Tax guy asked me to keep a “log” in my truck. Thought was interesting
@rodinymoise8248
Жыл бұрын
can you please do a video on tax strategy using RV as Airbnb
@SeanTheDon17
3 жыл бұрын
Step by step guide to save money. It doesn’t get any better than this!
@LYFEAccounting
3 жыл бұрын
Glad it was helpful. Thanks for the support.
@haylischmitz7165
6 ай бұрын
loving these videos! Thanks for being helpful and nonjudgemental :)
@saturnview4996
2 жыл бұрын
You can start watching from 4:00
@antont5633
Жыл бұрын
It’s only 16 minutes. The first 4 min actually put me in a better mood to do my late taxes 😅
@nicoleenesse
3 жыл бұрын
I love this! Thanks
@LYFEAccounting
3 жыл бұрын
You're so welcome!
@f-j-Services
Жыл бұрын
About time someone explains this! 100% used on the farm account!
@dom3372
Жыл бұрын
He is watching
@f-j-Services
Жыл бұрын
@@dom3372 Always watching. Eyes everywhere. . .
@rogerpolidor428
3 жыл бұрын
Thanks for this presentation!
@LYFEAccounting
3 жыл бұрын
Thank you for your comment!
@DianeDesignGifts.
2 жыл бұрын
I'm a proud subscriber! I'm so happy that I've been watching you 😊 you're the best! I want to have you around always. I'm just starting my gift basket & gifts business. I can use all the help I can get from the right people that knows what they are talking about and that's you! God bless you and your business. I can't wait for you to take on new clients. I'm living in NYC now..."If I can make it here I can make it anywhere!" :-)
@kelliewinkel7063
2 жыл бұрын
Everyone needs to watch this video. It is so helpful. Question. Our accountant will not write off our home office deduction because my husband is an officer of the corporation of an s-corp. The keyword is s-corp. He said if he was an employee he could. Is that correct?
@lalainetorrenueva4772
3 жыл бұрын
Appreciate you for sharing valuable info . Thanks man and more subscribers for you
@LYFEAccounting
3 жыл бұрын
Thanks Lalaine. You are appreciated!
@MarayahYasharahla
7 ай бұрын
THANK YOU
@taherali75
3 жыл бұрын
Love the video! What do you mean by investor?
@margaretburtch2683
2 жыл бұрын
love your info need you to do my taxes.
@Tony-zt8vz
9 ай бұрын
🔥Young man, 🔥!
@erickeddings
11 ай бұрын
Great Video. Are you licensed in Nevada?
@hanoverhome8727
2 жыл бұрын
Thanks Sherman for this information. I'll like you to make a video on how a small non profit business can file our own tax and how individuals can file their own taxes too. Those of us that are older are not very tech-savy but if we are shown, we can do it. I have a small 501c3 business. I watch your videos and learn a lot from them. I am looking forward to a video on how to use tax filing templates if you don't have one already. God bless you.
@MrliquidDj
Жыл бұрын
Thank you!!!!
@jpatt4512
3 жыл бұрын
When will you guys be taking on new clients?
@LYFEAccounting
3 жыл бұрын
To be determined. We are focused on our courses at the moment. Stay tuned.
@bornagain6665
3 жыл бұрын
Man I love yall how yall break it down make it sound so simple how do I get in touch
@LYFEAccounting
3 жыл бұрын
Thanks for the support. We are currently not accepting clients at the moment, but feel free to reach out via our website.
@MrMarkwill62
3 жыл бұрын
Another great video... When are you guys going to start accepting new clients... Like me😊
@rashara81
2 жыл бұрын
Great video😊
@LYFEAccounting
2 жыл бұрын
Thank you 😁
@selfmademaninaction8720
2 жыл бұрын
Hi I love your explanation, by the way, may I request could please make an explanation videos regarding what to deduct on taxes for wages earners like for examples: auto loan, loans, auto insurance, boat insurance, medical insurance, dental insurance, vision insurance, and expenses of gas for car from home to work or work to home. Man necessity is considered as necessary in order the man can go to work to generate income. Please do me a favor I’m so interested on this. Thank you in advance Sir.
@LYFEAccounting
2 жыл бұрын
Do you own a business?
@rogerpolidor428
3 жыл бұрын
Interesting subject!
@LYFEAccounting
3 жыл бұрын
It really is!
@GojiCenter
3 жыл бұрын
this is dope. Thats why we spend like crazy just as long as it benefits the biz
@LYFEAccounting
3 жыл бұрын
There you go! 📈
@pamelawashington7540
2 жыл бұрын
Very informative
@shermanstandberry
2 жыл бұрын
Glad it helped, Pamela
@Nking300
2 жыл бұрын
Dope 🔥 content
@nkemanizor5388
3 жыл бұрын
Excellent video, but I thought using a vehicle for advertising did NOT qualify as a business purpose? If it does, what % have you seen clients successfully claim to take advantage of bonus depreciation to write off the purchase of new vehicles (>6000 lbs)? Thanks!
@LYFEAccounting
3 жыл бұрын
Hey Nkem, yes many people use a business vehicle as an advertising expense. Sean did a great video on this topic here: kzitem.info/news/bejne/s6KnunqDbpOTaI4&t=
@alvarorangel3509
3 жыл бұрын
And how do I prove that my meal was used as a “business meal” and same thing for a vacation. How do I prove that while I was on vacation in Florida I was looking at real estate?
