Top 5 Tax Deduction Mistakes LLC Owners Make! (2022)

[@nickramos6859]

Carlton, why don't you do a few videos of common deductions used in particular business or careers, ie. nurses, construction, youtubers, plumbers, Amazon resellers and the like. Your info is invaluable to LLC'S and side hustles. Thank you.

[@Rio100Chaves]

Also staffing agency

[@NoneotherEntertainment]

Can be a series in itself for the channel. If we can add in the topic for cryptocurrency business as well into the pot of suggestions.

[@Da-veed]

It’s more complex and in more depth to break it down for every industry. But I bet if you hire him to be your consultant, you’ll find every answer you’re looking for.

[@berrynina8]

Thank you so much, we have an llc for our small trucking company. Doing our taxes can be so complicated but you nailed it. Your information has helped a lot.

[@clenndesigns7338]

Dude, im glad i found you in youtube.... these are feee knowledge

[@aikomchenry9173]

I believe only restaurant served meals (including catered or take-out) are 100% tax deductible. If you buy a sandwich from Walmart for lunch during business trip it is 50% deductible as a meal expense because Walmart is not a restaurant. If per diem it is fully deductible by employer but it is best to be substantiated.

[@hannahreed7339]

Thank you for all of your amazing information. 👏

[@slinton592]

Can you do a more in depth video on LLC as a trucking company …pleaseeeeeee

[@justam_ess]

Always knowledgeable! Thank you!

[@Youkhanhdoit]

Karlton, where's your business? I feel one day I have to pay you a visit

[@hasanjamison1738]

Appreciate the info you and your Mom share.😉

[@voicesbysonia]

I found you via Swaggy. Thank you for your information.

[@lewishines8467]

Thank you man.

[@BillyBob-vz8ol]

hey Carlton. i’m a LLC owner operator i just paid 2021 to have new concreate drive way and a 10x14 shed 99% for my trucks repair and storage can i write both the cost of the shed and driveway. this driveway is in the back yard. driveway is 15’x54’. i have a driveway out front for cars etc

[@lifetimegetaways9784]

Hi Karlton, Great video as always. I have a Q. I recently applied for an LLC and it’s taking a very long time. I’m up to fifteen days now and no response yet. Do you know if this is normal right now? Are they behind in approving LLC’s?

[@damionanglin1848]

Thank you 🙏🏿

[@only1carso]

Hey Karlton, if I’m a forex trader is that considered as investment income and am I subject to federal and Medicare tax?

[@asmoov]

If you use your business credit card are the repayments a deduction or can you only use the initial payment for the certain item, the deduction?

[@BlackCulturalPreservation2023]

Thanks 🧐

[@bobflynn5116]

Karlton, Can you describe the issues related to credit card point some more. My understanding is that things purchased with points are not deductible in any way. So, if I use my points to pay for a hotel on a business trip, the cost of the hotel (free, but valued at $X) is not deductible. Therefore I should never use points for business expenses. Am I correct or missing anything? Thanks for your videos.

[@isco5232]

You can use your points for business expenses, you just shouldn’t use it as an expense.

[@bobflynn5116]

@@isco5232 thanks. But if I can't use it as a business expense it seems better to save points for personal use and pay for the hotel when on a business trip.

[@isco5232]

@@bobflynn5116 yeah you are right about that one, I use all my point on personal stuff lol.

[@goldenstandard187]

🔥

[@mattk8810]

Your links dont work

[@davecohen6902]

First

[@dwyanelymore2833]

Thank you 😊