Thank you for watching! Which tax break was your favorite?
@mymichel291
2 жыл бұрын
First time to your channel. Great content 👌🏽
@FernieKisses
3 жыл бұрын
This was THE BEST! Quick. Fast. Simple. 🤩
@LYFEAccounting
3 жыл бұрын
Glad it helped!
@rtanaka
3 жыл бұрын
Excellent content, and fantastic production quality. Keep it up!
@LYFEAccounting
3 жыл бұрын
Thanks Ryan! Anything particular you'd like us to discuss next?
@rtanaka
3 жыл бұрын
@@LYFEAccounting I'd love to see a video about how your team would bill potential clients and what we should expect to pay for accounting services :)
@LYFEAccounting
3 жыл бұрын
@@rtanaka we have a video talking about CPA services tomorrow!
@rtanaka
3 жыл бұрын
@@LYFEAccounting Awesome! Thank you.
@rtanaka
3 жыл бұрын
@@LYFEAccounting Btw, I can't get notifications for comments/ responses in threads like this one. Did your team get a notification I commented or did you just look back since I commented on the newest video?
@gloriadelpozo5451
2 жыл бұрын
Excellent content and clarity of your explanation :)
@komradkyle
3 жыл бұрын
Basically your PMI and Mortgage interest + IRA and HSA + Daycare have to be greater than 24k for the itemized deduction to make sense vs the Standard? for married filing jointly
@gwiszitstaxtime7293
2 жыл бұрын
The IRA and the daycare is not included in the itemized deduction. Your state and local taxes paid into the system are.
@crazya0905
2 жыл бұрын
Daycare is a credit
@gwiszitstaxtime7293
2 жыл бұрын
@@crazya0905 Daycare is a tax credit yes. But it is not included as an itemized deduction.
@crazya0905
2 жыл бұрын
@@gwiszitstaxtime7293 correct corect
@seanstandberry4082
3 жыл бұрын
Very true
@LYFEAccounting
3 жыл бұрын
💯
@beyondartists7641
2 жыл бұрын
Very professional and informative video.
@rwbye
3 жыл бұрын
Thanks for your thorough information !
@LYFEAccounting
3 жыл бұрын
Anytime! Thanks for watching.
@RobinSmith-xm2yg
3 жыл бұрын
Pretty awesome information and clarity. Question: Can a homeowner claim tree removal expenses for safety hazard purposes? Ex. Decaying tree of fallen tree branches causing roof damage and endangering occupants of property? Total cost of tree removal $4000 from a licensed contractor.
@gwiszitstaxtime7293
2 жыл бұрын
The first question that you want answered is…….is this your main residence or is this for your rental property.
@marygracebabanto7418
2 жыл бұрын
Thank you for the info
@janine2317
Жыл бұрын
Great job!
@eth626
3 жыл бұрын
very helpful thanks!
@LYFEAccounting
3 жыл бұрын
You're welcome!
@thomasjust2663
3 жыл бұрын
Very informative video, thank you!
@LYFEAccounting
3 жыл бұрын
Glad it was helpful!
@pattoney8669
2 жыл бұрын
Great job!! Question about PRO TIP discussed at 02:36. Houesehold expenses for cooking or cleaning as qualifying expense. Facts: A taxpayers family has an older child (18-19 year old) that 1. lives in taxpayer's home; 2. the older child files their own individual tax return, and 3. the older child is not considered a dependent on the taxpayers return. Question: Can the taxpayer get qualifying expense on that credit if they pay the older child for cooking and cleaning services to care for younger siblings (under 13). Thank you again.
@YanilleCastillo
2 жыл бұрын
Great content and information thanks for your wisdom and time
@fatula5302
3 жыл бұрын
Super helpful video!!
@LYFEAccounting
3 жыл бұрын
GREAT!
@s.j.5810
3 жыл бұрын
Thanks bro.
@LYFEAccounting
3 жыл бұрын
Any time
@simonemorgain5928
3 жыл бұрын
You said $300 charitable deduction, without itemized deductions, in 2021. Did you mean during 2020?
@gwiszitstaxtime7293
2 жыл бұрын
it's 2021, this current Tax year that is about to end. :)
@claudiamorales3605
3 жыл бұрын
Very good job
@LYFEAccounting
3 жыл бұрын
Thank you so much 😀
@ninagoodday2133
2 жыл бұрын
The medical deduction is only if itemized, correct?
@Jduenas41
3 жыл бұрын
Thank you bro, Good info.
@LYFEAccounting
3 жыл бұрын
No problem 👍
@m.m.m.c.a.k.e
3 жыл бұрын
Great Content
@LYFEAccounting
3 жыл бұрын
I appreciate that
@garmontharvey1623
3 жыл бұрын
does number 12 only work for itemized deductions?
@M_EYESTORY_OURSTORY
3 жыл бұрын
I'm trying to donate a lot of non cash items up to about 4000 my ? Is how much I get back
@LYFEAccounting
3 жыл бұрын
Great to hear. Donations are a deduction and simply reduce how much of your income is taxable.
@_oemomar
3 жыл бұрын
Thx young kyng
@LYFEAccounting
3 жыл бұрын
thank you!
@angelface4870
3 жыл бұрын
I am a sole proprietor how do I categorize the funds that I have deposited from my personal account to my sole proprietor business account to keep my business afloat?
@willoughbykrenzteinburg
3 жыл бұрын
They are just capital contributions.
@angelface4870
3 жыл бұрын
Thank you.
@baovu714
2 жыл бұрын
Everything phase out for high earners. You don't pay your fair share says the government. Sheesh.
@Im_a_therein
3 жыл бұрын
How do I hire you?
@LYFEAccounting
3 жыл бұрын
:) What do you need help with?
@Im_a_therein
3 жыл бұрын
Tax planning and financial planning. Trusts and such.
@tonybreez2480
3 жыл бұрын
Question if your business helps businesses gain profits how come you claim this video is for entertainment purposes only shouldn't you stand by your work
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