5 Tax Deductions Every Business Owner Needs To Take!
5 Tax Deductions Every Business Owner Needs To Take!
In today's video we explore 5 must tax deductions for new and existing business owners!
IRS Guidance on Business Expenses / Start-Up Costs:
https://www.irs.gov/pub/irs-pdf/p535.pdf
IRS Updated Guidance on Food & Beverage:
https://www.irs.gov/newsroom/treasury...
0:00 Introduction
0:40 New Business Data Trends
2:01 What is A Tax Write-Off?
2:44 #1 Business Start-Up / Organizational Costs
4:47 How the Deduction Works
5:10 #2 Legal & Professional Fees
6:01 #3 The Home Office Deduction
7:54 #4 Business Meals
8:57 #5 Travel Expenses
11:16 Time To Crush It and Leverage The Tax Code!
⚡️ Tax Free Wealth Training Course 😊
https://www.thetaxonomics.com/
⭐Schedule a Trader Tax CPA Consultation!
https://calendly.com/tradertaxcpa/
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🖥️Some of My Favorite Small Business Tools:
► BetterLegal – Have a Simple Business Structure? Great for setting up a simple small business.
https://betterlegal.com/?aff=848faca5...
► Gusto – Make paying your contractors and employees easy and painless!
https://gusto.com:/partners/r/brian38204
► QuickBooks - Awesome for keeping your business on track and organized!
https://quickbooks.grsm.io/brianriver...
► Google For Business -
https://workspace.google.com/landing/...
► Canva - great for building presentations and digital graphics for your social media
https://www.canva.com/join/trust-volu...
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DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need tax solutions I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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