The Best Method to Write-Off Travel Expenses | Mark J Kohler

[@BlindtoBillionaire]

I wish my accountant was even a fraction as smart and knowledgeable as you. My guy is clueless! I need to send him to your channel to learn how to do his job. LOL. This is by far my favorite channel, I could watch your videos all day! You are funny, entertaining, and I just love the content. Thank you so much for everything you’re doing. Matt

[@stevenroshni1228]

A lot of conferences just happen to be in places people want to go to...and it's helpful that those places have hotel rooms.

[@swb3248]

Thanks. Love the conference deduction

[@MaryPatricia-wr3wj]

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45

[@RichardWilliam-i4z]

Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving

[@MaryPatricia-wr3wj]

@@RichardWilliam-i4z Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know

[@RichardWilliam-i4z]

@@MaryPatricia-wr3wj Who’s the person guiding you

[@MaryPatricia-wr3wj]

@@RichardWilliam-i4z KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.

[@RichardWilliam-i4z]

@@MaryPatricia-wr3wj Thank you, I just checked her out and I have sent her an email. I hope she gets back to me soon.

[@everythingella4575]

Thanks so much for this video. I don't see enough content like this on KZbin.

[@MarkJKohler]

Thank you Ella, I appreciate the support!

[@TheDazedknight]

You're a cold piece my man. I'm picking up everything you dropping. Thanks.

[@MarkJKohler]

Any time

[@ndodier]

OMG 😳!!!!! I paid WAYYY To much on my taxes last year! I did lots of traveling!! And I typically leave on Friday and return on a Tuesday! Your video was Informative and funny! Please talk more! I am a business owner and I need to learn more about this.

[@MarkJKohler]

If you paid way too much in taxes (which nobody should have), you may need a second opinion or a new CPA. Give my accounting firm a call 435-865-5866.

[@saintarj4552]

If i take my partner are her expenses also tax deductible?

[@mauriccionavarrete6882]

Great information! I just recently started my own business and this content really helps a lot. Do you have a separate video on how to file your own write offs and other business expenses?

[@MarkJKohler]

I do have a few other videos on write-offs and here is a link to a related video. kzbin.info/www/bejne/n6SzYpeqiL58eNU

[@timandfin]

This was super helpful as a full time travel KZbin channel, glad we found you! Subscribed so we can go do some research in your video library ☺️

[@MarkJKohler]

Thanks for watching and I hope you enjoy more of my content!

[@thesound8983]

Can you track flight mileage when traveling?

[@healthyaisletoasia]

Does meeting an advisor write off only apply to incorporation or sole proprietorship can also have family advisor they can go meet and write off the travel expenses?

[@ML.55555]

Fantastic channel! Been watching every video I can since I stumbled upon your channel last week. If you don’t have the knowledge, you don’t even know what to ask your cpa/advisor! Your videos are invaluable! Thank you for your time and dedication!

[@MarkJKohler]

Thank you so much for watching! I am glad to see that these are helpful. Don't forget to subscribe and leave a like on the video. Little things like that help my channel find more business owners that could benefit from these videos. Thanks again!

[@stevenroshni1228]

What would you say to family and friends that might get offended that you are saying it's a business trip?

[@the1manshow905]

I won't be buying or selling real estate, I'd be hand delivering checks out of state by driving or flying to clients. Is the gas & plane fare I purchase tax deductible?

[@HB-ow9wy]

What if I go to find a rental property to buy or to investigate the area before I make a purchase? Can my travel costs be deducted?

[@abdulsmith2815]

Did you ever find an answer to this question, because that’s what I’m trying to figure out right now...

[@timberlaketri111ionaire]

I really liked this. Super practical and reasonable.

[@MarkJKohler]

Glad you liked it!

[@rpm2day]

So a landlord that travels to spray for weeds and bugs at their rental house can write off that travel and supplies?

[@jamessilverthorn6591]

If I were to travel to source/look at rentals would that be a write off?

[@nathanfaselt886]

I am trying to find the best way to write off getting a pilot's license and buying a plan. What would be the best way to do this

[@archertwin22]

What counts as doing legitimate business in a day? Three hours at a minimum?

[@Ourglobetrotting]

Hey Mark, we are starting an LLC for our small travel blog. We do hotel reviews and social media content and get paid for our content we make. Not asking for any legal advice but if we travel for 10 days to California and legit make content (work) all ten days, could we not claim all 10 days? Thanks for the great info

[@monetarymindset_]

Awesome stuff. Come to Atlanta 2020.

[@MarkJKohler]

Thanks Tehran. We will see if I come to Atlanta next year!

[@monetarymindset_]

Mark J Kohler I’m going to keep telling you to come until you’re able to make it. So you might as well make it work 😅

[@monetarymindset_]

Mark J Kohler I have 3 people ready.

[@daveharness70]

You the man! Thank you!

[@MarkJKohler]

You're welcome. Thanks for watching!

[@bethakabetty]

Question. I should use my business account (credit card or checks) to pay for these expenses (auto, flights, hotels, meals) correct?

