How to Deduct Your Car and Rent On Your Tax Return

Here are the links to the documents referenced in the video!
Accountable Plan Document
docs.google.co...
Expense Report Document
docs.google.co...
Gusto Affiliate Link
gusto.com/part...
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See my interview with dropshipping expert, Scott Hilse...where we discuss, dropshipping, dropshipping nexus, dropshipping obligation, dropshipping sales taxes, ecommerce nexus, ecommerce tax saving strategies, llc vs s corp, hiring an ecommerce accountant, and much more.
• Dropshipping & Taxes: ...

[@AdamSmith-eh2qk]

Appreciate your content bro !! Keep feeding my mind !!

[@TheFraudExaminer]

Great job Brother. Very clean and informative video.

[@ecomaccountants]

Marlon my boy, thank you.

[@SteveMiguel]

Just followed man, cheers for this. Keep it up

[@Austin.8150]

Valuable content!

[@wayneshirreffs2052]

Pro tip: if you respond to all the comments on your videos (there aren’t many) you will get more engagement, sell more people on your course and get more clients as well

[@ecomaccountants]

I appreciate this my friend. We're a firm that's growing very fast so we struggle to put out content and engage with our audience. Thank you so much for being so engaged and we looked forward to responding to your comments!

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[@ecomaccountants]

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[@wayneshirreffs2052]

Good breakdown. I’ve often heard that a home office can be a red flag that can get you audited. What is your take on that?

[@ecomaccountants]

Home office deduction is certainly a red flag with the IRS. However the reality is that you should take educated tax positions so that if you're ever selected for audit, you have the required documentation to backup your position to defend all of your positions. When the IRS audits you, they don't usually challenge just one position, they are "shaking the tree" to collect as much additional back taxes as possible.

[@AtlantiXYL]

So can you sell the car the next following year and pocket all that money into your personal account?

[@ecomaccountants]

Intro - 0:00-3:18 1) Accountable Plan - 3:18-7:10 2) How to Deduct your Car - 7:10-20:11 3) How to Deduct your Rent - 20:11-21:32 4) Accountable Plan and Expense Report - 21:32-28:00 5) Gusto Payroll - 28:00-30:08

[@gameradoz]

I am Canadian and would love a breakdown for ecom entrepreneurs dealing with Canadian taxes

[@jpriest8487]

Chris - Great stuff again. Are there any ecom-focused lawyers you recommend?

[@ecomaccountants]

Robert Freund Law. The founder is a good friend of mine and a brilliant attorney

[@sachin2913]

Is this the same for Canadian taxes ?

[@ecomaccountants]

We're not sure! Consult with a Canadian tax Professional