Tax Q&A for Business Owners: S Corps, LLCs, Write-Offs, and More

What's in this episode

Every business owner hits a point where the tax questions start stacking up. Can I deduct this? Should I switch to an S Corp? Is this still a business if I have not made money yet? And what happens if I did something before I had my systems set up the right way? In this episode, Mike opens the floor to questions from business owners and breaks down the tax answers behind them. From zero-activity LLC filings and Schedule C concerns to family payroll planning, vehicle deductions, and rental strategies like the Augusta Rule, this episode covers the practical decisions that shape how much tax you pay and how well your strategy holds up. 👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: https://www.taxsavingspodcast.com/starterkit 🚀 Book your free demo call today. Click here or visit: https://taxelm.com/demo/ Chapters (03:22) Do You Need a CPA for a Zero-Activity Partnership Return? A new LLC owner asks about filing a Form 1065 with no business activity. Mike breaks down why even a zero return can be more complex than it looks and what to consider before self-filing. (04:47) Can a First-Year Business Loss Offset W-2 Income? Mike walks through hobby loss concerns,