Travel Expense and LIVE Q&A from Hawaii

I making it happen for you. I came all the way here just to shoot a video on travel expense to make it legit. Well, maybe I'm here for my workshop this weekend too. But anyway, I was like, I've got to do my Thursday live. Let's talk about the travel expense because I want all of you, whether you're going to Hawaii or not, to take a travel right off, around Thanksgiving, around Christmas, have your board of directors meeting. I have a client today. Say, Mark, that's what you talk about. You got to talk about the board of directors meeting as like travel expense and board of directors meeting. They come perfectly together. So now if hotel management comes in and says shut the video down, that could happen. I already got. I mentioned the word video and they started to like freak out. This is Hawaii, where it's like mask manias too. So see if we can pull this off. So anyway, I want to give you some tips on the travel write off. I don't have my normal whiteboard, so I'll do my best here without having some of those things. But we're gonna keep it real and do the travel deduction and then I'm gonna do live Q A. So if you have a question about travel, that would be the best since that's the topic today. But I'll field whatever I can and do the best I can. So thanks for watching. My name is Mark Kohler, CPA, attorney, author, podcaster, YouTube personality, and I just love saving taxes and building wealth and protecting all those goodies, so. Oh, thank you, sir. Can't do a podcast in Hawaii without a my time. Now I will point out because I want to give you clear advice during the video here. This is a virgin drink. I know, but you know, you don't need some guy lit up trying to tell you about tax. That was really good. You gotta have a little umbrella too. Anyway, you gotta have it. Not a drink with an umbrella in it when you're quiet. Okay. All right, so I've got my laptop here. Trusty laptop for questions. Alrighty. So my hair is kind of a mess. I did go surfing this morning. North Shore. It was supplied and my video guy confirmed. Cory, right?

Yes. Amazing.

Did I, did I fall at all on the wave?

Not once.

