Best QuickBooks Consulting & Training near Plant City, FL

Yet another reason not to take your tax advice from “gurus” on Tik Tok: A “Marketer” on Tik Tok said he purchases expensive cars, high-end watches, etc., because his accountant told him he’s making too much money and needs to spend the extra on “marketing expenses” each month to bring his income to zero. And innocent tax-payers may take this as actual advice. The reality? There are narrow criteria for what qualifies as a “business expense.” The expense must be ordinary and necessary—and you must receive no personal benefit. Also, $1000 in business deductions does not mean you’re paying $1000 less in taxes. You’ve simply reduced your taxable income—meaning you save only the percentage of that amount you would’ve paid in taxes. It would cost less just to pay the taxes than to make unnecessary purchases in hopes of a deduction. If you can’t take your tax advice from social media gurus, where CAN you get trustworthy tax advice? From a professional. At Kamish & Associates, we have more than 20 years of experience in the accounting industry. We provide tax planning, tax preparation, and other accounting services for small businesses, entrepreneurs, freelancers, and individuals in the Hillsborough County, Florida area. Don’t leave your financial outcomes in the hands of a random Tik Toker! Contact Kamish & Associates today. #taxplanning #smallbusinessowner #taxes #accounting #bookkeeping #accountant #cpa #taxadvisor #tampa #tampabay #tampaflorida...