Are you a promotional marketer or independent contractor? Tired of paying too much in taxes ever year! Look no further and we will share with you 7 tips to start implementing right away to come out on top financially!

1. 7 Financial Hacks For Promotional
Marketers…And How To Keep Uncle
Sam Loving You!
Written By: Edwin J. Goitia
A Promo Rockstars Publication

2. #1 IC Financial Hack: Setup a Business
Checking Account

3. • Simply going to your local bank and asking if
you could open a business banking account
will allow the government to see that you are
in business for yourself, a self-proprietor and
looking to create more business in the US
economy. These things are music to the ears
of the IRS and US economy.

4. • It is very easy to open a business account
(proceed to #2 before opening this account),
however, make sure to shop around, as banks
usually have bank fees to have a business
account. Typically what is required is a
minimum balance requirements, attaching a
credit card for overdraft protection or
minimum monthly spend (to waive the
monthly fee), or direct deposit. If you shop
around, you can typically get a good deal.

5. • As an example, Chase Bank only charges
$15/monthly to maintain your business checking
account, but there are plenty of banks out there to
choose from. Either way, even if you pay the fees,
you can write it off on next years taxes as a business
expense.

6. • Finally, having a business checking account makes
end-of-year expense reporting much easier. Most
banks will allow you to print a single year-end
statement to submit to your tax accountant or CPA.

7. #2 IC Financial Hack: Get a DBA

8. • Simply going through the IRS website and
registering your fictitious name (usually your
legal birth name) or business name ("Doing
Business As") will also give you official self-
proprietor status and allow you to have the
same benefits that self-employed individuals
do.

9. • Once you have completed this step (some
banks offer this service for free or nominal
charge), you can start to list your DBA
("Assumed Name", again could be your name)
on most contracts or applications with talent
agencies. Agencies typically give you an
option to list it and therefore will report your
earnings to the IRS as if they are working with
a business, versus an individual. Talk about a
win-win!

10. • Visit the IRS website online to learn more.
• http://www.sba.gov/content/register-your-
fictitious-or-doing-business-dba-name

11. #3 IC Financial Hack: Start a Roth IRA

12. • The governments LOVES when individuals
invest their retirement savings into a ROTH
IRA.
What is a Roth IRA? A Roth-IRA is
contributions that are pre-taxed, meaning you
pay taxes up-front while you are young, and
withdraw contributions during retirement tax-
free.

13. • Roth IRAs have grown immensely in popularity
over the past several years and is a popular
choice among young adults when considering
saving for retirement.
• With the current year of 2014, individuals can
contribute up to $5500.

14. • Although you do get taxed up-front, it acts as
a double-edged sword and is a huge tax
advatange come tax season.
• To learn more, visit this simple article that lays
out the differences between a traditional and
Roth IRA!
• http://en.wikipedia.org/wiki/Roth_IRA

15. #4 IC Financial Hack: Consider an HSA

16. • Possibly one of the coolest ways to store away
money in a [slightly undercover] way that is
also a big tax break advantage & that the
government loves is through an HSA (Health
Savings Account).
• Are you healthy and hate spending money on
health insurance? We do too! That's why we
recommend this approach.

17. • A Health Savings Account is essentially a
savings account that is attached to a high
deductible health insurance plan. You buy a
low-cost, high deductible insurance plan, open
an HSA, store away funds for health care visits,
emergencies, and so on and so forth. The
following are the 2014 contribution limits:
– $3,300 for individuals
– $6,500 for families

18. • Now, here is where the true beauty lies.
• You can actually hack your HSA to act as a
retirement account. What the? That's
right. You heard me. If you are healthy and
only do your yearly visits and maintain an
active lifestyle, your account turns into a
rollover account, building in value and
practically being untouched until you retire.

19. • Then what? You transfer the funds to a Roth
IRA or similar retirement savings account and
invest the funds to further grow your savings!
• According to MadFientist.com, you can save
up to $800 in tax burden each other by
maxing out your HSA! Amazing!

20. • Read more here to learn how you can hack
your HSA. http://www.madfientist.com/has/
• Download their podcast, too. It's full of great
content in regards to savings and retirement.

21. #5 IC Financial Hack: Create a 3-6
month Emergency Savings Account

22. • There is nothing better than putting money away
for emergencies, especially when you are an IC
(you never know when you will have good
months/bad months right?!)
• What we have found is that not only will putting
money away do an incredible job of protecting
you, your family/loved ones, and your future, but
it will also give you peace of mind.

