hassle-free car wrapping with professional installation and removal of the advertising material.
Some of the brands that partner with them include Netflix, Planet Fitness, NASCAR, Wawa, Buffalo Wild Wings, Huggies diapers, and more.
Ads placed by Carvertise typically start at around $100 per month and go up to $500 per month.
To get started with Carvertise, you will submit a driver application that asks questions like where you normally drive. Then, you’ll be matched to a brand that is looking for your driving habits. After that, you get your car wraps and Carvertise will pay you each month through direct deposit.
Once your campaign is over, Carvertise then removes the wrap for you (you don’t pay for this, they do), and they will then look for another advertising partnership for your car.
3. Nickelytics
Nickelytics is looking for gig economy drivers who want to make extra money by wrapping their cars (such as people who drive for DoorDash, Lyft, and even rideshare drivers).
To get started, you simply download the Nickelytics app on your phone. They will ask you questions about yourself and the car you have. Then, they will ask you to turn on the app while you’re driving so that they can see where you drive and the mileage you are driving. This is so that they can better match you with companies. Once you are matched with a company, you will then get the wrap installed.
They pay around $175 to $250 each month that you drive around in a wrapped vehicle.
4. StickerRide
StickerRide is a company that lets you turn your car into a mobile billboard and wrap your car for money. The site is app-based, and you can choose the campaign offers that interest you.
This StickerRide app gives you points for each driven mile, and you can earn more depending on the location and time of day. StickerRide also has other ways to increase your earnings, such as by taking part in quests and flash mobs where you drive to a specific location so that the car advertising can be seen by more people.
You receive around one point for each mile driven, and each point is worth around $0.01 in the U.S. (and £0.1 for the UK).
5. Stickr
Stickr is a little different from the other sites above that pay you to place sticker ads on your car. This is because they don’t wrap your whole car or even panels on your car. Instead, they do rear window advertising.
The company provides drivers with an opportunity to make a passive income by simply placing an advertisement on a car’s back window.
To join this site, you simply sign up online, choose a campaign and car advertising decal, and then it will be shipped to you with simple instructions for applying the decal to your car.
Stickr says you can earn up to $2,300 in cash and gift card compensation each year.
6. Free Car Media
Free Car Media is another company where you can get paid to wrap your car. It can take anywhere from 3 days to several months in order to be matched with a company that wants to place an ad on your car.
This site does both full wraps and rear window wraps, and their campaigns can last anywhere from 6 to 24 months (or sometimes even longer).
Free Car Media claims that you could make up to $400 per month, depending on the advertiser and campaign.
Getting Started With Car Advertisements
Here’s how to get started with getting paid to put an advertisement on your car.
Eligibility criteria
Before you can get paid to advertise on your car, you’ll want to see what the car advertising companies require from you. Most companies require their drivers to have a clean driving record and pass a background check.
Also, you should have a valid driver’s license, car insurance, and be at least 18 years old. Some companies may also want your car to be a specific make, model, or year and be in good condition visually and mechanically. Many will ask for pictures of your car from different angles too.
Application process
Once you meet the eligibility requirements, the application process is pretty easy. First, research and choose a real company like Wrapify, Carvertise, or Nickelytics. Then, register with the company by submitting your personal information, your driving record, vehicle details, and some photographs of your car. Many of the car advertising companies above have a mobile app to download, available on Google Play or the App Store, which will make this all very easy.
After that, the company may perform a background check to make sure that you’re a reliable driver (after all, you would be representing the company that you are advertising for). Once you’re approved, you’ll then be matched with an advertising campaign, and your car will be wrapped with the advertisements.
How to get started with car advertisements
Here are the typical steps when it comes to getting paid for car ads with the different car advertising companies:
Register – Join the car advertising site of your choice by filling out an application online through your laptop or cell phone app (Android or Apple). This usually includes answering basic information about yourself, your driving habits (such as the number of miles you drive a day and your commute route), and details of your car such as make, model, and year.
Understand the contract – Carefully read the contract provided by the advertising company. Look for the length of the advertising campaign, expected driving routes, how and when you get paid, and any potential penalties for early termination of the contract or not meeting the driving requirements.
Get your car wrapped – Once you are matched with a company, the advertising company will wrap your car with the advertiser’s brand. The wrap is usually professionally installed and removed without damaging your car’s paint.
Start driving – After the wrap is installed, all you need to do is drive as you normally would. Your earnings will be calculated based on the agreed contract.
Remember, every company has different terms and procedures, so always thoroughly research each company before signing up.
Pros and cons of car advertising
There are pros and cons of car advertising. These include:
Pros:
Extra income – Car advertising can be a great way to earn some additional money without significantly changing your daily routine.
Flexible way to make extra money – You can choose the car advertising campaigns you participate in and how much you want to advertise on your car.
