Bank Fees, Cell Phones, Charitable Contributions and Clothing - Line 27A and Line 48 of Schedule C скачать в хорошем качестве

Bank Fees, Cell Phones, Charitable Contributions and Clothing - Line 27A and Line 48 of Schedule C

Learn how to maximize your tax deductions as a realtor by understanding other expenses on Schedule C. This video covers bank fees, cell phone deductions, charitable contributions, and clothing/uniforms. Discover how to audit-proof your deductions and ensure you're getting the most out of your tax return. Don't miss out on potential tax savings—watch now! What’s Covered Overview of Schedule C Line 27a and how to carry items from Part V on page 2 The IRS definition of “ordinary” and “necessary” expenses Bank fees: service charges, overdraft fees, ATM charges — all deductible if business-related Interest income from business bank accounts is reported on Form 1040, not Schedule C Tips for finding overlooked deductions on bank statements Cell phone deductions: rules for business use vs. personal use How to determine a reasonable business use percentage for a shared phone plan IRS guidelines on recordkeeping and proving your deduction Strategies for documenting calls and calculating deductions Why cell phones are no longer considered listed property and what that means for deductions Clothing and uniforms: when you can (and can’t) deduct these expenses Safety gear: steel-toed boots and other protective equipment as deductible expenses Charitable contributions: when they’re deductible as advertising and when they’re not 0:00 Introduction 0:29 Other Expenses Overview 1:45 Expenses Ordinary & Necessary Criteria 2:58 Bank Fees 4:47 Cell Phone 7:07 Audit Proof Cell Phone Deduction 8:15 Real World Cell Phone Deduction 14:36 Charitable Contribution Note (Advertising) 15:40 Clothing vs Uniform 📺 Watch the full playlist for more tax & payroll strategies 📘 Learn deeper tax & business strategies:👉 OvernightAccountant.com 🔔 Subscribe for weekly tax, payroll, and business insights.