Business Owners: Do This to Pay as Little Tax as Legally Possible | What Qualifies as a Business Expense? | Robert Gauvreau | Part 2
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
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On today's episode, Darren and Christina are joined by Robert Gauvreau for part 2 of their series with him! In Part 2, Robert is breaking down tax credits vs. tax deductions, some of the tax credits that are available to business owners, what qualifies as a business expense as well as whether or not you should own a vehicle with your business or personally. Tune in now!
Show notes:
00:00 - Introduction
1:40 - Tax credit vs. tax deduction
3:00 - Common tax credits for business owners?
4:00 - How do you get tax credits as a business owner?
6:35 - The most popular tax credits for business owners
8:25 - What qualifies as a business expense?
12:40 - Recommended software for doing taxes for your business
16:30 - Business expenses that a lot of business owners don't know are business expenses
21:40 - Car ownership: business vs. personal
30:00 - A couple more tips from Robert
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