Discover expert tax-saving tips for small businesses with Ryan Moriarty! Learn key strategies to maximize deductions, reduce liabilities, and streamline your tax process. Perfect for entrepreneurs looking to boost their bottom line and looking for states with less taxes.
TAKEAWAYS
Learn how to maximize business deductions to lower your tax burden effectively.
Keeping a detailed record of business expenses can lead to major tax savings.
Avoid confusion and legal issues by keeping personal and business finances strictly separate.
Don’t miss out on valuable small business tax credits that can reduce your tax liability.
Know how to properly calculate and plan for self-employment tax as a business owner.
If you work from home, learn how to take advantage of the home office deduction.
Avoid penalties by staying on top of your quarterly estimated tax payments.
Use retirement plan contributions to lower your taxable income.
A tax professional can help you navigate complex tax laws and maximize your savings.
Proactive tax planning throughout the year helps minimize surprises when tax season arrives.
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*TIMESTAMPS*
0:00 - States with less taxes. Taxes, Rules, and Maximizing Savings
0:45 - Importance of Discussing Taxes: Welcoming Ryan Moriarty
2:26 - Ryan’s Background: From Computer Science to Tax Services
3:43 - Building the Tax Service Business: Efficiency and Affordability
4:45 - Importance of Following Tax Laws and Rules
5:43 - Target Audience: Small Businesses and Service Costs
7:03 - The Importance of Bookkeeping for Small Business Owners
9:00 - Technology's Role in Reducing Accounting Work
9:50 - AI in Tax Bookkeeping: Speed and Efficiency
12:09 - How Involved Should Business Owners Be in Tax Prep?
14:04 - Customer Support and Handling Special Cases
15:45 - Audit Concerns and Preparing for the Worst
18:00 - Supporting Clients Through Desk Audits
19:01 - Protection and Services During Audits
20:13 - Practical Tax Advice: Home Offices and Vehicle Deductions
22:11 - Advanced Tax Strategies: Real Estate and Depreciation
24:50 - Misconceptions and Viral Tax Myths: Vehicle Deductions
26:30 - Debunking Vehicle Tax Write-offs
28:45 - Missed Deductions: Home Offices and Meals
31:05 - The Future of AI in Accounting and Tax Services
34:07 - Closing Remarks and How to Connect with Ryan
#TaxTips #SmallBusinessSuccess #EntrepreneurFinance
