TAXES. HOW TO PAY LESS

TAXES SUCK, BUT THEY SUCK A LOT LESS WHEN YOU UNDERSTAND HOW TO DO THEM.

One of the best ways to not have to pay so much in taxes is to hire an accountant to make sure you are getting all the write offs you can.

There's a lot of things people don't know about write offs and what all is eligible as a write off.

Did you know section 179 of the tax code allows you to write off work vehicles that are over 6000 lbs?

What about depreciation write off for your house or rental property?

If you're working from home or bought a place to work from, you can write off market value loss.

Your toys, phones, computers, outfits, and just about anything else you use to make content is a write off.

As i said in other blogs. I highly recommend you get a credit card specifically for purchases for you business. It does the following things.

1.It allows you to easily keep track of your expenses.

2.It allows you to create debt in a good way that will help build up your credit.

3.It allows you to always be operation from a position of borrowed money, and not your own personal capital. So you wont have to spend your savings or personal money on your business.

4.When doing your taxes you can just hand your accountant your credit card bills. Everything is right there for them to write off. Here's a link to some business credit cards with good rates.

Heres a link to the credit card blog that go's more in depth on the subject of which cards are best for content creators.

If you're making more than $10,000 a month i highly recommend hiring an accountant to help you get the maximum write offs you can.

If your just starting out i recommend you go with an online web based accounting program. It will keep track of your businesses spending and earnings. Here's a link to Freshbooks.

I suggest using Freshbooks because its more suited for a small personal business like online content creator. This will make keeping track of everything much easier and is a tax write off.