What is a Tax Write-Off and Tax Deduction for Small Businesses?

Loved

It was a great video

Man I'm a new small business owner, I appreciate your time for this it help me. Help the newbies as us , thanks!

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Not super clear. At a certain point he JUMPED to different scenarios that don’t apply.. smdh..

Oh I'm liking commenting and subscribing

Thanks for the breakdown! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?

This helped out tons man thank you!

Holy Bot-net, Batman! What is this comment section? Anyway, good video btw.

So helpful, thank you!

Trying to run a business is tough enough without inflation throwing curveballs. Costs are up, prices are tricky, and who knows what tomorrow will bring? Planning for the future feels like gazing into a crystal ball.

Good

As a teacher, if we taught students about taxes, they just wouldn’t pay attention and it would be time lost anyway. Some students would, but majority would not understand the context. I appreciate the video for people like myself who now want to learn!

thank you so much! i liked and subscribed, stay blessed!

Hi can you do a 2024 update? I was told we a write off food anymore

Nice explanation

So I if I start a business, let’s say for video content. And I am working a separate job as a W2 employee, let’s say a bartender. Could I use those business deductions on my W2 taxes from bartending?

Does this applies fot sales tax?

Thank you this was ultra helpful!

Learn something new everyday 👍🏾

Bro your beats be slapping. Got me free styling throughout the whole video

awesome!

Answered many questions that I had in mind. Thanks for givin us that info

Great video

Great video. Thank you.

Wow, I never knew all this! Great info. Thank you for making it so easy to understand.

This is an amazing Information the only thing I can't undestand is if every bussiness do their income statement every expend it is included already on it, so taxes will be base it on the income before taxes depending the scale taxable. is that correct. Sorry I am new in EU I would like learn as much as possible about taxes.

Wow ur so good! Love this class

How much of your mortgage can you use as a deduction? I saw online $5 per sq ft up to 300sq ft. Is that monthly? Or that means you can only deduct $1,500.00 for the year?

I had no idea how taxes worked and I just learned so much thank you !!!! ❤️

you're so cute

Thanks great video and help..cut the music though, makes it hard to concentrate..this is serious business, if a person needs music to keep watching you or to stay focused and interested I your I video and wisdom,then they dont deserve your great knowledge!!

❤Thank you Soo much for all this clarification. - hELLA HING
My boy and I have been paying out of pocket for over 5 years. We are deciding if we should become a Business and LCC.

Karlton. You should have been a math teacher or life teacher. You could have taught future tax payers life skills about taxes and the IRS. One of certainties of life.

Started a small business inside a fitness center as massage therapists and my husband to but then I’m wondering about maybe everything should just go under me or should everything under him he has a better credit score and doesn’t have as much tax debt from previous years? We are married file, single I believe.

You’re amazing person. I love your passion and hand, gestures and release getting into it right away. You’re obviously very knowledgeable and stylish. I love your pumpkin 🎃 if you have a pump in the background that means you must like Halloween so then I like it more…

Thank you 🙏🏼

Wouldn’t you be closer to like 22% tax bracket if you only made 50k?

Brackets are a bucket you fill. You reach the bracket/fill line only once you've hit it BUT only every dollar past THAT line is taxed at that rate. So first 10K nobody, even billionaires, don't pay tax on. The rates only apply to the amount of money in that bracket. Please remember this. People like to protect wealthy people by saying they pay a huge amount of taxes but that just isn't the case - they pay the same as you, and as this video proves, less on their larger incomes than you probably (write off everything so they can fall under the 10K income personal).

I’m confused why everyone’s talking about credit scores when that’s not even the video ☠️

amazing fuckin video

Awesome

Great video. Highly informative

How does it work if you have a primary job earning a certain amount and a small business you do on the side, do the tax write offs chip away at both at the same time or only for the small business taxable income?

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Karlton thank you!!

Thank you very much this was very well explained.! Keep up the good work!!

Amazing knowledge learned. Thank you !

Great put together video , thank you 🔥👍