In this video, I approached random accountants and asked them about their favorite tax write-offs for small businesses. I also got a chance to learn more about their career, how much money they make, what they enjoy about being accountant, and more! Tax Services: https://schedule.lyfetaxes.com/discoveryapplication Subscribe: https://bit.ly/2HJlq46 Timestamps: Intro (0:00) Interview #1 – Peter, Senior Tax Accountant (0:46) Interview #2 – Tayisha, Accounting Manager (3:32) Interview #3 – Bryan, Compliance (5:55) Interview #4 – Tiazel, Tax Director (9:06) Asking Strangers Questions (12:18) Interview #5 – Joshua, Auditor (13:22) Interview #6 – Tuan, Government Accountant (16:50) Interview #7 – Ben, VP of Audit (20:22) Interview #8 – Tamika, Entertainment Accountant (24:19) Interview #9 – Rick, CPA (26:08) Interview #10 – Shanika, Tax Accountant (29:26) More Sean Interview Videos Other Popular Uploads: IRS Audit & Tax Court Cases: https://youtu.be/jLtBr-aKQ-w 7 Popular Tax Write-Offs That Could Trigger an IRS Audit: https://youtu.be/vbg-b9D3bsQ IRS Receipt Requirements: https://youtu.be/R7BNZPCz310 Single Member LLC, What You Must Know: https://youtu.be/iHy1xLYqS6Q How to Start a Business: https://youtu.be/gEICb03wQng How to File Your Taxes as an LLC: https://youtu.be/vqsghJV1AbU 5 Startup Grants: https://youtu.be/FweABu-XPNM Please be sure to give this video a like and subscribe to our channel so you don’t miss out on future videos! #smallbusiness #entrepreneurship #finance /// Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
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They tax the middle class too hard where you can’t get rich because you have to manage so hard
“What is your favorite tax writeoff?”
Timestamps:
1:33 Bonus Depreciation
8:07 Make sure you account for all expenses
9:48 Real estate depreciation as a passive loss
23:30 Leverage the tax rules built for real estate and investments; short term capital losses; use trust and LLCs to create wealth
24:50 Holding income; tax shelter accounts; defer your income and accelerate your losses; Delaware, Montana to reduce tax.
27:17 Bonus depreciation (lowering in effectiveness soon); home office deduction; personal expenses that you can make business expenses
“As long as its ordinary and necessary you can almost write off anything.”
30:20 Depreciation; Bonus depreciation or section 179 (Real estate: depreciation write off + bonus cashflow); QBI qualified business income;
Thank you for this! ❤
@Zaki Hussain your welcome 🙂
@LYFE Accounting… Please choose a different “DING” sound effect. Working while “watching” the video and constantly looking at my phone every time I hear the sound effect. Might be small, but subconsciously a reason not to watch because of the annoyance. Great content though. Keep up the good work.
I love to see this as a young black guy you not seeing this in mainstream
Loved this!!
Clicked for the title question, didn’t see it asked in the first 2 minutes. Recommend changing the timestamps to when it’s actually asked, otherwise feels like a waste of time
for those who want the bottom line. Here are the compensations:
1. 350k
2. 480k
3. 320k
4. 640k
5. 279k
great job bro ! quality content
Lots of beautiful black women being interviewed AND walking around in the background 👀👀😍😍😍
Seems a little scummy to try and advertise tax write offs. It’s essentially cheating the system.
They wanna tax the rich but do the same things they do
That was excellent!!
The irs has entered the chat
Black power in full effect 🫶🏾💯
No white Jew accountants in ATL? lol