If I own a cleaning service company and offer my services and advertise for, let's say, a week, all proceeds will be donated to St. Judes and gross 10k in that week and donate all 10k, which is under 60% of my company's taxes. Does that mean I get a 10k write-off? And would I collect the money into my account to donate, or have the customers write the checks out to the charity directly?
Tax planning often doesn't get enough attention. Utilizing tax-advantaged accounts and maximizing deductions are excellent strategies. Thanks for sharing such valuable information.
So I own an small business let's say a coffee shop, to decrease my taxes I hire a family member since this will increase my expenses is that right? Then by paying the taxes of that family member (which would be way less due the tax bracket) I get to pay less, do I make sense?
![How to Write Off Travel, TAX FREE [5-Day Challenge]](/img/1.gif)
If I own a cleaning service company and offer my services and advertise for, let's say, a week, all proceeds will be donated to St. Judes and gross 10k in that week and donate all 10k, which is under 60% of my company's taxes. Does that mean I get a 10k write-off?
And would I collect the money into my account to donate, or have the customers write the checks out to the charity directly?
Tax planning often doesn't get enough attention. Utilizing tax-advantaged accounts and maximizing deductions are excellent strategies. Thanks for sharing such valuable information.
Which country are you referring?
USA.
So I own an small business let's say a coffee shop, to decrease my taxes I hire a family member since this will increase my expenses is that right? Then by paying the taxes of that family member (which would be way less due the tax bracket) I get to pay less, do I make sense?
Can you take your EIN number to your w2 job in have ur w2 job pay you threw your LLC
🔥 Info
Can I work a w2 jobs in still have LLC
Ok I have a question, if you earn income from babysitting and are paid in cash, would I be able to open a solo 401(k) account with that money
Potentially if you report the babysitting income.
@@LYFEAccounting no I don’t because it’s only 150 weekly so how can I start reporting it so I can open a solo account
😁