Low effort – After the initial setup of applying the ad to your car, there’s little additional effort required. All you need to do is drive so that people can see the ad.
Cons:
Limited control over ads – You may have limited control over the choice of advertisements displayed on your vehicle.
Potential wear and tear – If you do this a lot, then the frequent application and removal of ads could cause wear and tear on your car’s paint and finish over time.
Privacy concerns – With an advertisement on your car, you may experience a reduced sense of privacy while driving. For example, some people may come up to you while you’re parked to ask you questions, or they may assume that you have free stuff to give away inside.
Car advertising allows you to earn money while driving, but you’ll want to weigh the pros and cons first.
How To Recognize Car Advertising Scams
While there are legitimate car advertising sites, it’s important to be aware of the risks and know that car wrapping scams exist. There are MANY scams out there in the car-wraps-for-money industry.
Here are a few tips to help you avoid car advertising scams.
Real car advertising companies never ask for money up front – You should be suspicious of any company that requires payment or investment from you to get started. None of the companies above will ask you for money. There should also be no fees for decal installation or removal from a car wrapping company.
Too-good-to-be-true offers – If a site is saying that you’ll receive thousands of dollars a week for car advertising, it is most likely a scam. Real companies typically pay just a couple hundred dollars each month – this is not a full-time job.
Unsolicited offers and contacts – Scammers may send you a random email, cold phone calls, or social media messages with offers to get your car wrapped. But, I recommend sticking only with the reputable companies that you have done your own research on.
Poorly designed websites or communication – Scam companies may have unprofessional websites, use poor grammar, or have broken links. You should ignore these companies unless you are 1000% positive that it is real.
FAQs About Getting Paid To Advertise On Your Car
Below are answers to common questions about how to get paid to advertise on your car.
Do companies really pay to advertise on your car?
Yes, many companies will pay to advertise on your car, and this is a real way to make extra income. These are usually marketing agencies and brands that are looking for unconventional and cost-effective ways to reach new customers. They take advantage of everyday commuters to display their ads, making car advertising a win-win situation for both drivers and advertisers.
How much can you earn with car advertising? How much can I get paid to put an advertisement on my car?
You can earn between $100 to $500 per month, depending on the coverage of advertisement on your car. Smaller wraps, which may cover your doors or rear window, can earn you between $100 to $250. Full wraps that cover your whole car can make you around $250 to $500 each month. A car ad campaign typically lasts for several months.
What companies pay you to put their logo on your car?
There are many real companies that pay for advertising on your car, such as Wrapify, Carvertise, and Nickelytics. Before signing up, you should always research the company and make sure it is legitimate and trustworthy.
How much do you get paid to Carvertise?
Earnings through Carvertise can vary based on factors like the duration of the campaign, your location, and coverage of the advertisement. Ads placed by Carvertise can usually earn you around $100 to $500 each month.
How much does Wrapify pay?
With Wrapify, you can earn around $264 to $452 per month for a full wrap and around $181 to $280 for a partial wrap. The full wrap is the highest way to get paid to wrap your car.
Will Red Bull pay you to advertise on your car?
Red Bull does not pay for car advertisements. This is a common scam and you will not get paid to wrap your car for Red Bull. You can read more about this on Red Bull’s website here.
Can I choose which advertisements go on my car?
Typically, the advertising company matches drivers with advertising campaigns based on the information you answer when you register. Some companies may give you the option to reject campaigns that you’re not comfortable with, while others may assign campaigns automatically.
What types of ads are used for car advertising?
Car advertising usually involves using vinyl wraps or decals applied to your car’s exterior. There are three main types: small wraps, which cover only your doors and rear window; partial wraps, which also include side panels and the back of your car; and full wraps, which cover the entire surface of your car. The material is designed to protect your car’s paint job and can be removed without damage when the advertising campaign is over.
How To Get Paid To Advertise On Your Car – Summary
Car advertising is a real method of earning extra cash by allowing companies to display their advertisements on your car.
Companies such as Wrapify, Carvertise, Nickelytics, and others are real paid car advertising opportunities.
You can potentially earn a significant amount from car advertising each year, depending on factors like the advertising company, your location, the type of car you have, and the amount of driving you do. Plus, it also depends on whether you choose to do a full car wrap or a small decal.
If you want to start making money advertising on your car, then check out the sites above!
Are you interested in learning how to get paid to advertise on your car?
Halloween decor featuring the 49ers versus the Cowboys, Alameda, California, October 2023.
From skeletons dressed as 49ers to laser light displays to pumpkins painted like Mona Lisa, here’s a look at some of the most elaborate and unique.
In Walnut Creek, artist John Marchant filled his driveway with over 250 perfectly carved pumpkins. He has been carving for decades and enjoys delighting the neighborhood with his spooky gourds.
