Business Expenses & Tax Deductions for Small Business That You DON'T Want to Miss

Are dental services taxable?

super helpful

Your videos are so informative

8 seconds... that's how far I got until her voice got annoying.

❤️‍🔥💫💫💫

What about your car

I own a sandwich and dessert shop and want to take baking courses to further my knowledge. Can these be deducted or have to be amortized? Also does it matter if its a college, or an online course?

love this!

I am in search of answer of my question and so far not able to get it. I have a single member llc, If I am understanding correctly irs to receive income tax return while states receive the sales and withholding taxes, am I right? And what is the difference between withheld and withholding taxes?

Awesome! Thanks so much, this is very helpful

You're amazing!!!

I'm not sure how or if I should bother with using my internet as a deduction. I do use as a contractor but don't know how to figure this as a percentage. It's definitely not the main use but I have to use it for my job.

I am happy that I have stumbled across your videos. I have started the process of starting my trucking business and have been very nervous. With yours and a couple of other people I have viewed, it has made it easier for me to understand the process better. Sitting here with my pen and paper, I thank you. I am looking forward to watching more videos.

you've just got to license K-Solo's "Your Moms In My Business" as your theme song

Why do you talk like a 7 year old girl?

Very helpful

I started with a certain amount of money that I put into my business account. I took that money back out once I made it (I already paid payroll taxes on that from my last job). How do you deduct that?

Hi thanks for your video! Can I deduct buyer paid shipping costs on Ebay or Mercari? In the case of buyer paid shipping, Mercari and both Ebay send those charges lumped into my gross sales amount, but I never profited from those shipping charges. I keep hearing you can only deduct free shipping, but those folks just raise the price of the item built into the sale and don't actually pay for shipping themselves. Which is the better way to go for taxes buyer paid or free ship? and can I still deduct buyer paid shipping through C.O.G.S deduction? Cause if I don't, anything I didn't deduct will be considered taxable profit from the IRS at the end of the year, which includes those buyer ship costs I never profited from.

Internet
Cell phone
Advertising
Meetings
Fees we pay

Helpful, do you offer consulting? Thanks

Can single member llc’s get their business expenses deducted?

I wish you did taxes.I need someone like you

I wish I had someone like her in my life

When starting a business should I get an accountant straight away or it's tax jar good?

I have an e-commerce business. Can I pay my remt and bills and use it as a tax deduction?

As in my personal rent for where I rent since I have no office?

How does this work really I register my business in nj, but get orders in TX, NYC, California etc.

It's confusing for me.

Does that mean if I created my LLC in December, I can’t deduct expenses I’ve incurred in previous months (Jan- Nov)? I’m an esthetician and have been working & buying supplies all year.

You talk like Kim Kardashian.

New business owner here and I LOVE YOU! Awesome content and helpful af.

Thank you I was going crazy before your video

I sayanything necessary, even if it’s not normal or ordinary. Entrepreneurs innovate. I’m creating a new mobile service that requires lugging around a heavy piece of equipment. I’m a scrawny guy. I gotta get strong enough 💪to lug that equipment, so the protein shakes should be deductible, right? 😁

Do these also apply for DBAs?

Excelent, excelent....I will follow you....thanks a lot...

What if you return an item you've purchased, but still use the receipt to write it off? I'm sure it's fraud, but how do/can they prove/audit that?

why is a retirement account deductible? it has nothing to do with the successful operation of business.. its completely personal.. if meals that sustain your life are not deductible then why is a retirement account that has nothing to do with business deductible? an even bigger question is why do we separate these things anyway.. why is my house and all my expenses not fully deductible.. if i dont live in a house or drive a car then its not going to be possible to run a business.. if i dont buy groceries and sustain my life then its going to be difficult to run a business.. therefore all personal expenses should be legitimate business expenses.. why dont we just deduct everything? otherwise ill need to deduct the irs wasting my time as an unnecessary business expense for having to deal with them..

why are irs descriptions so vague? doesnt that make everything a gray area or doesnt that give them license to disallow all legitimate business e3xpenses? isnt that fraudulent on the part of the irs?

Our LLC's heavy trucks that haul livestock all have satellite radio capability.
Do you see a problem with an annual subscription to the satellite provider as a deductible expense?

Great video. Thank you.

Are you available for hire tho👀

I learn so much from you. Your energy is everything and you make it very easy to understand. Thank you so much. 👑

Great content! Thank you

Love your channel 👍

If I use my personal cellphone more for my business and if I want upgrade and buy an Iphone 12 Pro Max, can I deduct that as business expenses ?

So a computer is deductible even if I choose to buy a $2000 computer instead of $300 computer ?... how that works?

Hi, I started a house cleaning business as a sole proprietor, so it’s just me. Can I deduct mileage from traveling from my home to my client's homes ? Or no? Because I don't technically have an office at home, I just have my cleaning supply storage spaces lol. I'm not sure if I can deduct the miles or not.
Also, would things like vacuum cleaners (around $250-350) be deductions or do they depreciate?
Thank you to anyone who can offer some advice!!!

This was very helpful

How do they determine if you are planning on going into business? Is that based on you having an LLC? What if you're in the process of opening an LLC? Do you have to have an LLC to get these deductions?

Your videos are awesome!

This was a very informative video! Awesome thanks!

Thank you for this. Super helpful as I’m starting to freelance

This is super helpful

Just subscribed, great video . So it sounds like from what you’re saying, I can deduct the monthly rent I pay for conducting business out of my office ? I pay $600 a month that’s $7200 a year

Super informative!