How to write off HOME EXPENSES as a BUSINESS!

Watch full video explanation here: • How to Write Off Your ...

[@shermanstandberry]

Hey everyone, make sure you watch the full video here: kzbin.info/www/bejne/qHvdlJ-rfJeHrq8

[@dreamkiss4u]

What if it's not your home and your renting only? Can you do the same?.

[@houstonshomeautomation3524]

Thanks to you guys I was able to take my taxes owed down to just 1400 down from 7000

[@30musabboouf61]

Whaaaaat ur home must’ve been in ur home xD

[@consumerdebtchitchat]

I live in 840 square feet. Half of my place is used for my bakery business. This is such an awesome channel..❤

[@Zzz2x]

Did it work for you?

[@breew2968]

Makes so much sense 👏🏾 . Short and to the point

[@GojiCenter]

We do the same thing. It saves us a lot 🎉

[@twosteptown]

In Australia, doing this creates a problem once you sell your house. Everyone should probably talk to an accountant to fully understand the consequences of doing this.

[@cocosmokes]

Don’t sell ur house :)

[@akialanae9497]

You guys offer such incredibly useful information. Your work is appreciated 🙌

[@FinancialFreedomMadeSimple]

Thanks for the complete guide, beautiful home btw

[@gabrielestrada4803]

Thank you! This is how I learn visual

[@MattDelovino]

Love these types of videos!

[@_Carmelia]

I ❤you both for improving my life w/this information! Well explained 👏🏽 👏🏽

[@dujuanjohnson5025]

I love y’all keep it up! 👍🏾

[@JP-wn4jn]

Thanks for this short

[@babakhanyile8854]

Great jobs I love your whole content 🙏🏾🙏🏾

[@rogerhirst5039]

Beautiful!

[@christianbanks7458]

I love this couple 😍 watching from London uk 🇬🇧 ❤

[@AskForTheMoney]

great advice!

[@ruckes13]

I needed this 😊

[@LovedbyJesus101]

Look how big your house is 😮 ! Beautiful!

[@your_coach_tanya]

Love it!

[@antuancaraballo9691]

Thank you great advice!

[@mrsknight2984]

I love your videos... wouldn't this give the irs a reason to look closer at your returns though?

[@6MTLIFE]

Keep it up guys love your content. Also I appreciate seeing Krystal since that's my daughter name spelled also with a K ❤️

[@everybodyfitnessinjax]

Great channel, thank you!!

[@pandawolfpresents]

Thank You! 👍🏾👍🏾✅

[@butywbrainz]

🤩👀👀!!! Thanks guys 😃!!!

[@ancientDna1979]

I know I suppose to be listening, but ya'll are so cuuuute 😅🥰🥰

[@remnantglorycarrier]

Thank You

[@singhhoop]

Thank you

[@Ms.ladytosha]

Yay!

[@eddygci8]

How big can your home office be?

[@helpmeronda2023]

I did this

[@twohottohandle]

Can you do this with an apartment ?

[@Liz123789]

What does this question mean? Do you derive receipts from the sale, lease, or rental of tangible personal property situated in Texas? This includes home-based business located in Texas.

[@austin2187]

What if your outside property is part of your business as well?

[@chillkidzee3842]

Which means you can pay yourself more ?

[@carebear4554]

I'm confused on how to calculate utilities? Is it based on what percentage of time you use utilities during business hours, or by the percentage you claim monthly on rent space for your business?

[@thirdeyereptiles1772]

Does this also work if you rent?

[@raymundo6347]

Quick question.. now that u have a room which is now a business, how does that affect your home taxes?

[@generic_official]

Does home expenses include property taxes, home insurance, and all utilities?

[@shermanstandberry]

Yes, watch full video here: kzbin.info/www/bejne/qHvdlJ-rfJeHrq8

[@OptimusFBA]

Is this something you do in everyday booking or at tax time?

[@matesway4500]

Do you just then go the the bank with numbers and an idea or am I lacking documents and terminology?

[@bobbycorbinII]

Awesome short! Do I need to have my home address listed as my business's address in order to write these expenses off, or can I just use my home office for my business?

[@mtigress4589]

Do you have another office outside of your home?

[@bobbycorbinII]

@@mtigress4589 yes, I pay for a virtual office.

[@mtigress4589]

@@bobbycorbinII A virtual office... I've never heard that one before. I meant like a physical office outside the home.

[@bobbycorbinII]

@@mtigress4589 it is a physical address outside of the home.

[@mtigress4589]

@@bobbycorbinII Okay. So if you are working from another office outside the home at all, you can not claim home office expenses, even if you work there from time to time.

[@kohtime]

Yeah and then pay capital gains on part of your personal home on sale?

[@AaronHuie]

Do you have to be Inc. or have an LLC? I run my business through my personal name.

[@thesandravshow]

I have a KZbin channel that is not making money. I heard on someone else’s video that I can write business expenses for my KZbin business against my W2 from my day job. I contacted a local tax expert and they didn’t know what I meant. Is that a myth?

[@fields1336]

♥️♥️♥️♥️💘🧐

[@carsonmeyer5561]

Why can’t you just say you use your whole house for your business

[@mtigress4589]

Because it only works for space that is 100% used for business.

[@carsonmeyer5561]

@@mtigress4589 how they gonna know tho is what I’m saying

[@mtigress4589]

@@carsonmeyer5561 If the expense is too high compared other similar industries or business ratios it could get you selected for examination(audit). The revenue agent will 100 percent ask you how big your home is and call bs.

[@richardbryanesq]

@@carsonmeyer5561 you can write anything you want on the tax form at the bottom is called the “jurat“: “this tax return is correct, and true, under penalty of perjury.” Most people think twice about putting down false information on a document, signed under penalty of perjury.

[@MahoganyMayhem]

that velvet shirt is distracting me

[@mylespop]

Thank you, great advice

[@wambam9861]

🤯🤯

[@lel3450]

Can you do this with an apartment?