A home in Alameda’s Gold Coast has a full-blown football game on the front lawn, with skeletal 49ers running triumphantly over skeletal Cowboys.
Halloween decorations with a political theme in Alameda. Photo credit: Amelia Bullock
A home in San Joaquin County has an elaborate set-up involving lasers and pyrotechnics. The owner collects donations that are given to a homeless shelter in the area.
California home’s Halloween decorations include lasers
A home in San Joaquin County is lighting up the neighborhood with its lasers and fire effects for Halloween.
Also in San Jose, you’ll find Sally Jimenez’s haunted house, located on Vernon Ave in the Willow Glen neighborhood. She began the decorating tradition in 2018 for her son Chris who is terminally ill.
COLLEGE STATION, Texas (KBTX) – Capital Farm Credit is moving its corporate headquarters to College Station.
According to Oldham Goodwin, the company will relocate from the Wells Fargo building in Bryan to the former Viasat facility on South Traditions Drive in College Station.
“This new corporate headquarters will grow with us as we continue to serve our borrowers by providing agricultural financing for land loans, operating loans, home loans, equipment loans, and crop insurance,” said Capital Farm President and CEO, Jeff Norte.
The company plans to move by the end of 2024.
The following is the full news release from Oldham Goodwin:
Oldham Goodwin announced today that Capital Farm Credit, the largest agricultural lending cooperative in Texas, will be moving their corporate headquarters to 3902 South Traditions Drive in College Station. Capital Farm Credit has acquired the more than 90,000-square-foot Class A campus and will relocate their long-standing footprint from the Wells Fargo Building in Bryan.
Clint Oldham with Oldham Goodwin represented Capital Farm Credit in the negotiations with Arizona based Levine Investments and California based Viasat, Inc. Jody Slaughter, Managing Director of Corporate Services for Oldham Goodwin, represented Viasat, Inc., in the transaction.
“It is an honor to be able to work with an organization like Capital Farm Credit,” says Oldham, who is Executive Vice President of Brokerage Services at Oldham Goodwin. “They are a great company and true leader in their industry. We are thankful to have played a role in providing their real estate solution, and the Brazos Valley is fortunate to have retained their headquarters.”
Capital Farm Credit will move more than 100 of their corporate employees to the building and plans to occupy the space by the end of 2024.
“Capital Farm Credit is a growing cooperative serving more farmers, ranchers, and rural communities than ever before,” says Jeff Norte, Capital Farm Credit President and CEO. “We serve 192 counties across Texas with more than 600 employees. This new corporate headquarters will grow with us as we continue to serve our borrowers by providing agricultural financing for land loans, operating loans, home loans, equipment loans, and crop insurance. We are thankful to the team at Oldham Goodwin for their professional and dedicated work that has enabled us to locate and acquire our new home base.”
About Oldham Goodwin
Oldham Goodwin is a fully-integrated commercial real estate service company that offers brokerage, management, investment and development services to commercial real estate occupiers and investors throughout state of Texas. Our skilled professionals work as a full-service team, to provide our clients with simplified commercial real estate solutions.
About Capital Farm Credit
For more than 100 years, Capital Farm Credit has supported rural communities and agriculture with reliable, consistent credit and financial services. Offering lending services for agriculture and land loans, operating loans, home loans, equipment loans and crop and livestock insurance, Capital Farm Credit has 68 locations across the state of Texas. Capital Farm Credit is a proud member of the Farm Credit system and serves nearly 30,000 members, with loans outstanding totaling more than $11 billion. Headquartered in Bryan, Texas, the cooperative serves 192 of Texas’ 254 counties. For more information about financial services or our cooperative returns program, visit capitalfarmcredit.com.
The co-owners of a Yakima-based online business offering home décor, gifts and other hosting and kitchen items have opened a brick-and-mortar location in Glenwood Square.
Lexi Borton and Morgan Robinson began their online Table Envy “tablescape” rental business in 2020, just as the COVID pandemic shifted many gatherings from public places to private homes. It provided the items and décor necessary to host parties and other events.
That business led to Tavolo Shoppe, which offers many of the Table Envy rental items for sale. Those include charcuterie boards, dough boards, glassware, linens and pantry items.
Borton said other popular items at Tavolo, the Italian word for “table,” include candles, ceramics, spices and pillows.
After establishing Tavolo online in October, a physical location in Glenwood Square became available. The shopping center at 5110 W. Tieton Drive in Yakima is housed in a refurbished fruit warehouse and includes several restaurants, stores and services such as beauty salons.
“We love this space. We feel like it really fits our style,” Borton said of the Glenwood Square building. “Being in a place with a lot of restaurants and retail businesses has been fun. It allows us to meet a lot more people.”
