Hey ladies, I’m single & a W2 employee and I have officially decided to start my own business…mainly for tax advantage purposes 🫠🫠. Any other single ladies in here that have tips on how to MAXIMIZE Tax deductions for a business. Any support is helpful ❣️

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Hire an accountant! Definitely helps a lot when doing taxes. Of course you will have to do some basic bookkeeping too

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I hear you 100% definitely using my network and free resources as I start off to limit expenses as I increase income. Thanks for the suggestion

Get set up as a Scorp

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I’m definitely not well versed in taxes, but, ChatGPT output compared the two with the following…

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Congratulations on being a business owner. I'm also a business owner and I learned that having a separate bank account for your personal and business is important. Also, when you spend anything on your business save those receipts because you can write it off as a deduction. People don't realize that making any purchases you are being taxed and that can be used as a deduction. For example, your cellphone, travels, car, computer, etc. Anything you use for your business can be deductions on tax. This is the reason why rich people don't pay taxes because of this tax code 162 A, ordinary but necessary. I learned this years ago.

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Congratulations! What business did you start?

Still undecided to be honest ! I have a few ideas but nothing concrete as of yet.

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