Elev8 Your Life

#142-How To Save At Least $5,000 On Your Taxes Every Year

March 01, 2024 Episode 142
Elev8 Your Life
#142-How To Save At Least $5,000 On Your Taxes Every Year
Show Notes

Podcast Notes: Getting Ready for Tax Season as a Business Owner

Most of us assume that our mortgage or rent, student loans, or child care costs eat up the majority of our income, but the truth might surprise you. Our biggest expense is Taxes.

There are 2 tax systems in the US

  1. Employee
  2. Business Owner

If you don’t own a business now is the time to start one


When you own a business there are a TON of deductions you get to take

  1. Computer
  2. Phone
  3. Clothes
  4. Travel
  5. Food
  6. Internet Service
  7. Car

We see most people save at least $5,000 on their taxes every year!

You must prove that you are making an ATTEMPT to make money

The key is keeping good records of the things you spend money on

We developed a tax course with one of the top accountants in the country at HomeBusinessTaxCourse.com

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Tax Filing Options

  • Fill the paperwork out yourself and mail it in
  • Use an online service like turbotax
  • Hire a good accountant that can do it for you