As a tax strategy company, one of the strategies we advise our clients to embrace is starting a new business. Starting a small business, whether it’s in consulting, services, or a side gig, anything that can give you a 1099 income, is a great way to reduce your taxes.
But when it comes to tax calculation, when does your business really start?
As you would expect, starting a business comes with income taxes, and your business must be active to get tax deductions.
The most important thing to consider when starting a new small business is having a clear profit motive. As a start-up entrepreneur, you must have a product or service to sell and be careful to define your business as a trade, not a hobby.
In this video, you’ll discover how to make the best of your new business to reduce your taxes.
If you have any questions about starting a small business to help with your taxes, reach out to us at Tax Goddes, and let’s help you sort it out with ease.
ABOUT OUR CHANNEL
Our channel is about educating you about US taxes and helping you with tax reductions that your CPA can’t do for you.
We cover lots of cool stuff such as:
1- Strategic Tax Coaching
2- Tax Planning
3- Tax Laws
4- Tax Updates & News
Check out our channel here:
https://www.youtube.com/
Don’t forget to subscribe and hit the bell icon!
Who are we? We are the Tax Goddess Team!
Typical tax preparers and accountants help you record your financial past.
As Certified Tax Strategists, we help you change your financial future.
Shauna A. Wekherlien, CPA in @forbes: https://bit.ly/taxgoddessinForbes
CHECK OUT OUR OTHER VIDEOS:
1- Getting our client’s taxes to ZERO%
https://www.youtube.com/
2- Important COVID help for tax benefits
https://www.youtube.com/
3- Strategic Tax Coaching
https://www.youtube.com/
Ranked in the Top 1% of Tax Strategists in the USA. So far, we have saved our clients a total of $740 million in taxes (and counting)!
Book a FREE call with our Growth Experts!
https://taxgoddess.com/sales-team/
Hear from our clients:
https://taxgoddess.com/
Know more about our STC program:
https://strategictaxcoachingprogram.com/
FIND US AT
https://taxgoddess.com/
GET IN TOUCH
Contact us at info@taxgoddess.com
OR
Book a FREE call with our Growth Experts!
https://bit.ly/Growthteam
FOLLOW US ON SOCIAL
Get updates & secret tips on our Social Media Profiles!
Facebook: https://www.facebook.com/thetaxgoddess
Twitter: https://twitter.com/TaxGoddess
Instagram: https://www.instagram.com/thetaxgoddess/
![Good Biz with Liz: Advice for bosses on how to speak positively to employees [Video]](https://video.getpvd.com/wp-content/uploads/2024/11/mp_220902_0_JJGBNFSRXFBD3CMS5KP2JVQVCQjpg.jpg)
![Kentucky launches new campaign to attract people to commonwealth [Video]](https://video.getpvd.com/wp-content/uploads/2024/11/mp_220881_0_90.jpg)
![If I Was Starting a Business Today… What I Would Do Different! Passive Income for Stay at Home Mom [Video]](https://video.getpvd.com/wp-content/uploads/2022/06/mp_122083_0_0jpg.jpg)
![Understanding Your ‘Why’: The Motivation Behind Starting A Business [Video]](https://video.getpvd.com/wp-content/uploads/2023/03/mp_197993_0_0jpg.jpg)