@@LYFEAccountingso if i am a self employee i have to convert one of my rooms to sn office to take advantage of the standard milage bc traveling from home to work is not deductible?
With 3 more days until tax deadlines, I owe for the first time in my working life. I'm confused as to why I owe so much. So now I'm seeking support to lower or reverse my large amount. This is the challenge in itself.
Love the content, BUTT… a video dedicated to just anything doing with a vehicle for business purposes, would be very beneficial to everybody. I’ve had numerous CPAs, even a tax attorney, tell me something different on vehicle deductions. And it centers around ownership of the actual vehicle and if ownership matters in regards to taxes
Nah you just got a new subscriber! This video was so simple and easy to understand. Love the gym loophole concept! Congrats on your success brother. Keep going!!! You inspire newbies like me. By this time next year, I’ll try to come back with an update lol
So glad I found your channel. Just started a job with an sole proprietor who uses his cc and debit card for both personal and business - trying to wade through the 100s for transactions to see what I can put to biz vs owner's draw. thank you so much.
I bet most people will think that all these "write offs" are same as tax credits, but essentially all these are pretty much are 10-20 percent cashbacks(and only if you are profitable), so when dude buys Tesla for 100k and writes it off completely in a first year he essentially buys it for 90-80k if he is profitable.
I'm so thankful to have come across this video. Most videos on this topic always end up sounding like a word salad- not this one though. You've definitely earned my subscription. Please keep making videos like this!
Thank you so much for the extremely helpful information! You guys will be my Top 1 tax prep partner once I go full speed towards my dream business. New subscriber here!! 🙏👏❤️
If you have a full-time job (W2) and open a small business on the side to work on the weekends/part-time, will there be any restrictions as to what you can write off, or can everything you are writing off in this video be written off?
Love your content! I have some questions about a UA-cam business idea and it’s potential deductions. Is there someone I can bounce questions off of? If not you had, do you have a referral.
Lyfe accounting i missed you on this channel can you do more videos on this channel its been so long. Also you did 2022 2021 and 2023 is there any grants for 2024???
Do you think military members can write off gym memberships? Since they're required to stay physically fit for employment... There are gyms on base but what do you think?
So I am a professional boat captain. Every 2 years I have to do a physical to make sure I am in shape to be able to perform the nessesary duties that I am tasked with. Would a gym then be considered a write off?
I’m 21 and I go to trade school For Collison Repair and I’m getting my LLC pretty soon so I can have my Own shop/Business but all this is kinda confusing and I have a lot of questions, but I was asking how can I reach you to discuss a few things?
Bro am really confused if I buy a house from my money that is my income from my business that will be a large amount and it will get taxed a crazy amount too how can I reduce it
when you drove to your office isnt that a commute? how is that a write off.. this is where taxes start to sound like you get to write all of this stuff off but actually you dont...
![14 Biggest Tax Write Offs for Small Businesses! [What the Top 1% Write-Off]](http://i.ytimg.com/vi/5YggWhLeckM/mqdefault.jpg)
![14 Biggest Tax Write Offs for Small Businesses! [What the Top 1% Write-Off]](/img/tr.png)
Lol, record everything you do as UA-cam content, and it all becomes a business expense. Genius. Pure genius.
I like this series “day in the life of a tax write off-er”
..2 Beatles songs combined:
1), A Day in the Life
2), Tax-man
First few seconds were a game changer for me don’t eat, don’t go, don’t send if it’s not a tax write off. I need to try that thank you so much.
The BEST quick video on tax write-offs I have ever seen. Great job!!
Wow, thanks!
@@LYFEAccountingso if i am a self employee i have to convert one of my rooms to sn office to take advantage of the standard milage bc traveling from home to work is not deductible?
My wife writes off her gym membership. She runs a large gymnastics program and needs to stay in shape.
Love your content
That's still more of an expense for personal benefit.
@@mtigress4589says who? You or the IRS?
Sounds like a bad idea
That was supper helpful. Just being able to see deductions in action makes it alot easier to understand. Thanks!
With 3 more days until tax deadlines, I owe for the first time in my working life. I'm confused as to why I owe so much. So now I'm seeking support to lower or reverse my large amount. This is the challenge in itself.
Great job! Thanks for sharing great tips, I am 2 years in to my electrical contracting business.
I just became self-employed and this is by far the best video I’ve seen on how to properly get write-offs!
Demonstrating the actual expenditure and then explaining it permitted better comprehension and absorption of these tax areas. More please!
Subbed 😎
Your videos have a good pace and have been very helpful in helping understand my responsibilities!
Thank you
Love the content, BUTT… a video dedicated to just anything doing with a vehicle for business purposes, would be very beneficial to everybody. I’ve had numerous CPAs, even a tax attorney, tell me something different on vehicle deductions. And it centers around ownership of the actual vehicle and if ownership matters in regards to taxes
I liked the day in the life and business strategy in this video, very informative
Very informative and east to follow, Thank you!
This video is so well done and incredibly helpful!! Well done man- seriously. Thank you
This guy is the conductor of the, “Value Train‼️” Thank you for such great content
Love this!!!! Would love to see one for work travel
Nah you just got a new subscriber! This video was so simple and easy to understand. Love the gym loophole concept! Congrats on your success brother. Keep going!!! You inspire newbies like me. By this time next year, I’ll try to come back with an update lol
Black and white advice done very intuitively! Well done
These a great, useful tips! This is perfect I formation to share with my bookkeeping clients. Please do continue sharing tips like these!
