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Tax Time - Impuestos!

It's almost that dreaded time of year.... Tax Time!!

As SMALL businesses, every single dollar is crucial! But why do we neglect all these dollars tax time comes around?

Did you know that you can write off a PLETHORA of your business expenses? I SO promise you it isn't difficult, just tedious!

This year, take advantage of the FREE help video I put together to hand walk you through each line item of your Schedule C, Income and Expense Statement.

Don't be afraid to tally up your expenses! The Intenal Revenue Service (IRS) only wigs out and flags you when things are NOT reasonable and necessary.

For example: a commercial mixer for a candle company or a heat press for a customization business are all reasonable and necessary. What would NOT be reasonable OR necessary is if you tried to write off a Maserati with your T-shirt or candle company.

That is a GIANT red flag to the IRS! and NO bueno!

The IRS also expects a SMALL business LOSS for about 5 years, so don't worry that your little bit of upsidedownness will cause a major tax commotion.

The Startup Phase is the most expensive phase of business. It's where we're just figuring things out and purchasing all of our equipment and supplies. Think about it. How many times must you purchase a sublimation printer or a power washer? Usually just once, upon starting your business. The bulk of your expense comes from startup, and the remaining years just refill supplies and only make huge purchases when stuff breaks down or you level up.

Be sure to gather those receipts, grab your bank statements and a dollar tree notebook to organize all of your expenses.

Your bottom line will thank me! 🥳💰

Help video at What's Poppin' University:

Need more help? Or not really sure what you need?

Book an appt and we'll sort it out!


Lena S.

HHIC Head | Hostess in Charge

What's Poppin' USA

T: 262-4POPPIN

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