Side Hustle Tax Strategies That Save You THOUSANDS
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- Опубліковано 12 чер 2024
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00:00 - Coming Up...
02:01 - Importance of Claiming All Income
04:10 - Explaining Home Office, Auto, and Electronics Write-Offs
06:01 - Benefits of Having a Separate Bank Account for Your Side Hustle
08:09 - Creative Write-Offs: Dining, Travel, and Training
11:11 - Utilizing Children in Your Business for Tax Advantages
14:04 - Using S Corps to Minimize Self-Employment Taxes
17:26 - The Role of Tax Advisors and the Importance of Engagement
22:05 - Solo 401k and HSA Contributions
25:02 - Getting Engaged in the Process
27:47 - Filing Business Owner Information Form to Fincen
Not everyone can or will be able to make sense of it on their own
Exactly. i hate em taxes
my advisor Linda Alice Parisi got things sorted at least to a great extent
Very informative. Thank you so much Mark!
Mark J Kohler, I subscribed because your videos are super cool!
Excellent video, excellent information (like always). Get more inspired and motivated every time listening to you both explain things so well. Mark Kohler + Matt Sorensen = better duo than peanut butter+ jelly
You're Videos are very resourceful. Am tempted to Test the Landscape!?
I am.
Some other channel says "the government is doing away with side hustles, said something was enacted on March 11th 2024?" Never heard about this. Any update on that Compliancy? registration for those with LLCs? Great information.
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!??
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Devion Jane
I agree just reached my goal of $500k yearly trade earnings. Setting realistic goals is an essential part of trading..
Please educate me, i'm willing to make consultations to improve my situation,
Her technical analysis is excellent and her interpretation/projections of the market are so accurate I sometimes ask myself is she is a human The point she is the perfect trader to follow for advice and guidance
Wait is this the same lady? That helps me with 17k investment “wow" such a small world..
Is having an ADU on your primary residence a side hustle? I started building it 3 years ago and plan on renting it out soon. Can I expense all the receipts going back to the beginning of the build?
I'm a bit confused on the BOI filing requirement. I'm a sole prop, not a LLC or SCorp but I do have a EIN for my sole prop. Do I need to file the BOI?
I filed my 2022 tax returns as "single" but i should have filed it as divorce. Can i still amend it so i can get better deduction and maybe a refund?
So I’ll am retired and I wanna start a side hustle. I was a network technician for AT&T for over 20 years and so I have a lot of technical activity and so I just wondered what I could do and set up LLC.
Technical consultations comes to mind. Good luck and thanks for making T work. Been using them for years.
Uber driver can claim a home office? Not sure about that.
29:00 I thought that reporting/registration requirement for LLCs got suspended by court order?
Yeah I just researched it. Some States won the law suits. It was Unconstitutional! However it's not for all States! Yeah very Ambiguous in Nature. The Law in the State seems to Rule the Law of the Land these Days. I don't Understand this Three Ring Circus myself as a Business Owner and Filing anyways to avoid the Consequences!
yes, we had the same question on that LLC reporting thing - not sure what is going on
ggs max
.
It's a lie that we must report money earned at a side hustle as "income". I never have, ever, and never will
Where's your source?
@@colinsmith5597 🤣🤣🤣spoken like a true bootlicker.
I'm favoured financially, Thank you Jesus.$32,000 weekly profit regardless of how bad it gets on the economy...
Do you invest with a professional broker?
I'd appreciate it if you show me how to go about it.
I'm 37 and have been looking for ways to be successful, please how??
when someone is straight forward and good at what he does best. People will always speak for them. For me I would say give Mr Bernie a try and you will be happy you did
He's definitely a top player in the trading world. His ability to make successful trades is really impressive.
After i raised upto 425k trading with him, I bought a new house here in the states also paid for my son's surgery (Bernie ) glory to God.