This information is a golden nugget. I can’t write fast enough. So I am going to put the pen and paper down, listen, get an understanding then watch it on repeat! Thank y’all for sharing this information!!!
Just paid my taxes. Uugghhh. 3 years into my business and I haven’t had to pay until this year. I just subscribed to your channel so thanks for starting my education in getting deductions. With paying your children, does the IRS allow this with grandchildren as well?
I'm sooooo glad that I found this. All these questions I have been pondering. Especially the part about paying my kids for helping or working for my business. I was just about to call my own CPA and inquire about this. Thank you so much Carter for all this great information.
key is ordinary and reasonable part of the business deduction in accordance with the tax law.... also what kind of business are you discussing if your spouse is a adm- filing papers , etc...... may have limitations in terms of the fact they don't know anything about the business- they just file papers--- perhaps you should give them a title and train them to make your case more solid in the event of audit. the key is make it reasonable and also take personal vacation during the year as well and go out to eat on personal basis as well. don't write off all your vacations and dinners out- with spouse and write off 1/2 your gross revenue- that's a no no..... i would go more with conserve deduction--- just to balance it out with all my other solid business deductions -----
As a grandparent with a LLC, I am a digital creator and create custom apparel. My grandchildren ages 3 & 7 are my fashion models, am I within IRS guidelines able to hire them?
This information is a golden nugget. I can’t write fast enough. So I am going to put the pen and paper down, listen, get an understanding then watch it on repeat! Thank y’all for sharing this information!!!
Glad it was helpful!
Just paid my taxes. Uugghhh. 3 years into my business and I haven’t had to pay until this year. I just subscribed to your channel so thanks for starting my education in getting deductions. With paying your children, does the IRS allow this with grandchildren as well?
I'm sooooo glad that I found this. All these questions I have been pondering. Especially the part about paying my kids for helping or working for my business. I was just about to call my own CPA and inquire about this. Thank you so much Carter for all this great information.
Glad it was helpful!
Not in a relationship but I definitely need the content as a aspiring business man
Thank you’ll I appreciate you and your guest!
Our pleasure!
So much rich information and very mind blowing. Carter is exactly what I need. Thank you for sharing your insights ❤❤❤❤
This is soooogood!
Awesome!!
Thank You for what you do here on this channel !!!
Our pleasure!
This is such great info. My husband isn’t listed as an owner of my business. Do I need to do that in order to take advantage of these deductions?
I heard the answer in the video, thank you!
Excellent show. Great information!!
Glad you enjoyed it!
This was sooooo good!!!!
Awesome, thanks for watching!
thank you for this. very good content
You're very welcome!
Does this still work if I hire my nieces and nephews or a friend?
hence why tax professionals are needed----- and accountants.
key is ordinary and reasonable part of the business deduction in accordance with the tax law.... also what kind of business are you discussing if your spouse is a adm- filing papers , etc...... may have limitations in terms of the fact they don't know anything about the business- they just file papers--- perhaps you should give them a title and train them to make your case more solid in the event of audit. the key is make it reasonable and also take personal vacation during the year as well and go out to eat on personal basis as well. don't write off all your vacations and dinners out- with spouse and write off 1/2 your gross revenue- that's a no no..... i would go more with conserve deduction--- just to balance it out with all my other solid business deductions -----
As a grandparent with a LLC, I am a digital creator and create custom apparel. My grandchildren ages 3 & 7 are my fashion models, am I within IRS guidelines able to hire them?
BARZ
Is there a limit to the amount of time you can be away?
Solo 401K, can a person that is retired but have started a business after retirement, also start a Solo401K?