Are you unsure about what qualifies as a business expense? Confused about when you can start counting them or what happens to expenses incurred before registering your business? In this episode, we'll be diving into all of that and more. Learn about what business expenses you may be missing out on — and what things you may think are an expense but actually aren't. Let’s make sure you're not missing out on any deductions for your business.
In this episode, you’ll hear…
- What business expenses are and why they are so misunderstood
- Whether or not you can deduct expenses incurred before you register your business and which ones count
- Common write-offs many online business owners miss (and things you think you can write off but actually can’t)
Click here to find the full show notes and transcript for this episode.
RESOURCES:
- The Ultimate Bundle®
- Business Expenses | Internal Revenue Service
- Quickbooks // bookkeeping software. Organize and track your business expenses and income with this easy-to-use tool. Get 50% off with my link.
- Blog Post: Can I Charge Business Expenses to My Personal Card?
- Episode 77. Small Business Taxes 101 [Guest Interview with Little Fish Accounting]
- Episode 17. 6 Legal Must Haves for Online Businesses
- Click here to be notified when new episodes of On Your Terms® come out
CONNECT:
- Get Sam's weekly newsletter, Sam's Sidebar
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- Subscribe to Sam's Substack, Beyond Business
- Take Sam's free legal workshop "5 Steps to Legally Protect & Grow Your Online Business"