1. Hello, I have a small business online boutique, would the inventory be deductible? Or how does it work w the inventory?

2. Is the cost of listing items on platforms also tax deductible?

3. is the initial investment we put into the llc bank account considered income?

4. Your voice is distracting. Where’d you grow up?

5. Thank you Thank you !!!! <3

6. This was very good! Lots of really great tips. Thank you

7. If you’re a single-member LLC and travel but only deduct 50%, how can you do that without commingling funds? Same idea with how to do this with home office expenses like internet, heat, etc.?

8. Whats average cost for consultation with cpa for questions concerning starting up a business in a LLC??

9. How much can u contribute 401k for an Llc for one owner and one manager. Also what kind of 401 can it be deducted? Thanks

10. Informative video!

11. What about business apparel? Monogramming?
    Also, can I go paperless with my receipts and other documents for taxes or should I keep hard copies?

12. Is the TOTAL amount of the amount counted as deductions/write-offs? or just the TAX on those items? So if I buy a computer for $100 and the tax is $8 do I deduct $100 or $8?

13. I'm so confused about tax write offs. So all the stuff we write off, like travels, cameras, etc that has to do with the business, it just deducts the amount of taxes you would owe from what you earned? So after you write off those taxes, the minimum amount of taxes owed would be at 0 percent correct? They don't pay you money for all your losses if perhaps you're in the negative? And how about stuff like cameras, you buy it for the business, do you write off the whole 2000 dollar value of the camera, or just what you paid for it in taxes?

14. I have a LLC business (Golly Waffles) and I have my son working for me. What is the best way to pay him?

15. Thank you for all your information. Have you used TaxBot?

16. Is it acceptable to use my own personal account (Amazon, Paypal, etc.) to purchase business expenses with a business credit card?

17. Please answer my question, I own a company and am trying to prove as much income as I can, am I aloud to only deduct for my 1099 contractors? Or do I need to deduct for my company's supplies I only want to know what I legally need to deduct for. Thanks again!

18. I've forever had this question, meals…. So my husband is a painter therefore he is always at a different location every week or so, he is the only member of his LLC and at lunch time he always buys a meal. Is that considered a deduction or not? It's not actually travel but like I said he always has to drive to a different place. Any help is greatly appreciated….

19. Trump2020 brought me here

20. 1st video I'm watching from you. I started my business this year and I can't wait to watch and learn from more of your videos since my knowledge with laws, regulations and taxes is very low.

    New subscriber 🙂

21. Great information!

22. Ty very helpful

23. How does it cost start an LLC and maintain the status of it yearly?

24. I'm starting a Repair Business and I've been purchasing equipment to practice on my Craft to get better. Can the Equipment be tax Deductible?

25. I was reading that to take home office tax deductions the room has to be used entirely for business purpose. What if I'm purchasing a house for myself and two friends who are content creators (all working in the gaming/e-commerce industries) and our set up for live streams, video creation etc expands throughout both our dining/living room areas?

26. hi there. great information. How about if you have home office for an online shop and you need to repair/replace a sewer/plumbing pipes. Can it be deducted ?

27. Great video, very informative!!! New subscriber here 🙂 Question: In order to use the home office deductions you're mentioning, my business (sole propietorship) needs to be registered with my home address????? I was thinking to register my DBA, EIN, Sellers permit and business license, for my online business, with a virtual office address… (for the safety of my family… I don't feel comfortable using my home address since I know it's going to be public records!). Thanks in advance!!!!!!

28. I just use the standard mileage deduction because it's much easier and I don't have to track my mileage or keep receipts. Yes I have to give to my tax man the amount of miles driven for that car for the year. Having two cars is best and saying one car is full business driven and your other car is both business and personal driven. Yes I use both for the Standard Mileage Deduction on my taxes every year.

29. When do you take these deductions? Do you take these deductions when calculating your estimated income to calculate the estimated tax payments? I’m a little confused.

30. I can write off office furniture?

31. Great video

32. Thank you for the videos; question. If I am filing for my business and have pushed back it's formation date to JAN 1 2020 (to avoid double paying $800 in california), purchases I make prior to the formation (so today and moving forward til next year) still qualify to be written off for 2021 taxes? or do the purchases and expenses have to be after the formation date to be eligible to be written off? (thanks ahead of time for any expertise you can share). ~LM

33. when are business debt purchases deductible, in the year incurred or in the year the debt was paid off?

34. A little French going on. I like it.

35. Does Uber count as mileage that you can write off ??

36. This was SO freaking helpful!! Thank you sooo much!

37. Thank you!

38. Very helpful thank you

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