{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Lets Get Fiscal","title":"EP43 - How Are Retainers Taxed? Your Creative Business Playbook","html":"","width":"100%","height":180,"duration":1240,"description":"Retainers and deposits can feel like found money—until tax season hits and you realize you might be paying taxes on funds that aren't actually yours yet. If you've ever received a production budget in December only to pay it all out in January, or collected deposits for work you haven't performed, this episode is your essential guide to understanding when retainers count as income and how to avoid costly cash flow mistakes.\n\n\n\nAnastasia and Myiesha break down the critical differences between refundable and non-refundable deposits, explain cash basis versus accrual basis accounting, and reveal when you might be accidentally paying income tax on money that's earmarked for vendors. You'll learn practical strategies for separating reimbursement funds from service income, discover when it makes sense to change your accounting method or fiscal year, and get actionable tips for managing production budgets, event planning expenses, and interior design client funds without draining your own cash flow.\n\n\n\n00:00 Introduction to Retainers and Deposits\n\n00:34 Meet Your Hosts: Myiesha and Anastasia\n\n00:56 Understanding Deposits in the Creative Sector\n\n01:33 Tax Implications of Non-Refundable and Refundable Deposits\n\n04:25 Cash Basis vs. Accrual Basis Accounting\n\n06:01 Deferred Revenue and Seasonal Business Considerations\n\n07:25 Handling Retainers and Income Recognition\n\n12:12 Practical Tips for Managing Deposits and Reimbursements\n\n18:11 Final Thoughts and Viewer Q&A\n\n19:58 Conclusion and Next Steps\n\n\n\nWhy subscribe? Every week, Let's Get Fiscal shares tax strategies and business finance advice that actually work for real entrepreneurs—not corporate-speak you can't use. You'll get specific, actionable tactics, real client scenarios, and answers to the money questions keeping you up at night. The goal is simple: make business finances less intimidating and more profitable.\n\n🔗 Listen everywhere:\n\nApple Podcasts: https://podcasts.apple.com/us/podcast/lets-get-fiscal/id1831050448\n...","thumbnail_url":"https://img.transistorcdn.com/Cj41iyIfcFBHAdYb1RjfL4fGrAN9joi3rFvnBIvvpBs/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9iODc1/ZTI3Zjk2NDkzZmE2/N2Q5ZGMwZTU4MjQw/ZjM1Ni5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}