Did not wipe out at all. Not once. These weren't ten footers, mind you. I still killed it. Okay, so travel write offs. Now here's the best part of travel. If you're traveling for business, it's 100% write off. So what we want to do is make sure. Our trip at Thanksgiving, Christmas has a business purpose. Now, maybe you're going to a workshop. I'll tell you about my workshop here in Hawaii, and I've got one in two weeks live on Zoom. But a workshop can be hard during the holidays, right? No one's really holding workshops. So what could you do? Well, maybe you're checking on a rental property where your family lives. Maybe you've got a meeting with a customer, a client. Maybe you're having your board of directors meeting. Maybe you're meeting with a supplier, somebody buy product from for your business, maybe someone you network with that send you clients. Now, if you don't consummate a transaction, meaning actually buy or sell something, you want to make sure it is warm out here. You want to make sure that you document in your notes, on your calendar, on your Google calendar, whatever you're using. Make sure you write who you met with, what you talked about, why you met, and the business purpose for it. Like, I'm going to get more of a sales or more networking going on. So the meeting, you want to really do well at documenting it. If you're going to hold your board of directors meeting, which is one of the easiest, you don't file it with the state. You don't file it with the irs. Now, all of you that have an LLC or a corporation, this is easy. But you don't even have to have an LLC or corporation. I'll come back to those that are just plain old startup mode, side hustle, side gigs, you can still do this too. But for those of you that have an LLC or corporation, we're going to have a board of advisor meetings if you're an LLC or a board of directors meeting if you're a corporation. So what? That means I'm gonna put this laptop in the shade more because it is gonna shut down. It's so hot right now at the moment. So when it's time for questions, I'll grab it. Okay, so what you're talking about with the board of advisors meeting is having a. Golden. Yeah, we're good. We're good. We're good. Totally clandestine right now. This is sweet. How crazy is it? You're watching a tax video undercover here. Okay, so when you do your board of directors meeting, you just pull out a piece of paper and you say, okay, I have a corporation. All of you are on my board of directors. Let me tell you about my business plans for 2022. Here's how I'm going to make money. Here's how I'm going to sell my marketing plan, whatever it is. Maybe you're talking as a family, you've got your kids there, and you're talking about your investments for the upcoming year. Rental properties, crypto, stocks, bonds, mutual funds, whatever you're doing as a family, talk about it. Educate your children. Them educate you. A lot of my kids, they know more about this crypto stuff than I do. So it's like, tell me, teach me, right? NFTs, EFT, blah blah, blah, right? All those acronyms. So get your kids involved and have that meeting. Now, if you're older, single, married, it doesn't matter. Meet with the people you love to vacation with, who you're going to have Thanksgiving with for Christmas. Tell them you want to have a meeting, talk about what your plans are for the upcoming year. Now, I'm going to get to the write off part here, but you have to have a reason for the write off. So if it's an llc, you're going to have to title it Board of advisors meeting because it's a corporation. Board of directors meeting. Here's who attended. Here's what we talked about. You sign it, have them sign it. Done. If you don't have an LLC or corporation, you're just going to call it a board of advisors meeting. Take notes and you're good to go. You're cranking, you're doing the same thing, talking about your business business and what your plans are. Now here's where the write off comes in. If you have a business meeting, when you travel, the day to get there is a write off. The day you have the meeting and the day you travel back is all a write off. 100. So that means your airfare 100%. Airbnb Hotel 100%. Uber rental car 100%. Now I'm going to come back to food, but valet tips, anything to do with the travel to get there, hotels and all the rentals and all that 100 write off. Now if you travel on a Tuesday, you get there on Wednesday, have a meeting, and you try to do business every day. Like let's say Wednesday and Thursday, have a little meeting on Thanksgiving, and then Friday you travel back. We can write off the whole thing. That's, that's awesome. Now, in the process, dining is tricky. It's 100% write off if it's prepared food. This is the cool part of love Donald Trump or hate him. Right before he left office, he said, we need to help all these restaurants that got killed with COVID So what we're going to do is if you needed a restaurant takeout or dine in, 100% write off on its business. Well, when you're traveling, it's business. So any dining is a hundred percent. Just like the airfare, the hotel, the Airbnb and Uber. So when you go, well, Mark, we didn't have our meeting. I look professional here. It's not, it's not the set lights. It's called the sun and we're gonna do it in the shade. But then my face look too dark. Okay. So when it comes to dining, you may say, well Mark, we didn't have food on Tuesday or Wednesday. We have only had food on Thanksgiving day. And talk business. It doesn't matter if you're talking business during the food or not. Your food at the airport to get there, your food at Denny's the morning of or whatever all of your food is. Dining out during that whole trip is 100% write off because you're there on business. So really, really critical. Now let's say your board of directors one day, what could you do the other day? Go out and look at rental property. Hopefully you've got property there. Maybe you're having a meeting again with a customer or a vendor or a client, that helps. But having a two day board of directors meeting, unless you're Microsoft, I'm not seeing that. So be really careful with that. So that's travel. It's a wonderful write off. Maybe some of you have some more questions. It's really straightforward. Let your business pay for it. If you go, my business is just starting out. I don't have a lot of money in it. Put money in your business to pay for it. You say, well, I paid for the airplane tickets with my personal account. That's okay. The business can reimburse you keep a list of all of your expenses. Whether you're going to New York or Park City or Florida or New Jersey or Seattle, wherever you're going, try to make sure you're finding a business purpose every day, as much as possible. Now last point. Let's say you go for five days and two days are business. The other, well, your day to get there and your day to fly back is business.

Talk a little louder.

Two days of business out of three. See, remember, if you're there for five days, this day is business, this day is business because you've got to get there. Then these two days are business because you had meetings or yada yada. Well, if one day is not business, what we're looking at is 1/5 of all of your expenses are not a write off. Now I'm still going to do airfare 100% because you had to get there for your business meeting. But one fifth of everything else is not a write off. Now I guess if you want to be really anal, you can say here's all my expenses four out of five business days. And that one day here were my expenses that day. That bookkeeping would be a freaking mess. So whatever. All right. Okay. I'm gonna jump to Q A and try to wow you guys and see what I can do to help you out. What if we do a seven day cruise? Now that was. Let's see who's that strong? Real or fake? Well, I hope you're real. And by the way, that's My laptop is freaking hot. It is hot. And what you need to do is put my Mai tai here on the train. Hey, I'm going to hopefully keep this laptop. If the laptop shuts down, we're going to call it. We'll see how long it lasts. Okay. So if it's a seven day cruise, let me tell you, cruises are hard to write off. You have to look at the per diem limit per day and you have to do business while you're on the cruise ship. And who wants to do business on the cruise? Who wants to do business on a cruise ship? The IRS has shot down the cruise ship write offs big time. So be careful. You're going to get a per diem write off per day. Make sure you have your board meeting. More than that, unless you're doing trainings and things like that, it's going to be a hard ride on. I like the all inclusives in Mexico or something around like that. Okay. Yes. The audio is too low. I think I'm trying. Real or fake? It's 30 degrees in Pennsylvania. I'm sorry. Just soak it up here. You can see the sweat coming off of me. I didn't expect to sweat this much. All right. Okay. Jason has a mining question. Let's just go there for a minute. Jason says when I'm setting up an LLC for my crypto mining, is there anything in particular to include? Not big enough at the moment for an S corp. We would love to transition to that later on. Jason. Right now. Okay, first of all, an LLC to do your mining. Perfect. You can always make the S election when you have to, which you'll have to do if it's a personal mining operation. What I would think about is and I would ask you if you're in a consult, do you already have an S corporation. Is this your only business operation? If this is your only business operation, set up an llc, you're out to the races. But let's say you've got a construction business and it's an LLC or an S corp or a already llc. Taxes in escrow. Well, I'm going to set up your mining operation as a subsidiary of your main escrow then you're already an escort if you need it. So Jason, my question would be, if you already have an escort, make the LLC owned by your escort. If you don't, just set up your llc, convert when needed. Okay. Musician Mastery says, does this mean a band on tour can write off all food Food while on the tour? Hell yeah. And a Tour Bus 100 write off all the groupies and the, what do you call the guys that help set up all your stuff?

