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14 Biggest Tax Write Offs for Small Businesses! [What the Top 1% Write-Off]

Frames 14 Biggest Tax Write Offs for Small Businesses! [What the Top 1% Write-Off]

Description 14 Biggest Tax Write Offs for Small Businesses! [What the Top 1% Write-Off]

Comments 14 Biggest Tax Write Offs for Small Businesses! [What the Top 1% Write-Off]

can i write off booze as a business expense? Comment from : MC13

So to keep track of all my business expenses I can just screenshot the bank transactions And save them Right ? Comment from : Key

Tax right offs start at 5:55 Comment from : Ontheroad

Fo tha Al Gough Comment from : Dan Boyd

Your office chairs bookshelves, chair office fans or ac is all needed Even office lamp or my headset that I need and use for online Comment from : KyraReneeLOA

Wow! great information! New here, and I am looking forward to learning! Comment from : The Unknown Empress

Let me save you guys time and jump to 4:18 to begin the video // Edit : actually jump to 5:40 that’s when he begins the list🐌 Comment from : Self Reminder

How do one become your client? Comment from : Tristan Morrow

Do these deductions apply to sole proprietary Comment from : Matthew Griffith

This was a very helpful video Great job, especially the general “rule of thumb” that you should convert to an s-corp at about $130k Thanks agai Comment from : Rick Dilsavor

Do you have to be the home owner in order to use the house tax write-off? Comment from : N Major

Love this channel Just found it 💖 Comment from : D’ga Oya Ma’at

I was just working for somebody who was pretty much illegally using me as an employee I had to ride with him every single day and use his equipment but he was making me do a 1099 Unfortunately the pay wasn't that good and since I don't actually own a business or anyting I don't really have any deductions I could use so I would get raped in taxes I just ended up leaving the other day I can't get raped in taxes like that It's not even worth the time and energy Comment from : KidVon

9:12 Comment from : 6395devans

Can you write off tax on your credit card, debt cards or cash advance loans on your 1099 why or why not,??? Comment from : BallinAce

This does not answer the question of why do rich people not pay any taxes?brbr Even with all the business write-offs taxes are still very expensivebrbrYou obviously can't write off all your personal expenses which means everything that you have for personal use has to be paid with taxed money brbrSo if you have $7,000 in bills every month, you would have had to have made about $9,000 to pay them because the IRS wants their share of everything you make and their share is greater than any expense that we havebrbrExtortion at its finest Comment from : Joshua Jorgensen

It's really crazy to think that people would write off nothing, it's seems to be pretty plain and simple if you pay for anything that your business uses you can write it off Comment from : Joshua Jorgensen

I don't understand the number fivebr rule Comment from : raphael mignacca

I want to start an investment firm or a company but it will be private and will reinvest all capitalist gains or profits What is the best non-profit? or head fund to re-crate Comment from : Cricket Wireless

⭐️⭐️⭐️⭐️⭐️⭐️ Comment from : Sterl Girl

I guess my main question is brCan I do business write-offs on things I pay with personal accounts? brbrMy company office is at home, I have an office, use utilities and whatnot, but I pay everything petering to my home with a personal bank account Can I still write these things off, although paying with personal funds? brOr do I need the Company to pay these bills? Comment from : CC

Will I still be able to claim tax deductions for my home office even though I pay the utilities and whatnot from my personal bank about? Comment from : CC

Good morning, we are about to embark on our new adventure We are about to have a new business How can we get ahold of you to see if we are a good fit? It’s important for me to quote prices and see which PA business is the right fit I’m in Seattle but I don’t mind hireing and supporting small and remote businesses 🎉 Comment from : Ingrid Gifford

Can you write off a home office if you have an Scorp and have your business office in separate location office condo ? Comment from : Leticia 503