[@DaraAbasute]

Haven’t seen this question answered on any of the videos like this. But I would assume, yes 🤷🏾‍♀️

[@market-mastery-pro]

I love your videos. Thank you for all that you're doing :P

[@MarkJKohler]

Thanks so much! I love what I do, and I love helping people get the most out of life!

[@proudsisof3herosbros.952]

I have to a lazy tax preparator , I have to ask or forward you .

[@aortiz1105]

I’m not a business owner but I travel cross county for work 100% of the time. I’m reimbursed for lodging only. I’m this case would I be able to deduct my airfare, meals, and car fair?

[@ellendoulacare]

Could travel be international ?

[@stevenroshni1228]

The rules are different but sometimes yes.

[@teesong6801]

I thought a business write off is based on your tax bracket not 100%. Am I wrong? For example I am in the 35% tax bracket so I thought I would only qualify for 35% of my air, hotel etc.

[@dannyl7320]

Just found this video and it's incredibly helpful so I subscribed and will be sharing! Thanks! I do have one question, is there a way to write-off business expenses that were purchased under someone else's name? For example, my friend is a photographer and I'll be meeting up with her. She's asked me to purchase some expensive gear, as well as a bunch of smaller props and tools for photo-shoots. I've already paid for it all under my name, how can we go about this? (It's her first year as a self employed photographer)

[@Bladeguy99]

Can I write off all my travel days if I am documenting my trip for KZbin channel? I am going to be gone for an extended period of time. I'm also going to be working at my full-time job during this period. But I'm going to document my travels and living on the road at cetera. I guess more specifically if I am filming on a given day or editing is that a business day?

[@simonmartinez8480]

Any way for 2021 -2022 to have your workshops in key vacation areas . Since odds are we will be reopening travel this year , would love to go to one of your workshops and have my annual board meeting at a vacation area. Examples: Summer time: Miami Key west Hawaii Winter: Aspen, Colorado (ski area) Lake Tahoe New York City

[@MarkJKohler]

Hey Simon, I love it! I typically hold a workshop in Hawaii every year. If you are signed up for my free newsletter you will get updates if we decide to open back up in-person workshops. Email my marketing director [e-mail] if you need help getting on my newsletter!

[@quayneil5556]

How the heck do I find an accountant that can help with small businesses?

[@MarkJKohler]

Quay! That's an excellent question! I would be happy to answer that for you! Join me for my live stream on February 27th, starting at 4pm MST and I will answer that for you then! Thanks for the question!

[@DigitalQ1988]

Mark J Kohler I’ll be there?!!

[@rdbeaz]

My cpa says can't do this I own a rental

[@MarkJKohler]

I don't have much context on your situation, but I always say GET A SECOND OPINION! Believe it or not, your CPA isn't always right. If you are looking to find a trusted source for a second opinion, you can call my office and set up a short consult at 888-801-0010

[@shorak9679]

Can I take an assistant with me to business travel he is not the company employee

[@knucleballfreedom]

To clarify, 50% of meals is only of my portion of the meals when meeting with a client?

[@joezupko]

sounded like he said all of them during business and travel days. IDK about "personal" days while on travel.

[@richardgomez1458]

I am currently looking for a CPA. Where can I contact you? Thank you

[@MarkJKohler]

Richard, call my office at 435-586-9366 and one of my New Client Specialists can help you!

[@mitchellmccauley160]

amazing

[@MarkJKohler]

Thank you Mitchell, I appreciate the feedback and support.

[@wid90210]

Can you help travel nurses save on there taxes

[@MarkJKohler]

Hi Widmaer, hope this video helped you! If you need more direction here is the link to my last live stream, we talk all about travel expense write-offs and answer questions. kzbin.info/www/bejne/Z3qzmqGsmt6lrc0

[@johnsmith-fw8np]

The only problem is the your workshops a one day event. I have been to one of then. Very good. Maybe you should get together with some other individuals and spread it out to 3 days. It is much better. Don't you think?

[@stevenroshni1228]

Either that or find some other things related to the business, to do, on those other days.

[@kv7591]

Hello Mark, I really Love your Channel , its enlightened me a Lot. I wanted to ask if its possible to write off an Expense for my Startup. I made payments to a Devshop overseas to build software for my startup. Can I write off these expenses I made through PayPal. Would love some Help. Thanks

[@MarkJKohler]

Sydney! Great question! I would be happy to answer that for you! Join me for my live stream on February 27th, starting at 4pm MST and I will answer that for you then! Thanks for the question!

[@simonmartinez8480]

Mark if you were a taco, you’d be a good taco 🌮

[@joelrflores]

Good info!!

[@MarkJKohler]

Thank you Joel, I pride myself in giving you the newest and best information!

[@rvmorgan47]

What if your business is doing travel videos. Can you write off all your travel as a business expense?

[@MarkJKohler]

Hey Ricky that is a great question. For more information on what you can and can't write off as a business expense check out my blog article. markjkohler.com/what-expenses-can-i-write-off-on-my-next-business-trip/

[@Usernameemanr]

Lmao, oh man, I was stuck in vegas on the weekend 😂😂

[@Usernameemanr]

This was so funny.

[@MarkJKohler]

Happy that you understand my sense of humor.