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Looking into new apartments with my girlfriend and decided on getting a more expensive apartment... but we are going to spend over $1,000 LESS than the cheaper apartment
How? A little tax hack for everyone
(1 min thread)
How? A little tax hack for everyone
(1 min thread)
When you register a your business as an LLC, you can take advantage of the home office deduction
This means you can deduct a portion of your rent/mortgage/utilities/phone if it relates to your business
This means you can deduct a portion of your rent/mortgage/utilities/phone if it relates to your business
In our situation, we were going to go with a cheaper 1 bedroom apartment or a more expensive 2 bedroom apartment
We are going to turn the second bedroom into our office to work at our 9-5’s and operate our ecom businesses
This comes with a huge tax benefit
We are going to turn the second bedroom into our office to work at our 9-5’s and operate our ecom businesses
This comes with a huge tax benefit
We will be able to deduct 20% of our rent since the square footage of the office is 20% of the square foot of the whole apartment
This will be a tax deduction directly from our business profits just like cost of good or shipping would be
This will be a tax deduction directly from our business profits just like cost of good or shipping would be
The monthly savings from the home office deduction will more than make up the increase in price for the second room
Essentially making a huge 2 bedroom apartment *cheaper* than the smaller 1 bedroom
The tax law is your friend, learn how to use it
Essentially making a huge 2 bedroom apartment *cheaper* than the smaller 1 bedroom
The tax law is your friend, learn how to use it