Damn so this is what they mean by the rich only get richer 😂 Comment from : V

Topic No 515 Casualty, Disaster, and Theft Losses I DIDN'T FILE LAST YEAR For a contractor doordash, i lost my car in a car fire while getting off the freeway I lived in my car lost all my clothing shoes phone EVERYTHING I got burned up incurred medical bills Had to live in the streets when i didn't have hotel money or a place to stay CAN I CLAIM THAT LOSS IN MY TAX RETURN I'M JUST NOW FILING FOR 2021 AND 2022 AND I AM CONFUSED A LITTLE ON HOW TO CLAIM brMY BRAIN FROM 12 YEARS OF DEVASTION IS STRESSED A LITTLE BUT I CAN DO ALL THINGS THROUGH CHRIST JESUS AMEN brbrTHANKS FOR INFORMATION IT HAS BEEN WONDERFUL TO HEARGIVES HOPE IN MONEY I WOULD HAVE TO PAY BACK FROM BEING A CONTRACTOR HOPEFULLY I CAN GET SOME RELIEF IN REMOVING SOME OF THE AMOUNT DUE Comment from : Salon Kelley

GREAT GREAT GREAT INFORMATION THANK YOU Comment from : Sarah Adames

TOO MANY WHOOSHING & POPPING NOISES ON THIS VIDEO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! EXTREMELY ANNOYING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Comment from : John Lupo

Hello, this video is magic! Thank you for explaining all the complex bits so nicely! I have a question, where does one input deductions if you are a sole propieter and also do you have to attach receipts of these deductions upon filing Are deductions simply deducted from gross pay? Which forms are relevant to deductions for a sole proprieter tax from? Thank you! Comment from : Malin EM

This video was so valuable I’m new in business and learning how to do my business taxes Are educational ebooks, courses, and programs tax right off or deductions? Comment from : LASH MY VISION

Thank you for this information 🙏 Comment from : Demo Dennard Does it all

My jaw is on the floor thank you‼️ Comment from : Meetdahoes

Goated Comment from : Meetdahoes

Many taxpayers overpay on their taxes due to poor planning or missing out on write-offs, leaving small businesses paying way too much The video gives great advice on write-offs Comment from : Guys Finance

Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy have been earning $ 60,000 returns from my $7,000 investment every 10days Comment from : Fortune Hughes

Im in a similar situation right now Worked as a 1099 for years, and started my own LLC in 2021 Just now finding out about QBI, and the potential $1000's I gave to the IRS I'm seeing a CPA, VERY SOON! Comment from : JM Pest Solutions

Vary helpful! Thank you Comment from : The Dude 3000

Please how can I reach out to you? Comment from : NP CERTIFICATION ACADEMY, LLC

Great video 🙏🙏, question Can I write off the contribution to an HSA as a business write off? I see that as a personal tax write off Thanks Comment from : Millonario En Proceso

If I had to buy a boiler for my home does that mean I can write off part of that since I have office space I use for my LLC in my home? Comment from : Nichole Smith, Realtor

ok so we learn about tax write offs but how do you go abut it im at the basic level Comment from : Banana C

Thank you for this outstanding video 🤗 Comment from : Meghan Haines

I like your video presentation It is informative too, at the same time Thanks a lot for your guidance! Comment from : Aryana Smith

this is nice im learning a lot Comment from : Lailani Abella

Awesome content! Thank you! Comment from : James Gray

Something I truly appreciate about your videos is that you speak slowly and clearly Everything is spelled out super simple I seriously love what you do Comment from : ocaptmycaptain

Home right off? Could renters do the same? Comment from : Antoine Jones

Thank you guys so much This helps out greatly Comment from : Victor Rodriguez

I can't get past listening to the grammatical errors to concentrate on the subject matter Comment from : Mike Hinders

Thank you so much this is VALUABLE info A little overwhelming but I get it I think I will take CPA courses Comment from : iamdionne

That was Excellent Thank YOU! Comment from : Amp Lify

Awesome channel , very well produced ! And super informative ! Thank you for doing this Comment from : Abijah Hosea

Setting up to start my own auto detailing business this year and this video is incredibly helpful and insightful beyond words Thank you ! Comment from : David Kasparian

My dental cost was $9,000 and they got me approved to get a loan they recommend, so I've been paying back monthly Is that considered to be a part of the 'health savings account? Comment from : TomokoOfficial

