I thoroughly enjoy watching your videos! I'm particularly interested in learning more about tax implications for LLCs that own other LLCs or S-corps that own LLCs. Do you have any videos covering this topic? If so, I'd greatly appreciate it if you could point me in the right direction. Your expertise in this area would be incredibly valuable to me. Thank you!
@navimarajcpa Question for you: you mentioned @36:07 that for Lyft Drivers they can consider the vehicle as Equipment and deduct 100%, can you clarify if this applies to Turo Rentals as well for vehicles under 6000 GVWR but not used 100% for business (but still over 50% business use)?
Hopefully you can help here, I'm an LLC my vehicle is used 80% of the time. Could I wrap my vehicle and the remaining 20% of personal miles be converted to business miles since I am advertising and working now?
Very much enjoying this video. Quick ? Through end of October of 2024. I will be a w2 wage earner. I’m going 1099 in November and want to buy a 50k vehicle to be used for business at least 80% of the time. Can I use the cost basis of the car. (Under 6k lbs). Against my taxable income there by hopefully eliminating most of my taxes to be paid?
The video is good but it is all about the HOW to deduct a business vehicle but there is almost no discussion of what actually qualifies as business use of a vehicle. For example, if someone works 100% from a home office it is unclear what exactly would constitute business use of a vehicle.
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You are really good. Wishing you continued success!
Loved this video! Only wished it showed the whole masterclass without the rushing near the end.
Navi has saved me THOUSANDS of dollars and always takes the time to answer all my questions, no matter how long it takes. Love him!
How do you recommend titling the vehicle? Personal vs Business name?
Really spectacular presentation of some difficult to consume content. Thank you!
I thoroughly enjoy watching your videos!
I'm particularly interested in learning more about tax implications for LLCs that own other LLCs or S-corps that own LLCs. Do you have any videos covering this topic? If so, I'd greatly appreciate it if you could point me in the right direction. Your expertise in this area would be incredibly valuable to me. Thank you!
This guy is amazing. Thank you, sir🙌
Anytime!
Good explanation just does give you info on how to go about the actual process of purchasing a vehicle
Love the way you explained. Thank you.
You’re welcome. Thanks for the feedback!
Great video. Very well explained! Thank you
Thanks for watching. Appreciate the feedback. 👍🏼
❤❤❤ very happy met You content appreciation ❤
Great presentation!!!
Thank you!
Do you have agents in different states that you can recommend to fill taxes?
@navimarajcpa Question for you: you mentioned @36:07 that for Lyft Drivers they can consider the vehicle as Equipment and deduct 100%, can you clarify if this applies to Turo Rentals as well for vehicles under 6000 GVWR but not used 100% for business (but still over 50% business use)?
Hopefully you can help here, I'm an LLC my vehicle is used 80% of the time. Could I wrap my vehicle and the remaining 20% of personal miles be converted to business miles since I am advertising and working now?
Im a nerd for the details😅 thanks for scratching my itch!
Great information
Very resourceful. Thank you!
Excellent thank you!
Very much enjoying this video. Quick ? Through end of October of 2024. I will be a w2 wage earner. I’m going 1099 in November and want to buy a 50k vehicle to be used for business at least 80% of the time. Can I use the cost basis of the car. (Under 6k lbs). Against my taxable income there by hopefully eliminating most of my taxes to be paid?
great video
The video is good but it is all about the HOW to deduct a business vehicle but there is almost no discussion of what actually qualifies as business use of a vehicle. For example, if someone works 100% from a home office it is unclear what exactly would constitute business use of a vehicle.