23. • What if you could do it in a way that earns you
money? More so than traditional banks?
• Our favorite savings website is
http://www.SmartyPig.com, where you will be
saving 1% interest and your funds are always
liquid. You can even create separate goals for
separate savings accounts!

24. • Where most banks are only paying 0.01-0.08% interest,
SmartyPig leads the way. Also, they give you the
option to cash out in gift cards from leading retailers
AND get a bonus cashback on top of it for doing so!
• Check them out and sign up for a free account (they
have an app too!). You can set it to automatically
withdraw funds from your bank account or you can
manually do it yourself. You'll have fun with it, we
promise. (Plus, it's pretty fun to see your money grow
too!)

25. • Add me on Smarty Pig:
https://www.smartypig.com/loves/promorock
star
• On a side note: If you're more traditional, you
can always go with a CD or a regular savings
account. Typically, having a savings account
makes your checking account free :)

26. #6 IC Financial Hack:
Outsource Your Life
• It's interesting how things have changed over
the years.
• Before the 2000s, outsourcing may have been
seen as either luxurious to most or hard to
fathom.
• Nowadays, with the sharing economy boom,
everyone can outsource in little ways.

27. • As you may already know, being a self-proprietor
(as we mentioned in #2 above) gives you tax
advantages when it comes to claiming business
expenses.
• Apps such as Uber (transportation), AirBnb
(accommodation rentals), DryV (dry
cleaning/laundry pick up/drop-off), and
especially Task Rabbit (outsource small tasks)
have made it easy for the average consumer to
outsource anything.

28. • Therefore, the more you outsource, the more jobs you
are creating, and therefore, the more money you are
putting back into the economy. The more you
outsource, the more the government will work in your
favor.
• Of course, keep track of all these expenses so that you
can claim them on your deductions come tax time next
year!
• An interesting read by Tim Ferriss on outsourcing life:
http://fourhourworkweek.com/outsourcing-life/

29. #7 IC Financial Hack: Get An
Education...the Non-Traditional Way
• And finally, the biggest one of all...education.
• Uncle Sam loves when self-employed folks get
an education...hands down.
• However, that education does not have to
come in the traditional sense.

30. • Education includes the following:
– Certifications: CDL course, liquor handling license,
manicurist licenses, cosmetology license, bartending
license, etc.
– Membership Dues: Professional organizations, etc.
– Online courses: Websites like Udemy, AppSumo and
more are selling one-time courses that are self-
taught.
– Coaching: Hired a coach? Write it off!
– Books/CDs/Audio: If you are reading or listening to
resources and learning at the same time, that is
education.

31. • The list goes on and on, but you get the
point. Anything that contributes to your
professional development is considered a tax-
advantaged write off. So take advantage of it!

32. BONUS IC Financial Hack:
Travel More!

33. • Travel hacking has been a surging hobby and
interest in the last several years!
If you do it right, you can literally travel while
you work, and also claim it all on your taxes!

34. • Airfare, hotels, mileage, car rentals, fuel, taxis,
food, excursions. You would be amazed what
you would spend in a year traveling constantly
as a promotional marketer. And furthermore,
if you are a sole-proprietor, even better!
Just make sure you are doing things smart,
and not abusing this privilege. Consult with a
tax professional to find out what you can and
can't claim on your travels.

35. • Plus, if you can expense things like TSA PreCheck,
Passport fees, and anything that contributes to
your traveling more efficiently, safer, and with
ease (yes, that includes baggage checks and
airport lounges!), then make sure not to miss out
on those opportunities to reduce your tax burden
for your taxes next year!
Join our partner Travel Hack community at
https://www.facebook.com/TravelHackLikeAPro

36. Thank you!

37. Thank you!
• If you liked this free resource, please feel free to
check out our website for more info.
• http://www.promorockstar.com/group
Also, sign up to get FREE access to the BRAND-
NEW PROMO ROCKSTAR UNIVERSITY! Free
resources put together from the past 4 years all
in one, easy-to-find place!
http://www.promorockstar.com/university

38. BONUS
• Would you like to sit down and learn how you
can set yourself up for financial freedom in the
future?
To be able to take care of your family and
secure their future as well?
Give me a call and I can walk you through
several options that fit your situation.
Call 630-888-7298 if interested. Thanks!