Equipment managers.

Roadies. Can we get you some roadies? Where I get roadies? I need roadies. Okay, roadies. The tour bus, the food. Dude, you're on business, you're a musician. Freaking. If you're making money as a musician, I'm writing off your guitars, I'm writing off your keyboard, I'm writing up the whole deal. Because you're a business music master, you gotta look more into that. ABC123 says how to take real Estate and transfer to business Credit abc, most of you out there, if you're doing rental real estate, you really aren't going to need business credit. You're going to just use long term mortgages to buy your rentals. The people I see using business credit are those doing fix and flips and rehabs and they want to get away from hard money and try to build some corporate credit. So if you're doing picks and flips and rehabs, you're going to set up an entity, start doing your rehabs there, start creating operations and start working on your paid up score. And my book Tax Illegal playbook, I have a whole section on corporate credit. Start working on it and build it up. But you're not going to build it up in your rental llc if you're going to build it up in your fixed hacking your leadership podcast. If I travel with my children, can their flight tickets be written off as well? If I'm flying and hosting my board meeting, love it. Now here's the problem though. If your kids are 5 years old, 6 years, 10 years old, I'm not going to be able to justify them on a board meeting. But when my kids became teenagers at age 14, 15, they were definitely on the board of directors. And think about it. Teenagers know everything, right? So why not have them on the board? They'll tell you you're a freaking idiot. For those that have teenagers. Okay so. But I do put teenagers on the board of directors and I'm okay with that. And then I would definitely write off their airfare and hotel and the whole nine yards for that one day meeting. Travel to get there and back. Other days you're gonna have to peel those off. ABC easy. How do I return your services? Thanks so much. We have a law firm and accounting firm. Get to markjcohler.com you can learn more about the all of our different services. Our IRA self directed Roth IRA company. For all of you that are out there doing those good things. Thank you for looking into us. We're really, really busy right now. Talk to paralegals, find out what options we are. K Mejita says I'm in Hawaii too. See you there. Now on that note, tomorrow and Saturday I'm doing my basic workshop in advance. I know if you're here in Hawaii, we're already sold out and the hotel's giving us a limit of how many people we can have here. But everybody in two weeks from tomorrow I am doing my basic in advance on zoom and you can sign up still at my website, martjcohler.com it's a great investment. I know I'm going to save you thousands of taxes. Seriously, everybody that attends saves money and it's extremely important. Affordable. Under 500 bucks for both days.

And link below.

The link's below. Okay, Corey says the link will be below. And what was I gonna say? Oh, it's a tax write off. It's recorded. If you can't make it for both days or part of it, you can watch it later. Comes with a workbook. You will freaking love it. So if any of you. This is your good. I'm gonna go through my gear and tax strategies. It is so important. So that's December 4th and 5th. December 4th and 5th. I believe so. Check that out. Okay. Musician master, you're the man. Thanks, Mark. I love you man. Okay, do you have any info on one section? Oh boy, I'm just reading questions here. I shouldn't read this one because I don't know the answer, but I will. Candace says do you have any info on section 139, disaster relief for business owners? Not off the top of my head, Kansas we do. When we get into that, I always research with current relief on and I hope none of you experience the need for disaster relief in your personal life or business. But Candice, just do some research and talk to your accountant. Okay? TTA Consulting says need business startup ideas how to launch a business that I'm legitimately studying. Finances, economics and real estate. No income yet, only personal investments, AKA expenses, classes, training, TTA Consulting. All of you out there, if you're studying in school or going to workshops to be a better investor and a better business owner, until you actually start making money doing business, not investments, you've got to go out and sell a product, sell a service. You're never going to be able really to write on traditional college education, but workshops for sure. Training for sure, but only as a. Maybe a startup college cost or once you get your business operational. The biggest recommendation I make to all of you. Gosh, I feel like I'm sweating like a pig here. I know I'm gonna go play in the sun and get a real tan after this. Okay, but all of you out there, one of the best year end tips I can give you. Go out and make some money. Sell some crap on ebay, go paint someone's kitchen, go just do any type of service business you can and just make a little lending. Now you're out of startup mode and we can start writing off more if possible in your small business. So get the business going. That's what I'm trying to say. Because education is not going to be write off in any way, shape or form until at least the business is operational. Okay, I'm going to go back a little farther.

