How it will impact your business
Call the show at 760-784-9109 or email us from our contact page if you have a question. We’ll answer it on the show!
I’m so happy to have back on the show Kasey Ortiz the “Tax Tip Diva!” I first interview Kasey on episode 17 Kasey Ortiz: The Importance of Taxes and Clean Books. Be sure to go back and listen to that episode. Not people know but Kasey is a proud Marine Corp Veteran.
What you need to know
- New tax laws put in place for 2018 have proven to be the most challenging to understand in 30 years.
- Meals and entertainment deductions are no more.
- Meal expenses for business presentations are deductible.
- The 199A deduction offers a 20% reduction of business income from your taxable income - and is a very complicated calculation. Please go to your APP Store and download our “Go Legal Yourself” APP to receive Kasey’s free PDF on this topic.
- The IRS views Bitcoin and Cryptocurrency as “property” so on your taxes, you’ll need to include the fair market value of that property. It will be taxed.
- There are a few tax credits business owners should be aware of: New business owners can receive a $5,000 expense deduction. This means your expense for Kelly’s “Go Legal Yourself! Start-Up Essentials” is completely deductible on your taxes!
- Finally, if you’re in California, be aware you could be subject to 8 different taxes! Otherwise investigate the required ABC’s taxes in your area.
Make sure you visit Kasey online at TheTaxTipDiva.com where she educates individuals in bite-size pieces to help you take the fear out of taxes.
If you have ANY questions at all, please contact Kasey or Kelly from below.
Get your copy of the Go Legal Yourself eBook FREE when you get the APP from your APP Store and also get my latest book “Go Own Yourself” which is available on Amazon from this link.
Guest Contact information
On Instagram @thetaxtipdiva
On Facebook at The Tax Tip Diva
Contact the Queen of Business Law
Kelly Bagla, Esq.
Go Legal Yourself
Email us from our Contact Page