@LYFEAccounting
3 жыл бұрын
You document what was talked about and you confirm meetings via email/text prior to doing so.
@IAMJESSIEMAI
2 жыл бұрын
Love this!
@shermanstandberry
2 жыл бұрын
Thank you
@richardmingo3470
2 жыл бұрын
Were can you find the tax codes?
@irenenjoroge1707
2 жыл бұрын
Thanks for this valuable info. Stumbled upon this by chance . Just what I needed to know. Thank you. I’d hire you if you lived in my state.
@shermanstandberry
2 жыл бұрын
Thank you, Irene.
@BrendaleeHarrisHills
2 жыл бұрын
You're not available to hire in PA? Noooo!!!😩
@josephinebardot8403
Жыл бұрын
Extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.
@issacccarmona5944
3 жыл бұрын
Can you write off birthday gifts
@LYFEAccounting
3 жыл бұрын
Up to $25 of business gifts.
@BLCKMarketing
3 жыл бұрын
If you’ve acquired some of the tools that are considered a part of your start up costs prior to starting your business, can you still write them off?
@LYFEAccounting
3 жыл бұрын
Yes. You can write off “startup costs” and “organizational costs” up to a limit for your first year of business. We’ll do a video on it for you.
@ivaniaewing1045
2 жыл бұрын
Hi, thank you for this video it is soo much help for this new small business owner. My questions is, can you deduct the fees from your bookkeeping company?
@NickVetter
3 жыл бұрын
If I bought supplies I now need for my business like 2 years ago. Can I deduct that now that I started my business?
@LYFEAccounting
3 жыл бұрын
If you already filed your tax returns for 2-years ago, you'd likely have to amend your tax return for that period to claim those deductions. I'd weigh the pros of taking those deductions against the costs to amend.
@gvv1mhh
2 жыл бұрын
Awesome stuff! Please keep them coming!
@sandracc3741
3 жыл бұрын
But can you pay yourself for working in your own company? And overtime??
@LYFEAccounting
3 жыл бұрын
Depends on your entity. How are you set up? Sole proprietor, partnership, llc, s Corp, or c Corp?
@sandracc3741
3 жыл бұрын
As an llc
@kieglam4570
3 жыл бұрын
How do u track your expenses?
@LYFEAccounting
3 жыл бұрын
QuickBooks is what we recommend to our clients.
@MikeDMedia816
3 жыл бұрын
great video, very informative, currently opening my 1st barbershop and trying to learn as much as possible about write offs
@LYFEAccounting
3 жыл бұрын
Ohhhh nice, congrats! Be sure to take the "Startup and Organization" Costs deduction. Allows you to write-off your startup expenses. =)
@margaretburtch2683
2 жыл бұрын
Ihave a transportation business an Im a real estate investor I need help wit my taxes. love your procast
@racque3505
3 жыл бұрын
Love your channel! I own an accounting firm as well and I am trying to love this KZitem thing as well!
@LYFEAccounting
3 жыл бұрын
Thanks for watching, Racquelle! The more accountants, the better. 😃
@LYFEAccounting
3 жыл бұрын
That is awesome! I hope you are subscribed :)
@11BarriosJL
3 жыл бұрын
What if you work in your vacation can it be deductible?
@LYFEAccounting
3 жыл бұрын
Yep, as long as the vacation has a business purpose.
@arthurskye
2 жыл бұрын
@@LYFEAccounting what if that vacation is a break so you can recharge for your business? Can u call that a business retreat and write it off?
@jtreed5716
Жыл бұрын
@@arthurskye lol irs wouldn't like that
@RapidRoams
3 жыл бұрын
Hey Lyfe, Are you all accepting new clients? I tried to submit a form on your website and was unable to do so.
@LYFEAccounting
3 жыл бұрын
Hey Nathan, not yet but you can sign-up to be notified when we are here: lyfeaccounting.com/coming-soon
@RapidRoams
3 жыл бұрын
Perfect thank you!
@marvelouss719
2 жыл бұрын
Excellent video. I am a PHD candidate in accounting with one mission --weed out undesirable accounting students. LOL!
@jaimeguzman7481
2 жыл бұрын
Excellent information! I really like the way you conduct your presentation 👍
@tabwest-harkness7638
2 жыл бұрын
I love the approach/perspective to the IRS and taxes. It is these new mindset approaches that will allow a new economy to be birthed and allow for the next generation of wellth(wealth).
@shinaevans1549
2 жыл бұрын
This video definitely cleared up some things! I’ve pretty much done my own taxes for a few years until I started a business right around the pandemic and used an tax preparer service and my AGI had dropped on my tax return and I thought the ppl were trying to run some type of scam 😱lol this video just confirmed the benefits! Ty so much
@Damontk1d
3 жыл бұрын
I’m an accountant and this information is 🔑. Good refresher!! Thanks Sherman. Love the content.
@LYFEAccounting
3 жыл бұрын
Really cool! Thank you for commenting Andrew!
@eri7-11
2 жыл бұрын
Andrew if I vlog at restaurants or do clothing/grocery store hauls and make a profit ate those expenses 100% deductible (or 50% because mixed with personal)?
@ManuelPerez-ih1cv
3 жыл бұрын
So I use my dogs and kids to model and market my apparel. So I write off dr visits, dog food, child care. I also need to stay in shape to model and market so my massages, personal training and meal prep meals I order I write off. I currently have a storage which has some business equipment in it, so I write all that off 🤔🤔🤓🤷♂️
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