Episode 3: Interview about the New Tax Law with CPA William Stunkel

Today on the show we reached out to CPA William Stunkel to understand more about taxation for business owners. He touched topics such as how to create a tax plan for your new business, the Do’s and Don’ts of self-employed tax deductions, and things to be aware of when starting a new business. It was wonderful and educational to have William Stunkel at https://www.stunkeltax.com/ on the show.

Show Notes

4:10- Things to be aware of when starting and owning a business

5:50- Recommendations with calculating your business mileage

8:40- When and how to set up a new business with regards to tax purposes

11:31- How pass through businesses can help with taxes

15:17- Do’s and Don’ts of setting up an LLC (or “election” i dont know)

20:55- How to create a plan for setting aside tax money when owning a business

23:35- How to structure your business tax wise

29:42- Setting up your self employed income for tax purposes

33:35- Do’s and Don’ts for using home offices as a tax deduction

38:32- Tips for new business owners and their taxes

40:30- How to get in contact with William Stunkel

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