💡Home Office Deduction: Write off a portion of your home expenses used for business.
🧾Depreciation Deduction: Deduct the cost of tangible assets over their useful life.
💲Retirement Contributions: Maximize your retirement savings and enjoy tax deductions.
🚗Vehicle Deduction: Write off vehicle expenses and depreciation used for business purposes.
🥼Health Savings Accounts: Contribute pre-tax dollars for qualified health expenses.
What is the home office deduction?
—The home office deduction allows you to write off a portion of your home expenses used for your business.
Can I deduct depreciation for assets I own?
—Yes, you can deduct depreciation for tangible assets such as equipment, vehicles, and real estate.
How can I maximize my retirement savings?
—You can maximize your retirement savings by contributing to retirement plans like 401(k)s and IRAs, which offer tax benefits.
Can I write off vehicle expenses used for business?
—Yes, you can write off vehicle expenses such as gas, repairs, and insurance if the vehicle is used for business purposes.
What are health savings accounts (HSAs)?
—Health savings accounts allow you to contribute pre-tax dollars for qualified health expenses, providing tax benefits.
00:00Introduction and the importance of tax write-offs for businesses.
02:01Home office deduction: Deduct a portion of your home expenses used for business.
02:52Depreciation deduction: Write off the cost of tangible assets over their useful life.
03:52Retirement contributions: Maximize your retirement savings and enjoy tax deductions.
04:46Vehicle deduction: Write off vehicle expenses and depreciation used for business purposes.
06:20Health savings accounts: Contribute pre-tax dollars for qualified health expenses.