We got a good RV one.

Which one can I write off my

RV if I use both personal and business for business events and personal events,

Someone says, can I write off my RV if I use it for both business and personal? If it's not your primary residence? Now I speak at RV workshops all the time. I love my RV clients, but. So if you're a full time RVer, you're living in your RV and you're cranking around, all I could write off is mileage. There's your answer there. But for those of you that live in a sticks and bricks home, you have an RV and you're traveling to workshops to. To work on your real estate, to work on business. Maybe you're an RV inspector. An rv? Oh my gosh, my RV crew. I'll just say RV repair and inspector. Then your RV becomes a business vehicle. So I would take the number of days that you used it and prorate it. If it was 100 days and you had 50 days business and 50 days personal. I'm gonna write off 50% of the RV. Now you have to have more than 50% use to depreciate it. So try to make sure that those days you're using it personally, you're finding business purpose to be in the rv. If you see another good one, Cory.

Yeah, yeah.

Okay, Frankie says stocks under llc. But how can I trade my crypto under business? Frankie and everybody out there, when you're doing crypto trading or crypto investing, stock trading, that's not a business, it's investments. And I know there's workshops out there that say, well, I want day trader status and all that. You've got to be careful with that. There's pros and cons. You want to avoid self employment tax and it's a tricky classification. But I'll just say this for all of you, and this is me, my crypto training, my investing is not a business. Real estate investing is an operational. Business is obviously a business. But investing is really hard. So try not to think you're going to be able to write off home, office, your laptop, your cell phone by just trading crypto. Now, crypto mining is a business because it's operational. You're providing a service. Watch some of my videos on crypto mining on that. Okay, I'm gonna go back up to

some other questions I had a really good one for. They said, hey Mark, I am a model and influencer on social media and I you and I put my clothes in my posts or videos. Can I write those that clothing off or props?

Okay, so the person asked, they are YouTube personality and they use clothes and they're a model and they want to write off their clothes. Now you said two different things here that are very important. If you are a YouTube personality, you're not writing off your clothes.

If you're an influencer.

Well, even an influencer, I mean I'm a YouTube influencer. I hope for tax illegal. I can't write off my clothes for that. Now there is an entertainment expense option for access exception if you're an entertainer and you're buying clothes and you're getting paid for entertainment. YouTube influencer, it's a whole new classification. You know, I, I might have to do a little research. What if, what if people.

Because there's a bunch of people that will buy out, like buy somebody or pay somebody to wear their clothes for them on, on their channels.

