Did you Know The Government will Pay for your New Apple Iphone?!

4.4 million Americans last year opened an LLC or a small corporation. S corporation. That's a big deal. One of your number one write offs is writing off your cell phone. And there's an IRS ruling that allows you to write off 100% of your cell phone based on a couple rules. Very easy to meet. You're going to love this. So I've got my whiteboard, I got my pen. Now let's just get the cell phone rule out on the table, and then I'll put it in a structure. For many of you, you're a sole proprietorship. I'm going to put sp. Sole proprietorship. Some of you may have set up an llc, which is fine. You're still going to get taxed as a sole prop. As a sole prop, you're going to be putting your tax return on a schedule C, as in Charlie, Schedule C is on your 1040. You could still knock out your tax return yourself if you want, maybe even TurboTax or Tax Slayer. And some of you may have already set up what's called an S corporation. S corp, not an S corp that you'd get in Vegas. That'd be very bad. S Corp, small business. All right? Now, you're the owner of one of these operations, and this is your side hustle, side gig, whatever, your small business. So if you're owning rental property, you're going to be over here with an LLC and having rental property. Now, the cell phone can be written off here under your rental property or under your sole prop, under your ll, your escort. Now listen, if you're getting a 1099 from Uber, Grubhub, if any of you are getting a 1099 from selling crap on ebay, mowing someone's lawn, consulting services, Uber, whatever that means, you're at least a sole proprietor. Now, that's a 1099. And this 1099 is going to go into your schedule C. You're able to write off your cell phone here. We could talk about auto travel, all the goodies, but we're just going to focus on cell phone for a moment. Now, if you have an llc, we're going to write off in the place. If you have an S corp, we're going to write off your cell phone. If you have an LLC for a rental property, I want to write off cell phone. I'm going to give you the rules. But this is what it looks like. This is your structure. Down here is going to be your trust, your 1040. Your Schedule C is going to be this little doohickey right here and get rid of that 1040. So that schedule C is this little return that's going to come down onto your 1040. And then this is your LLC for rentals. And you might have a trust that owns your home. You got life insurance over here. LI Ooh, someone brought me a cold Rockstar. This is for my sponsorship with Rockstar. Tastes so good. Mmm. This is a write off today in the studio. So Sole Prop LLC or S Corp, I want to write off your cell phone here. If you have just rental property and a day job, I'm going to write off your cell phone over on your rental property side in this area maybe going, Mark, what the freak's here. This is where we're doing your Roth IRAs, your 401ks, your HSA, ESA, all these tax free structures. Right now I got a crypto mine in my Roth ira. I got. I can look at my money right now on my phone making cryptocurrency during my broadcast here, but nice hash right here. What's my crypto up today? So this month I've made $524 on my crypto mine. Okay, so cell phone, cell phone, cell phone. Now here's the rule. You can write off 100% of your cell phone cost as long as you can show you have a personal phone line for personal use. It could be a landline, it could be a line attached to your Dish Network, your cable company, whatever. If you're married or living with someone, they may have a personal phone that you share. And then your phone becomes the business line, 100% write off. That means I can also write off the phone itself. Case that goes around it. I want to write off Bluetooth, I want to write off your Apple Watch. All of that related to your cell phone because they're Bluetooth devices. That smartwatch, we're going to write that off as 100% business because you need that phone for your business. This was a case and revenue ruling and listed property rule for all of you that are accountants out there or enrolled agents or tax preparers. You want to look at cell phones as listed property. That's where this backdoored in. So. But you got to be able to show you got a home phone line for personal use. And again, if you're married, boom. It gets better. I'm throwing in some shamwow tiles. No, I'm just joking. Okay, here's where it gets better. In any business organization, I want you to have a board of advisors, B of a board of advisors. That's not bank of America Board of advisors with an LLC or sole proprietor or you're going to have a board of directors if you're a corporation, even if you have just a simple LLC over here, Board of advisors. Now, you may say, well, when I've set up my entity on LegalZoom or whatever, I didn't get that. It's because you're setting up your entities online. We have a very affordable service here at our law firm, setting up entities in every state in the country. We're swamped. We're busy. We're helping clients. They love it. When we set up an llc, we create a board of advisors. Guess what? My kids, I have some teen, one teenager left. My other three or four college. I say three or four. You're like, don't you know how many you have? One of them, Two of them are married. I have my kids cell phones that I pay for that are in the business, either working for the business or as subcontractors or on my board of directors or board of advisors. So I want to write off my spouse's phone, my phone, my kid's phone if they're legitimately working in the business and still have my Winona Rider. Stranger things. Yellow phone hanging on the wall that allows for this write off. There you go. Pen drop. It's that easy. Make sure your business is paying for it. If you're like, mark, I don't have enough money in my business to pay for it. Put the money in there and let it pay for it. I want you to make sure that you are, ooh, nice and cold. Writing off your cell phone.