I love your videos! Straight to the point and easy to follow. Thank you! 👏 👏
Thank you!
So glad I found your channel. Just started a job with an sole proprietor who uses his cc and debit card for both personal and business - trying to wade through the 100s for transactions to see what I can put to biz vs owner's draw. thank you so much.
Oh, man! Welcome back. We missed you!
I bet most people will think that all these "write offs" are same as tax credits, but essentially all these are pretty much are 10-20 percent cashbacks(and only if you are profitable), so when dude buys Tesla for 100k and writes it off completely in a first year he essentially buys it for 90-80k if he is profitable.
I love this video!! Love all the visuals and practical info--- helps me remember the details about tax write-offs!
I'm so thankful to have come across this video. Most videos on this topic always end up sounding like a word salad- not this one though. You've definitely earned my subscription. Please keep making videos like this!
I love wifey at the end!😂😂😂❤❤❤❤❤❤❤❤
Thank you so much for the extremely helpful information! You guys will be my Top 1 tax prep partner once I go full speed towards my dream business. New subscriber here!! 🙏👏❤️
Great advice✌️
If you have a full-time job (W2) and open a small business on the side to work on the weekends/part-time, will there be any restrictions as to what you can write off, or can everything you are writing off in this video be written off?
Great video, loved the hack with the Gym included in the office membership +++
Really enjoyed this format!
Great content brother, looking forward to using these gems
Great video. Love the concept of this method of education - practical application! More of these, please.
More to come!
Great video on tax
Smart planning dude. I love it.
Great video. Keep them coming.
Sir, you are amazing. Thank you for this video
Good video thanks Bro
This was super clever!!
I want you guys to do my taxes. I don't think other accountants are taking advantage of these strategies.
Love this video!!
Great challenge! One you can expound on as you make the challenge more...challenging...🙄
This is great!!!
Great Insight and valuable nuggets,thanks for sharing 🙏
love this video.... please make more like this.
This video was very helpful
Great challenge!!!
You have a great endgame tactics.
Great video thanks for sharing.
Great video.
Great Video !!!
Great video🎉
Great info 💪🏾
love this!
I really enjoyed this!
So how do you do it. Do you keep like the physical receipts? 🤔
Love your content! I have some questions about a UA-cam business idea and it’s potential deductions. Is there someone I can bounce questions off of? If not you had, do you have a referral.
AWESOME !!! Huge TY
Lyfe accounting i missed you on this channel can you do more videos on this channel its been so long. Also you did 2022 2021 and 2023 is there any grants for 2024???
Great info
Love it!
Great info! Are meals associated with business travel 100%?
my business consists of a mobile service and I have a store front, can I count the miles from the office to the clients house?
Do you think military members can write off gym memberships? Since they're required to stay physically fit for employment... There are gyms on base but what do you think?
So I am a professional boat captain. Every 2 years I have to do a physical to make sure I am in shape to be able to perform the nessesary duties that I am tasked with. Would a gym then be considered a write off?
Hello,
Do you contract for speaking engagements virtually for business cohorts?
Great information Sir,thank you.
If, as you suggest, I write a note on the business meal receipt & scan it to the cloud, do I need to retain the hard copy of the receipt?
What if your business meals are at your home office? Example you order food for delivery and then do a business zoom meeting
$50 for lunch?! Jeepers cripes.
Do you have a video on how to invest your personal money into your business the correct way. If there is a correct way.
I dont understand how he wrote off the gym expense? How did he do that and what are some other strats?
Love this
What if your driving somewhere to deliver something from your business to a customer is that a write off as well
You still write off the miles even if your company already pay your car loan?
Work glasses 😂✊🏾
I totally loOove your content. So informative, creative, and innovative. I would love to definitely invest in Lyfe Marketing.
What if I work from home as a single member LLC owner and need to go to a coffee shop or restaurant to do administrative work (non client related)
What building is that? I work in Atlanta. Didn’t think know you can rent an office space for $500 a month.
can you write off assignment contract ?
Want to understand more
damn!! good stuff!
I’m 21 and I go to trade school For Collison Repair and I’m getting my LLC pretty soon so I can have my Own shop/Business but all this is kinda confusing and I have a lot of questions, but I was asking how can I reach you to discuss a few things?
soo.. what work did you get done on this day?
Could you explain more in to this 3:22
hi new subscriber here. Thank you
Do you go by 'jojo' too
@@Eliqueme Lol some people drop it to jojo, lol
Please when can a new struggling and with no profit business file tax
One of the best videos out on UA-cam right now! Will be sharing with my family! 🫡
1x(10/4/24)……done thank you
Bro am really confused if I buy a house from my money that is my income from my business that will be a large amount and it will get taxed a crazy amount too how can I reduce it
Look into getting a business that needs a Airbnb so you can use it as a write off for the business
Are 1099 workers eligible for these tax write offs?
Yes!
Great question. 1099-NEC. Using TurboTax this year. And I'm not sure why I owe so much. Trying to find ways to lower the amount.
Is there any way to contact you about business? (this is not spam lol)
when you drove to your office isnt that a commute? how is that a write off.. this is where taxes start to sound like you get to write all of this stuff off but actually you dont...
The system is so fd
I like it
Perfect
💯👌🏾💯
🎉🎉🎉
This is what BLK youth should be learning INSTEAD of trying to be "aspiring rappers" 🤦♂️👍
Ur comment and thoughts are not needed
@@bdm8960 You need a REALITY check❗To me it seems you're in Denial. Aspiring rappers are RUINING the community. They need to GO 👎👎
W
💯