Discover the essential documents and strategies needed to slash taxable income and claim maximum deductions, as I guide small business owners through the intricate world of tax expenses.
In this episode, you will be able to:
- Maximize tax deductions for small business owners by understanding income tax deductions and proper documentation.
- Discover the benefits of choosing between the standard deduction and itemized deduction to reduce taxable income.
- Learn how to manage medical expenses and adjust gross income for optimal tax savings.
- Uncover the ins and outs of state taxes and deductible expenses to keep more money in your pocket.
- Explore how mortgage interest plays a crucial role in maximizing itemized deductions and reducing taxable income.
"Banks won't loan you money without a PNL. The IRS, if they audit you, they're going to want to see a PNL. If you get audited and doing your taxes, it's going to be a lot easier with a PNL." – Jeff Hockett
Connect with Jeff:
Website: https://www.hocketttax.com/
Email: jeff@hocketttax.com
Twitter: https://twitter.com/taxgamecoach
Facebook: https://www.facebook.com/hocketttaxandpayroll
YouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0
LinkedIn: www.linkedin.com/in/hocketttax
Instagram: https://www.instagram.com/hocketttax/
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