What is an LLC Tax Deduction?
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What’s an LLC Tax Deduction? It’s a legitimate expense that reduces your taxable income, lowering the amount of tax you owe.
Deductible Business Expenses:
Rent, utilities, salaries, marketing, travel, and more! Save on these common expenses to optimize your LLC’s finances.
Home Office Deductions:
If your office is at home, you can deduct a portion of your home expenses. Say goodbye to paying taxes on your dedicated workspace!
Start-Up Expenses:
Get your business off the ground faster! Deduct legal fees, advertising, and other costs associated with starting your LLC.
Self-Employment Tax Deductions:
Offset those self-employment taxes! Deduct a portion of Social Security and Medicare contributions to lighten the load.
Qualified Business Income Deduction (QBI):
Eligible LLC owners can deduct up to 20% of their qualified business income. This deduction is designed to provide tax relief for small business owners.
Recordkeeping and Documentation:
Stay organized! Keep receipts, invoices, and documents to substantiate your claimed expenses. Accuracy is key!
Maximize your tax savings and invest in your business’s success. Consult a tax professional for personalized advice.
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