A lot is going on right now. Businesses are shut down across the country, and most of us are “working from home” while trying to balance our personal and professional lives.
It’s not easy. Many don’t know what the future holds.
This isn’t my sign but I get it. Some of my clients are having big time challenges. It’s tough right now.
I would suggest that this is the time to double down on what you have control over. To be proactive in what you say and do.
What I’ve observed is that while some people are reacting to the news and allowing themselves to become paralyzed by the uncertain and unknown, others are taking this time to improve their product or service. They’re learning new skills and adding cloud-based services to their customer experience and distribution efforts.
Proactive business owners are doing what needs to be done to pivot and move forward. They’re putting in the time and effort to learn new skills and discover new opportunities.
It’s not easy moving forward. For some, it may seem impossible.
But here’s the thing, being proactive will always keep you moving towards change and improvement. Being reactive will only increase your stress and get in the way of your success.
I know it’s hard, but keep moving forward. Be proactive and make change happen. You got this. You’re awesome!
What motivates you each day? This was one of my FAVORITE conversations in a long, long time. Watch the recorded show above or here on YouTube.
I’ll be doing more live video community get togethers like this each week. Look for them, right here, at my public facebook page MitchJackson.live and make sure to click the “follow” button to be notified about upcoming Zoom video shows.
See below to review the specific questions the “Tax Terminator” answered.
Larry Weinstein, CPA aka “The Tax Terminator” shares WORKING FROM HOME and HOME BUSINESS tax tips!
Join attorney Mitch Jackson and Certified Public Accountant, Larry Weinstein, in their recorded Facebook Live. Learn what records you need to keep, what deductions you can take and get your working from home, home business, and employer/employee tax questions answered.
Question #1: Larry, the government just announced this week some tax filing changes that affect all Americans. What happened and how does that affect people working from home and small business owners?
Question #2: What are the most popular “working from home” business expenses and deductions our audience members should pay attention to? How can they position themselves to maximize these deductions? What type of documentation do they need to support these deductions on their tax returns?
Question #3: If you’re a paid employee working for a big company, and you’re told to work remotely from home, what can you, or your employer do, to maximize their tax benefits?
Question #4: Can people working from home deduct a portion of their rent, or mortgage payment, as a business expense? If so, under what circumstances?
Question #5: What’s the biggest tax saving related mistake you see people working from home, including home based businesses, make over and over again?
Question #6: Do you see any additional tax changes for people working from home? If so, how can we prepare for these?
Question #7: Let’s say you’re working from home and taking advantage of most, or all of the things you shared today. What additional steps can be taken, this month, to help minimize taxes and maximize long term profits (incorporation, LLC, deductions, retirement plans/compound interest/defer or avoid taxes on interest…).
Larry will provide specialized tax advice for people working from home and small business owners. He’ll also share specific tips relating to employees working at home because of the Coronavirus and answer your working from home tax and business questions.
Both Larry and Mitch will discuss the new COVID-19 related business tax issues, regulations and laws and the unique needs working from home employees, and owners of small and large businesses, have when it comes to strategic tax plans.
Several goals of our live video include sharing Larry and Mitch’s combined 60+ years of law and accounting, to help you:
Make smart business decisions that protect your interests;
focus on uncovering hidden tax reductions opportunities to put more money in your pocket, where it belongs;
and help you maximize business deductions to minimize taxes and eliminate tax overpayments