Tavolo opened its Glenwood Square location in mid-June and is located on the first floor in Suite 220, immediately inside Entrance 1 on the west side of the building. It is open noon to 6 p.m. Tuesdays through Fridays and 10 a.m. to 4 p.m. Saturdays. Call 509-206-8766 or visit tavoloshoppe.com for more information.
I am a huge fan of simple living and of the do-it-yourself ethic. It’s no surprise then that I am fascinated by homesteading, the lifestyle of “agrarian self-sufficiency”. This article was written for Get Rich Slowly by Phelan, host of A Homesteading Neophyte, a blog about learning to homestead. Phelan is a regular commenter to this site.
Modern homesteading is a great way to save some of your hard-earned cash. That is if you are not afraid of a little hard work and waking before the rooster. The fast-paced convenient world of today can and will lead you down the path to debt. Four years ago I found myself in a terrible situation: How does one go about feeding a family of four on one hundred dollars for two weeks? Did we have enough money to buy gasoline just to get to work? It was scary not knowing where my family was going. Yet when I planted my first tomato, a thought sprouted in my mind.
My first homesteading goals were just to preserve my garden for the winter, insuring that there was always something to eat. But as my garden grew, so did my ideas.
There are initial costs when it comes to living a self-sufficient life. But all of the things that must be purchased will pay for themselves — the time that takes depends on how you manage them. We purchase our items slowly. Big items come with our tax returns, and only after any outstanding bills are paid. Smaller items are bought on an individual basis, depending what we can afford at the time, usually when we are out buying feed for our livestock. Because of the way we have built our homestead piece-by-piece, and the manner in which we have preserved our foodstuffs, we have money left unspent. Four years ago we would have never have believed this possible.
Homesteading isn’t something that can be done only in rural areas; even urban dwellers can benefit from simple self-sufficient activities:
Buy food stuff in bulk or on sale and preserve them by canning, freezing or drying.
Purchase a layer (standard-size chicken or bantam) for eggs and/or meat. Many cities allow you to have a chicken or two.
Container garden and create a neighborhood co-op, bartering different vegetables with one another.
Some of our start-up costs have been purchasing chickens, seeds, canning jars and equipment. My hot water bath and pressure canner came from someone that was no longer using them. The best advice I can give when it comes to your planning stage, is to talk openly about what you are wanting to do. You might be surprised on what some people have stashed in their attic and are willing to give freely. Check freecycle, your local paper, rural estate sales, garage sales and even try placing an ad in a free, or cheaply-priced paper for your wants/needs.
Once your chickens and seeds are purchased, your only costs will be feed and water (if you are not on a well). Seed saving will insure your next year’s garden. Allowing your hens to hatch eggs will replenish your stock. Be creative when it comes to reusing materials. We use our un-repairable refrigerator to store our feed, a broken fan stand for a sprinkler stand, and cracked hoses for deep soak waters. Save your glass jars to store dried goods in, and milk cartons to start seedlings. Just remember: it’s not white trash, it’s imaginative, frugal and eco-friendly.
My family might be an extreme when it comes to simple living. We are building a new home, a green shelter. Using only locally produced and recycled construction materials and building it ourselves will save us more than half the cost of paying someone else to build it. With a fire place, underground water cooling systems (air-conditioning) and going solar powered, our out of pocket expenses will drop dramatically.
Some other things to reduce expenses are:
Raiding a wood lot and building a wattle fence
Buy fruits and vegetables from a “U-Pick” farm
Making your own pasta, juices, vinegars, wine and dyes
Creating wooden toys
Make your own soap
Making your own yogurt and cheeses
These things do take time and dedication, but just the act of making your own dinners from scratch will save you money. Using flour, eggs, and water to manufacture your own noodles will cost you less than buying the same amount in the pre-made versions. This can be said about most things that you can create from scratch, the base components while at first seem more expensive, are cheaper when compared to their convenient counterparts.
While homesteading can seem daunting at times, it will save you money as well as bring your family closer together. At home, self induced family entertainment, is another benefit of living simply. It also comes with free educational experiences that are rarely taught in a public school system. Check in with your local extension office for free or inexpensive classes for you and your children. Take a drive in the country and look for hand made signs boasting of wares for sale, they can lead you to a wealth of knowledge and new friendships.
Modern homesteading is not for everyone. Yet taking a few of these suggestions and applying them to your own life will make a significant difference on the way you view the world, and the impact on your wallet.
You can read more about Phelan’s adventures in homesteading at her blog, A Homesteading Neophyte. She has also written articles for other publications:
If you’d like to read more along the same lines, I also recommend Pocket Farm, a weblog from a couple looking to achieve Voluntary Simplicity on a farm in Maine. You might also like homestead.org or the forums at Homesteading Today.