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046: The Top Write-Offs for LLC Owners in 2024
In this conversation, Chris Monzon and Dominic discuss the top LLC tax write-offs for 2024. They cover topics such as startup and organizational costs, vehicle expenses, marketing, and advertising expenses, home office deductions, and travel expenses. They emphasize the importance of documentation and working with a qualified CPA to maximize tax deductions. They also caution against extravagant or unrelated expenses that may not be considered ordinary or necessary for the business. In this conversation, Chris Monzon and Dominic discuss various tax deductions that small business owners can take advantage of. They cover topics such as startup costs, vehicle expenses, advertising and marketing, home office deductions, and rental expenses. They emphasize the importance of working with a CPA to ensure accurate record-keeping and compliance with IRS guidelines. They also caution against taking excessive or sketchy deductions that could increase the risk of an audit. The conversation provides valuable insights for small business owners looking to maximize their tax savings.
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The Fi Guys
WebsiteMonzon Wealth
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📧 Contact Us:
For FI Friday Feedback questions, business inquiries, or collaboration opportunities, please email us at: [email protected]
💬 Leave a Comment:
We love hearing from our viewers! Share your thoughts, questions, or suggestions in the comments section below. We'll do our best to respond to each one.
⏰ Timecodes ⏰
00:00 Introduction: Top LLC Tax Write-Offs for 2024
11:26 Chapter 1: Startup and Organizational Costs
14:40 Chapter 2: Vehicle Expenses
22:34 Chapter 4: Home Office Deductions and Travel Expenses
26:40 Renting an Office: Fully Deductible Expenses
28:25 Methods for Claiming Home Office Deductions
33:00 Ongoing Bookkeeping and Record-Keeping
35:28 Advertising and Promotions: 100% Deductible
39:11 Depreciation: Deducting Business Assets
41:33 Insurance, Office Deductions, and Travel Expenses
45:13 Personal Expenses: Making the Argument for Deductions
#tax #money #llc
~~~~~~~
Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
This video podcast is sponsored by Monzon Wealth. The content in this podcast is for informational purposes only and should not be considered financial advice. We do not endorse specific products or services. Past performance doesn't guarantee future results. The opinions expressed are those of the hosts and guests, not the podcast sponsors.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/
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By The FI GuysIn this conversation, Chris Monzon and Dominic discuss the top LLC tax write-offs for 2024. They cover topics such as startup and organizational costs, vehicle expenses, marketing, and advertising expenses, home office deductions, and travel expenses. They emphasize the importance of documentation and working with a qualified CPA to maximize tax deductions. They also caution against extravagant or unrelated expenses that may not be considered ordinary or necessary for the business. In this conversation, Chris Monzon and Dominic discuss various tax deductions that small business owners can take advantage of. They cover topics such as startup costs, vehicle expenses, advertising and marketing, home office deductions, and rental expenses. They emphasize the importance of working with a CPA to ensure accurate record-keeping and compliance with IRS guidelines. They also caution against taking excessive or sketchy deductions that could increase the risk of an audit. The conversation provides valuable insights for small business owners looking to maximize their tax savings.
🔔 Subscribe for More Content:
📌 Connect With Us:
The Fi Guys
WebsiteMonzon Wealth
Facebook
Instagram
Twitter
LinkedIn
📧 Contact Us:
For FI Friday Feedback questions, business inquiries, or collaboration opportunities, please email us at: [email protected]
💬 Leave a Comment:
We love hearing from our viewers! Share your thoughts, questions, or suggestions in the comments section below. We'll do our best to respond to each one.
⏰ Timecodes ⏰
00:00 Introduction: Top LLC Tax Write-Offs for 2024
11:26 Chapter 1: Startup and Organizational Costs
14:40 Chapter 2: Vehicle Expenses
22:34 Chapter 4: Home Office Deductions and Travel Expenses
26:40 Renting an Office: Fully Deductible Expenses
28:25 Methods for Claiming Home Office Deductions
33:00 Ongoing Bookkeeping and Record-Keeping
35:28 Advertising and Promotions: 100% Deductible
39:11 Depreciation: Deducting Business Assets
41:33 Insurance, Office Deductions, and Travel Expenses
45:13 Personal Expenses: Making the Argument for Deductions
#tax #money #llc
~~~~~~~
Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
This video podcast is sponsored by Monzon Wealth. The content in this podcast is for informational purposes only and should not be considered financial advice. We do not endorse specific products or services. Past performance doesn't guarantee future results. The opinions expressed are those of the hosts and guests, not the podcast sponsors.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/