Top 5 Tax Write-Offs for Youtubers and Entertainers
March 19, 2021
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12:40Now PlayingTop 5 Tax Write-Offs for Youtubers and Entertainers
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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A platform like YouTube allows business owners or anyone to start a business, on YouTube, by putting information out there that has the ability to be watched by millions of people. 💯
This information is also easily digested rather than having to spend days, or weeks reading, studying, or watching a series of shows.
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Each business is different and will have different things that go under “business expenses”. That means that what Jack’s business takes as a deduction may not be allowed for Sally’s business.
Section 162(a) allows a deduction for all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business.🔑
Ordinary and necessary are the guidelines. 👈🏾
Regardless of if you are profitable or not, if you are taking the steps to track your expenses, and differentiate what you are using for business and what you are using for personal.
This will protect you in the event of an audit.
Stay tuned for more tax info every week!
#forbes #business #entrepreneur #taxsaving #goals #motivated #tax
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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