I just started my business in 2021 and can't afford your tax services yet but I severly need Lyfe accounting on my team and am looking forward to working with you in the future. I've told all my family & friends about your channel and we all are taking notes and making changes to become more successful. Thanks for helping.
If I'm trying to trade Forex full-time but I'm not consistent yet, would you recommend starting my business out as a Sole Proprietor first as opposed to an LLC? How should I navigate my business(es) if I not only want to trade Forex, but also have a RUclips business, as well as trading and holding crypto? Sole Proprietor, LLC? One business for all or multiple businesses? Thank you in advance.
Great video! I was recommended this page for its epic content by the owner of Station Surf Shop, in Rockaway Beach NYC. Looking forward to making my way through all the videos.
That is not the definition of depreciation. Depreciation is a reduction in the value of an asset with the passage of time, due in particular to wear and tear. You have to buy an asset in order to depreciate it. Property doesn't take losses, that "loss" was already spent when the owners bought the franchise, but they couldn't immediately expense it because they need to capitalize it and amortize over 15 years. It's just the recognition of an expense over time to conform to the matching principle which is the basis of GAAP accounting. The IRS depreciates assets faster using a method called MACRS which is by design so they can encourage investment in assets.
I just started my business in 2021 and can't afford your tax services yet but I severly need Lyfe accounting on my team and am looking forward to working with you in the future. I've told all my family & friends about your channel and we all are taking notes and making changes to become more successful. Thanks for helping.
If I'm trying to trade Forex full-time but I'm not consistent yet, would you recommend starting my business out as a Sole Proprietor first as opposed to an LLC? How should I navigate my business(es) if I not only want to trade Forex, but also have a RUclips business, as well as trading and holding crypto? Sole Proprietor, LLC? One business for all or multiple businesses? Thank you in advance.
Building welf is very important
Great video! I was recommended this page for its epic content by the owner of Station Surf Shop, in Rockaway Beach NYC. Looking forward to making my way through all the videos.
I'm glad you enjoyed it, we have a wealth of content, hope it helps you tremendously. Do you currently own a business?
Thank you so much for sharing!!
You are so welcome!
Welf growf is very important
Great Content!
Wondering who does his editing...???
Great information, thanks for sharing
Thanks for watching!
That is not the definition of depreciation. Depreciation is a reduction in the value of an asset with the passage of time, due in particular to wear and tear. You have to buy an asset in order to depreciate it. Property doesn't take losses, that "loss" was already spent when the owners bought the franchise, but they couldn't immediately expense it because they need to capitalize it and amortize over 15 years. It's just the recognition of an expense over time to conform to the matching principle which is the basis of GAAP accounting. The IRS depreciates assets faster using a method called MACRS which is by design so they can encourage investment in assets.
Lol … I LOVE tax tip #1!
Great content!
So, if they are paying themselves "$1", how are they living such extravagant lives? How do the pay home utilities, cars, gas, phone, clothing, etc.?
You can pay all those expenses with the business / assets under specific scenarios- remember, businesses get the best tax write off‘s
❤
How do I contact you for a consultation
Are you guys taking new clients? The number on google maps does not work.