a video on how to actually calculate these tax credits would be super helpful... googling around to calculate how much tax credit to claim was impossible
THANK YOU. Literally answered a question I've had for awhile. Your deduction and credit demonstration was great! Also how much I would be taxed on the business income and eligible expenses... google was no help lol
You’re welcome. It depends on how your business entity is set up. For example, a corporation is taxed differently than a LLC. Then it depends on how much income you made, minus deductions, and the remainder will be taxed based on your tax bracket. We have another video on our page about tax brackets that might help you understand how that works a little more.
Hi there thanks so much for the info. Still questioning: Can I take my normal business deductions, then I ALSO take the tax credits? Or is it choose one way -- deductions OR credits? I would greatly appreciate your input on this... I can't find this on the internet.
so we set up an LLC with the owner as Private Member Association (PMA) Bank Secrecy act allows this, with no EIN because there is no specific individual. its simply a general something in commmon. not sure
![Business Tax Deductions that 90% of Taxpayers Miss! [Must Watch]](/img/n.gif)
We just built a new home and realized we will qualify for a residential energy credit. Your video saved us $500. Thank you!
I’m happy to hear this! Thank you for circling back to this video to let me know. Just made my day. Good luck!
Your Wisdom is Awesome, I would like to talk with your team for some tax credit advice thanks
This was super helpful for someone who knows nothing.
You were very clear and the examples helped a lot.
Great video!
You answered some questions I’ve been researching for a while.
Thanks!!!
I've learned, So much from watching your channel. Keep up the good work 👏 .
Thank you so much. Much more value on the way. 🙂
Opportunity Zone? 😱I've been missing out. Thanks.
💯
You can use both tax deductions and tax credits at the same time right?
Your team is providing such awesome content!! Thank you 😊
Excellent and useful information.
Nice video… what’s the maximum college tuition fee credit that we can get per year for self employment?
Thank you so much my brother for spreading the knowledge, and inspiring us to do more!
Thank you for your continued support! We appreciate it.
a video on how to actually calculate these tax credits would be super helpful... googling around to calculate how much tax credit to claim was impossible
Typo at 7:50
If the accountant doesn't know about these then what's the point of hiring a cpa?
Thank you! You have saved me with my economic development finance class.
Nice. Good luck in the class.
Thank you so much for all this wonderful and useful info. I am learning and grasping so much of the info. THANK YOU!
THANK YOU. Literally answered a question I've had for awhile. Your deduction and credit demonstration was great! Also how much I would be taxed on the business income and eligible expenses... google was no help lol
You’re welcome. It depends on how your business entity is set up. For example, a corporation is taxed differently than a LLC. Then it depends on how much income you made, minus deductions, and the remainder will be taxed based on your tax bracket. We have another video on our page about tax brackets that might help you understand how that works a little more.
not metaphorically answered ?
Very clear and interesting!!! Good Job
Glad you liked it!
I love the background music...
Shermin! Awesome stuff! Can Lyfe do org formation, books and tax planning for businesses in Minnesota? I'd love to have a conversation!
Lyfe is awesome keep up the great work 👍...I understand alot better now!!! Thanks🙏
I love this channel, thanks
Crazy how this info is free
Welcome to the channel! 😎
Hello where’s the link to contact your business to file taxes?
We aren't accepting clients right now, but we'll again soon!
Hi there thanks so much for the info. Still questioning: Can I take my normal business deductions, then I ALSO take the tax credits? Or is it choose one way -- deductions OR credits? I would greatly appreciate your input on this... I can't find this on the internet.
Hi Dee, yes you can take tax deductions AND credits. 😊
better life starts needs your help
I would like help with setting up my business profile.
What profile exactly?
Im going to watch all 257 videos now
Hello! How can I contact you! I have questions on learn how to do taxes.
We don't teach how to do taxes. But if you want, we can file them for you. You can contact us at lyfeaccounting.com
so we set up an LLC with the owner as Private Member Association (PMA) Bank Secrecy act allows this, with no EIN because there is no specific individual. its simply a general something in commmon. not sure
Thanks
Thanks for watching
Hello sir I'd love to speak and learn more about tax credit and getting a grant I'm honest a startup
So tax credits are like business coupons 🤔 😆
Great video! Team #gsu
#TheRealGSU
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
I wanted to like the video but l can't. There's currently 444 liked. So 👍🏾
lol understood. Thanks for watching.
OMG! Sherman, would you please be my CPA? Please please please 😊
it's just too much of a liability
❤