The 12 Most Valuable Tax Deductions For Small Businesses (Do This Now!)

Starting your own empire can start with a single small business but, you definitely don't want taxes to take control. However, there are ways to prevent this from happening. Here are the 12 most valuable tax deductions for small businesses.

Within this list of 12 tax deductions lies something for you to implement in your next tax season.

Our expert, Toby Mathis, Esq., knows what he is doing when he says these are valuable opportunities you should be taking advantage of if possible.

Don't lose more money than you have to…

Keep what you earn and use that money to build yourself up!

Hopefully, this video will be helpful to those who are seeking to learn more about saving money on their business taxes.

If you enjoyed the content, please consider doing one of the following:
Like
Share
Subscribe to the Channel

Also, remember, that we love to read your comments and suggestions. While we may not respond to everyone, we do read them so please keep the positive comments coming and we will try our best to respond.

Thank you for joining us and good luck with your business endeavors.

Show Notes:

0:00 Intro Types of Businesses
2:37 Accountable Plan
8:23 Direct Cost & Indirect Cost
11:13 Reimbursements for Your Business
14:50 Meals
16:15 Equipment
17:17 Health Insurance
20:03 Travel Expenses & Practises
22:50 Start-Up Expense Write-Offs
25:09 Retirement Plans
26:40 Defined Contribution Plan
29:25 Qualified Business Income
32:01 Outro
---------------------------------------------------------------------------------------------------------
SUBSCRIBE

~~~~

FREE REAL ESTATE INVESTMENT STRATEGY SESSION

FREE TAX & ASSET PROTECTION WORKSHOP

TAX TUESDAY LIVE

OTHER ANDERSON ADVISOR EVENTS

Learn a rich selection of subjects like tax and asset protection, business, investing, and much more. Our partners, attorneys, and other skilled experts will help you learn what you need to know in order to better your chances of success in your professional life.

~~~~

FINANCIAL PLANNING & TAX RESOURCES

~~~~

FOLLOW US:

~~~~

CONTACT US
Phone: [phone]
Fax: [phone]

ABOUT TOBY MATHIS

---------------------------------------------------------------------------------------------------------
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#smallbusiness #taxdeductions #taxes

[K.Leeeee]

I just found you… and I’m so glad that I did !!! Thank you for getting straight to the point, thank you for being so thorough. I appreciate you ✨ I just subscribed!!!

[nataliebruno]

First time I can watch an honest learning video with a clear context. There are few people who do things without any interest. Gracias 😊

[cheydoesnails]

Great video! Very informative and clear to me. I'm someone who is thinking about starting a youtube and worries about the tax/business part so this was helpful. Thank you!

[lseh]

You’re a great teacher. Thank you so much. I have an accountant and I’m afraid to ask questions regarding many of these issues. He always tells us we have no deductions because my spouse works for a corporation—have to wait until he retires to get the full tax benefit of rental properties. Also, you have great cadence. Good luck and good health to you and yours.

[EricKerman]

Thank you very much I am not NEW but am way more educated about what to ask as I start a new LLC

[orizappa]

thank you sir its been so important for me.. im signed up with your company and i love the peace of mind.

[teslarex]

Great video! Very clearly explained. Not many accountants are this clear and or educated about this.

[blackbeardpapa]

LOVE LOVE LOVE your videos! LOVE LOVE!!!!

[Cali_Girl]

LOVE all your information, Toby!
Thank you for sharing it with us!

[mayaveetina]

Thank you so much Toby very great and smart vdo😊

[lseh]

Thanks for telling us how you felt small when you first started. Also, it’s so expensive to talk to lawyers and accountants. You’re so kind to share your knowledge. 😊

[pplywnt]

Thanks for the new video! I’m looking forward to seeing what other content you post! Always good to learn as much as you can!

[hugoreyes]

Great information.
I clueless all about tax.
I'm glad I found you, I'm educating myself from your videos.
Tanks much

[CDGMR]

No wonder small businesses stay small when they do their taxes with H&R Block and the rich keep getting richer, because you need to pay a little more to have someone like this guy on your side (advertising you). H&R Block haven’t told me any of this.

[laurasherry]

This video and all the information you share from your videos has been so phenomenal for me thank you so mucH!!!!

[dhasagirl]

Amazing information. Subscribed right away

[terenceeans]

As always, knocked it out of the Thanku, my friend, I've been enlightened, and I'm sharing with my family, friends, and associates so that they can be enlightened and successful as well!!!

[carolynmurphy]

Great video!! I'm writing my business plan for a home-based business as a virtual assistant offering mental health billing & bookkeeping. I do intend to form an LLC.

[same.]

So much rich information for free! Thank you, Toby! I did have a question. I noticed you barley mentioned LLCs. Is that because once you set up an LLC, you have the option for elect S-Corp or C-corp as your choice for tax purposes? Is that how it works, and can you switch it up each tax year or once you’re an LLC taxed as a C-corp it remains that way? Thanks again!

[jenjenmarlow]

Thank you so much Toby, it is really kind of you to share this much information. I appreciate you!