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TopicsCryptoDeductionsFamilyIrsLlc & S CorpPayrollPersonal TaxesReal EstateRetirementSide HustleSmall BusinessTax Strategy
0:38shorts
What makes a business trip tax deductible
Business trips need a business purpose, and each day must include work hours except weekends between meetings.
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1:14shorts
Which business deductions actually work and which don't
Dinner after work can be deductible, car wraps are deductible but not the car itself, and vacation trips need real business purpose.
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0:54shorts
Do you need to keep boxes of receipts?
Use one dedicated bank account and credit card for business expenses instead of keeping paper receipts.
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0:43shorts
What makes a meal a business expense
A business meal must benefit the business, but that doesn't mean it has to be a marketing expense.
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0:16shorts
Free tax review for small business owners
Send us last year's taxes and we'll review them for free to see if you overpaid.
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0:48shorts
Why cash payments can backfire in an IRS audit
If you pay rent or expenses in cash with no bank records, an audit will expose the mismatch and create big problems.
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1:06shorts
Actual expenses vs mileage rate for vehicle deductions
You can only deduct the business-use percentage of vehicle costs, whether using actual expenses or the mileage rate.
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1:04shorts
Why business deductions feel like half-price purchases
Business expenses reduce your taxes, so a $30 purchase effectively costs $20 compared to buying with after-tax W2 income.
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1:23shorts
How business owners lower taxes with reimbursements
By paying yourself a smaller salary and taking legitimate business reimbursements, you reduce taxable profit while keeping more money.
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0:48shorts
Why cash payments can backfire in an IRS audit
If you pay rent and expenses in cash with no bank records, an audit will raise red flags you can't explain.
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0:39shorts
Why business owners pay less tax than W-2 employees
W-2 income has limited deductions, but a side business lets you write off more expenses and save more for retirement.
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0:34shorts
Signs you have the wrong tax preparer
If your tax preparer never talks to you about deductions for your business, you need a new one.
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1:02shorts
Cashing corporate checks to avoid taxes is fraud
Rent payments from your corporation to yourself must be deposited and reported as income, not cashed to hide it.
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1:05shorts
Why W-2 employees have fewer deductions than business owners
W-2 income is taxed at the top, but a side business lets you deduct expenses and save more for retirement before paying tax.
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1:19shorts
Why self-employment gives you more tax control than a W-2 job
Self-employed people can write off business expenses and pay lower taxes than W-2 employees with the same income.
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0:53shorts
Why self-employment gives you more tax deductions than a W-2
W-2 workers have limited write-offs while business owners can deduct travel, phones, and expenses used to run their lives.
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0:57shorts
Why the Augusta rule isn't as easy as people think
You need fair rent, employees attending, and actual business conducted to qualify for the Augusta rule.
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0:36shorts
Don't pre-calculate your meal expense deduction at 50%
Give your accountant the full meal expense amount because the tax software automatically cuts it in half for you.
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0:48shorts
Why small business owners should prep taxes in summer
Get your books ready in summer so you can review strategies in fall and act before year end.
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0:47shorts
Shop equipment is a write-off, stop missing it
Equipment purchases for your business are deductible, and missing them for years means thousands lost to the IRS.
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1:14shorts
Why business owners have more tax options than W2 employees
Businesses deduct expenses before taxes while W2 workers pay tax on their full income first.
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0:29shorts
How S corp deductions keep money in your pocket
Let your S corp pay for meals, travel, and miles so you keep more of your income instead of giving it to the government.
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1:00shorts
Airbnb deductions your tax preparer is missing
Most Airbnb owners miss mileage, internet, phone, and cleaning expenses because no one reviews their returns.
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1:08shorts
Renting your home to your business still creates taxable income
If your business pays you rent, you must report that rent as personal income even though you own the business.
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415 videos in this filter