I like your video presentation It is informative too, at the same time Thanks a lot for your guidance! Comment from : Ilona Josiane

There's some things i bought for my business before i started my llc, can I still write them off? Comment from : juke

The stupid girl Alicia Dougherty dozen on you tube over shopping buys too much food and 12 new I phones 12 kids ages range four year old to 16 years old alot of things trips too she New York city rent big buse Pays out a lot airplane trips Comment from : Kerri collins

Of any over shopping Comment from : Kerri collins

Can write off a lot of food shopping over 1000 and vacation Comment from : Kerri collins

Do u have have a time frame to add the start up business cost? Like if I start by business expense last yr but start my business this year can I still claim it? Comment from : Ra Ven

Can you deduct startup cost and operational expenses if you will have a loss the first year? Comment from : bulldogcrazy

Thank you so helpful! Comment from : Cait FINDs

Generating income is an action but keeping money is a behaviour, During time's like this it's proven to be a difficult challenge💯💯 Comment from : Johnson Charles

This was a dope video I have subbed to your channel, thanks for all your tips and knowledge! Comment from : JohntayGiveItUp

Thanks so much for this information! I'm 15 now but i'll be starting several small businesses in the near future so this is immensely helpful Comment from : Noah Godwin

9:18 clear and loud eXPesially ))))) New word in tax world No offense Just funny Comment from : Dvegastyle

Peace and love can you write off business credit cards annual fees? Comment from : moorish jamaican

3 minutes in and you offered no useful information Comment from : Big Van Little Adventures

Too long winded of a video Comment from : We are DIY

Crimes💯💯💯Attourney & Goverment Theft💯💯 Comment from : Ronnie Delahoussaye Chauvin

@LyfeAccounting I would like to hire your firm for accounting services but having trouble with the website what is your contact information? Comment from : Neicey ♥️

Thanks big bro Comment from : Anthony Romero

👌 Comment from : Rosario Escobar

Hey good content, but do you service the Charlotte NC metro area? Comment from : bigqdone

New Sub, thanks for your knowledge! Comment from : A1 Tax and Bookkeeping Services

If I rent an apartment can the portion of my rent cost be written off as home office space? Comment from : LoveBug Ally

can we write this off ourselfs or do we go to a agent? Comment from : Kash MommyTv

Is this for Canadian businesses or American?? Comment from : Farzan Wafa

My country doesnt support tax write offs What the heck should i do Comment from : kiboorg 123

Do I need to apply for the business license for YouTuber? Comment from : Thuỳ Dương USA 🇺🇸

Excellent content! Thank you!! Comment from : Steph Roberts

Fantastic videos, thank you! Comment from : Zaki Law PLLC

Why are you lying, brother? This is just pure crap Fact is people will come with more expenses than their income Comment from : ZeeSports International

Amazing video This was so good I dropped you a like after the first few tips Please Keep up the great content Comment from : johnnyringdoe

Thank you very much Comment from : Jacint Alama

informative video Comment from : CHILL TEAM

following this Comment from : Telif Hakkı

cool Comment from : jhulia lemos

that was really nice Comment from : CisCray - EDM

what about s-corp, same methods Comment from : Almas Kamali

gold informations Comment from : FACTIFIED INDIA

Thanks for the list Comment from : Zehra Dal

You cadence …is super…annoying…and it…was…excruciating…to watch …even…at…15x!!! Comment from : David

Falin for malage Comment from : Warren Toles

Excellent video thank you! Starting my chiropractic business this month! Comment from : Dr Tyler Erickson

Hello, Please continue to post such informative and creative videos Therefore, people like us will be motivated and learn in real life Comment from : Henry Thomas

Hi LYFE, I just bought a 40 acre cattle farm in Davis Creek CA and I was thinking about doing a dude ranch or possibly some cattle and doing kind of like an organic thing I was here on this channel last month thinking if i could get free money or grants or even loans but I was very happy I was recommended to Agent Mighty He is a Professional Grant and Loan Agent, that helped me through my application and i was approved and funded through my checking account Am Just here to share my awesome feedback with y'all Have a successful business week Thanks for recommending him Comment from : Darlene Wilson

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