397. Navigating Taxes for Travel Advisors with Andrew Roed

In this episode of the Passports, Profits, and Pixie Dust podcast, host Lindsay Dollinger interviews Andrew Roed, the founder of Taxes for Travel Agents. They dive into the complexities of tax preparation and financial planning specifically for travel advisors. Andrew shares his journey into the niche, sparked by his wife's career as a travel advisor, and offers key advice for new travel advisors, including the importance of separating personal and business finances, maintaining a robust system for tracking income and expenses, and understanding quarterly taxes. The episode also explores deductible travel expenses, the IRS's perspective on business vs. hobby activities, and practical steps to avoid audit issues. Andrew also discusses various resources, including an online course, his Facebook group, and individual consultations, aimed at helping travel advisors manage their taxes effectively. 00:00 Introduction and Guest Welcome 00:18 Andrew's Journey into Taxes for Travel Agents 02:22 Essential Tax Tips for New Travel Advisors 04:44 Choosing the Right Bookkeeping System 07:40 Understanding Quarterly Taxes 11:30 Travel Expense Deductions 25:46 Handling Audits and Hobby vs. Business 33:09 How to Work with Andrew 36:07 Conclusion and Future Plans Connect with Andrew: www.taxesfortravelagents.com Sign up for the Travel Agent Marketing Studio: https://www.lindsaydollinger.com/links Connect with Lindsay: Learn more about the travel agent business or get quotes for a trip: https://www.lindsaydollinger.com/travel Connect with Lindsay: https://www.lindsaydollinger.com Get your ticket to Purpose, Profits, and Pixie Dust Live here: https://lindsaydollinger.regfox.com/purpose-profits-and-pixie-dust-live Get 10% off your order at https://www.bellablingshop.com with code PODCAST Tag @lindsaydollinger on IG when you listen and share the show! Please subscribe to the show and leave a quick review! Appreciate you!