Description

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/