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Thank you. I’m self employed, I made roughly $78k last year, and the tax accountants just got my taxes done and told me my est. taxes are $12.5k, but like that’s roughly what I come out with if I have zero deductions anywhere, but… I have my personal and business deductions.
Yeah and Thank You! After watching at least 10 self-employment videos it was yours that answered my simple question. Your personality and smile even made it enjoyable to watch :) Im off to watch you business expenses video...
If I use my office for my 9 to 5, but also use it for my business 24 hours a week, can I write this off? It seems like it'd be a shame to not be able write off my home office taxes because I use the same desk for my 9 to 5.
Hi. If I have a full time w-2 job, but I just got a part time 1099 side gig, how do I figure out my estimated taxes? Obv I already pay on the w-2 income, so is the income amt I put into the 1040 ES JUST the self employment income? Or is it the full amt of the full time + part time income?
I have an LLC for healthcare consulting. I also own a rental property. Can I use my healthcare consulting LLC for my rental property? If so, would the rental agreement just be between the renters and my LLC? Thanks!
Ong thank you! So my food statements are ok to go without receipts? It all was bought through Apple Pay and in food apps usually but doesn’t go far year ago 😢
So I jus writing off gas, insurance and car repairs . I add up my insurance payments for the year, my gas and if I use my car 30% of the time then I use the actual method correct
And I too and blown away that you don’t have more likes and followers! Praying for a well deserved increase and support your way. Your content is ON POINT! B
I just came across your videos and mad I didn’t find you sooner! Your videos are awesome! So informative, short, personable, relatable, and to the point. Thank you so much! I’m now a subscriber and look forward to future content. Wishing you blessings in abundance!!
This is false. Per Small Business Jobs Act of 2010, use of cell phone can be deducted 100% without record keeping between business or personal use. This means IRS can not go through your phone bills to see how many minutes you spent talking to grandma vs your clients. Your business phone line is treated as 100% business use.
But what about a fluctuating income?????? Then is more complicated to estimate quarterly tax payments. Does the app you mentioned helps with the annualized method?
Im a full time employee receiving a w2, opened my own online store, and stream games on Twitch under my LLC. I use my room to broadcast! Am i able to measure my work room, closet for storage, and hallway to the restroom? I am learning how to do write offs. Love the vids!! Thank you
Hi. Thank you for your content. I’m locked in. Question…I am looking into an indy contract work in a venture that differs slightly from my previous venture. Would I need to file for a new EIN or ITIN if I filed as a disregarded entity 2 years ago and was inactive the last year? If I’m not mistaken, I’d for sure need to file for a new EIN or ITIN if I want to file as an LLC or S Corp, correct?
Great info! Thank you What if my total income includes a part time job with a W2, social security and pension and I make some money with a 1099 gig. Does that enable me to pay myself a low salary from the S corp?
Hello, I am filling out a CSU application for college and it is asking me to input my Parents' adjusted gross income (AGI) for 2022 and my Parents' untaxed income and benefits for 2022. I know the AGI can be found on line 11 of the 1040 form on the 2022 Individual Tax Return, but I want to confirm where I can find the amount for the untaxed income and benefits? Is it line 2a where it says “Tax-exempt interest” or is it line 2b where it says “Taxable interest”? Line 2a is blank, but line 2b has an amount. Which one would I put? Thank you!
My husband has a gospel group. Small business LLC. They were giving themself per diem checks for food and travel. We are just learning about tax write-offs. We keep track of all expenses already in case we get audited. They are on the road traveling every weekend and stop or go through a drive-through for meals. Would this qualify as a business meal?
OMG this is way over my head! 200 miles on my new vehicle. I am not paid to the pick up point or after the drop off which is where the mileage rack up it has to pencil.
