Every Small Business Tax Write Off for 2024
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- Опубликовано: 30 май 2024
- 101 tax deductions, write offs, and tax credits for small businesses, startups, contractors, and entrepreneurs.
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Outline:
Intro: 0:00
A-C: 0:56
D-F: 3:40
G-I: 5:13
J-L: 6:36
M-O: 7:09
P-R: 8:07
S-U: 9:26
V-X: 10:23
11 Things Not Deductible: 10:37
WATCH THIS NEXT: 11:18
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
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Video name should be " How to completely finesse the IRS". Love it!
Great video. I like this format! - here's an Idea. Writing an Ebook of a more "simplified" version of the current tax code. I know its big but I'll be willing to pay Top dollar for that.
Great idea. Will bring it up to the team. 😄
GREAT IDEA
Me too!!
Just started my LLC this month and this channel has helped understand what steps I need to take to be successful. Large lists help in showing a big picture when it comes to deductions. Then your more in-depth videos help break them down. Thank you so so much
Great late evening, LYFE Accounting family! You all are providing us with such an immense amount of valuable information/content... We thank and appreciate you all for your time, dedication, and consist uploads. Continue to be a guiding light for those of us who still remain in the dark.
Our pleasure!
OMG I cannot thank you enough for taking the time to do this video! I loved this! Every time I watch your videos, my eyes open wider and wider and I become so much more knowledgeable. May God bless you so much and give you amazing RUclips ideas Keep them coming
It’s Tax Time for my LLC!!!! So many deductions, great video.Thanks Bud!
Love it. Keep ‘em coming
This is really important information ℹ️!!! Thank you!!!
Glad it was helpful! Thanks for watching.
Wow!!! This is an amazing video that all business owners need to watch 😮 im blown 😳 away thanks for this information.! Oh by the way you got a Sub from me great work and thank you again. 🙌🏾
Another great video!! Keep them coming
Thanks! More to come!
I just want to say how much I appreciate the information given. It has greatly helped me. Thank you so much.
Excellent Video!!!! Thank you
Wow this is very informative I didn't know half of these things can be written off
Unreal value! Thanks for the excellent video.
That's the goal. My pleasure.
Gratitude 👁♾
Wow.. this was awesome. Thank you!!
Glad to help!
This is a great video.. Thank you
Thanks 🙏🏾 ❤
Great information, Thanks
Anytime!
Thanks again
Thank YOU for supporting.
Great video guys
Thanks!
thank you for great video, questions, do you know if total medical expenses can be tax deduction?
Nice video
Invaluable info. Tu.
Anytime. Thanks for watching.
Nothing but GAME
Y'all better make sure to be taking notes
Easiest subscribe button I’ve ever hit
What deductions are ok for a non-profit?
I'm a new small business owner and when it comes to taxes I want to ensure I'm choosing the correct tax professional. Would it be unrealistic to look for an tax agency/professional that has personnel that has an understanding of my specific business? Thanks for the videos
What about small business loans? We are a lending marketplace and offer a multitude of different loan programs on our platform here. Many equipment finance and small business loans we close are to try and take advantage of tax benefits when in the 3rd and 4th quarter
I am starting up a DJ/sound production LLC. Can and do write off business expense for equipment I need to run the business? How do write expense I for equipment I already own and want to use in the business?
QUESTION: Would airplane flight training (~$100k) be deductible if I was able to work as a contract-for-hire pilot (1099, or billed through the LLC); and not as an employee at an airline?--Could I roll-over the remaining deduction for 3 years?
First 🏆
Lmfao damn you beat me!!!!
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What kind of proof do I give my cpa? Receipts? Credit card/ Bank Statements? Do I need to write next to them what the expense is or just go through it with them?
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What if you own a business but also work from home?
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I have a new small business that doesn't bring in a lot of income..maybe $1000 gross a year. Am I allowed to take heavy deductions like that if it is not making a lot of money? I use my office space, car, equipment (printer, internet, phone, utilities) to help run the business. Having such a low gross, I don't want the IRS to see my business as a hobby... because it isn't. Will the deductions make my business see a net loss if the deduction is over $1000? My business makes about $400 net profit vs the $1000 gross. But will the deductions make my business see a net loss?
Hey! When your deductions are higher than your income for the year you can have a net operating loss. You would use a net operating loss by deducting it from your income in future tax years.
@@LYFEAccounting So I only deduct up to a net loss of $0 and roll over the deductions for next year? Could I use all of the deductions that year if I wanted to?
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Can i like this video 5000 times please?
I wish 🥺 Thanks for supporting.
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I put a great sum of my business's money into cryptocurrecy as an invest for my business. Is that a possible tax right off?