Okay? Now if you're selling clothes and you're gonna pay someone wearing your clothes on an Instagram Very common. You're writing off your clothes because you're producing clothes. But if you're just a personality wearing someone else's clothes or buying clothes for to be on YouTube, I'm going to generally say most accountants would back off and say, no, but maybe I need to look into that. A YouTube influencer and their clothes, are they an entertainer? But see, just because I go out and give a business workshop, I can't write off my clothes in the business workshop. Is it entertainment? I don't know if an influencer is an entertainment. If it's educational in nature, maybe PewDiePie could get away with entertainment. I don't know. Okay, the other thing you said you're a model. Now if you're a model, legit, you're going to be able to write off nails, hair, makeup, lots of things because you're a model. Your body is your product. But what about your clothes? If you're a model, you're wearing someone else's clothes. So why are your clothes a write off? Now if your clothes are a write off because you're doing a video shoot to work on your portfolio and you're a legitimate model, I'd write off those clothes. But see, being a model is different than being an entertainer. And so I think you can have a different set of justifications and rules for that. But I like where you're going with that. And see, guys, this is the beauty of tax planning. If your accountant isn't willing to be creative and talk about these types of things, you got the wrong freaking accountant. So just talk about it. And if your accountant is like, oh no, you can't write that off. You're like, you're fired. We can move on, you know. All right, okay. What is the time frame does it typically take to get a revocable living trust to be able to send crypto from me to the revocable trust wallet? Rambo. Okay, people, first of all, this is a good point. I don't have my trust as the owner of my crypto wallets, I am individually, I guess you could set up an institutional wallet for your revocable living trust and then just transfer your assets to over to that revocable living trust wallet. The problem is when you go to set up an institutional wallet and we do this with charitable trusts, the CRT strategy, getting an institutional wallet is freaking not easy for an LLC or trust. So I don't know. I just. Your. Your trust should incorporate your investments and assets. And it's true. If you have a Maryland stock brokerage account. I want your trust to own it or be the. Yeah, so I wonder if on some of these Institute personal crypto accounts, if you can name a beneficiary and then you would name your trust as beneficiary. I'm going to look into that. So Rambo, that's a great question, but the time frame I applied. You know what's funny? I was just texting a friend that today saying I just got my Coinbase institutional wallet for an LLC. Took me freaking 5 months. 5 months it is not. I've had clients get a cracking institutional wallet in a week. A Coinbase in a week. It's a crap I don't know. So good luck with that. I don't know the turnout. Okay, Marshall, smartest mark, how about retrieving crypto profits in Singapore and bringing those profits home? Okay, this is good everybody. Whether you own rental properties in Singapore or you own crypto in Singapore, if you're a U.S. citizen, you're taxed on your worldwide income. Only Matt Damon in the movie Martian. Even Matt Damon in the movie Martian would have to pay taxes if he sold his potatoes to a Martian. Coming by. Because you're a US citizen, the only country or the only the only territory, you could get some kick ass write offs. Puerto Rico. Puerto Rico, that's it. If you're a U.S. citizen, you are taxed on your inner your intergalactic income. Unless you're living in Puerto Rico and meet. I was at 61. Section 61. Anyway, I forgot at the moment 65. But you got to meet the rules for Puerto Rico's residency. It's a two year strategy. So if you're making the first question on the 10:40 now is did you buy, sell, exchange cryptocurrency at any time during the year? They don't care if that's in Singapore or freaking New Jersey, you're going to pay tax on it. So you make money worldwide crypto wise, don't think you can hide it offshore. IRS is all over it. Be careful. I'm going to go down a little further. Most recent question here. Eldon started my LLC with kkos last week. Does the bank account that the rental income goes into have to be in the state that it is registered in? Well, that's kind of an interesting question. Let me answer it this way, Alvin. Let's say I have a rental property in Arizona. Well, I set up my LLC in Arizona. I want my bank account in Arizona and my rental client is going to pay rent to that LLC bank account. Now if you say, well, I live in California. Well, I don't know if I want you to walk into a bank in California to set up your account anyway. Next time you're in Arizona, set up your account. But here's the trick. If you're going to set up a bank account with a nationwide bank, like D of a Wells Fargo Chase, your tenant can deposit anywhere, online, whatever, But I want you to set up the bank account, its location in the state where you set up the llc. That's the best, because you're trying to create asset protection and legitimacy. So, Ellen, I hope that helps. The girls setting up your LLC at my office are going to send you a bank packet to go open your bank account and try to do it in the state where you set up the llc. We also have referrals for online banking where you can just set up your bank account in a virtual bank account and move money around. It's getting easier to do that. John says, what about gifting cryptos? Well, if I gift Corey $15,000 or $15,000 of crypto, there's no tax to me, there's no tax to him. It's a gift. Now, I don't want to sell that crypto before I get because I'm going to pay tax on the sale. So if I want to just transfer my crypto to him, the long as it's $15,000 or less, I pay no tax, he pays no tax. But if you do more than 15,000, you're going to have to start looking at the gift tax exemption. Limits your lifetime gifting credit. It's complicated, so live with that. Can I write off luxury bags for my laptop? Hell, yeah, you could have a bag for your laptop. This is a write off. My cell phone case is a write off. My cell phones are right off. This drink is a write off, my friends, because I'm traveling for business. Cory, I think it even tastes better because it's a write off. 100% write off. Look at Cory's nachos here. I know, it's disgusting. Cory's nachos 100% right off because I paid for him. And he's, you're on business. He's my guy. He goes around with me and shoots me video. He was shooting video in the ocean today. That's a write off. So I wish I could take an entertainment expense surfing, but I couldn't. But we went and got good food after 100 write off. Okay. Tammy says from Virginia looks beautiful in Hawaii today. It is. Okay. Sorry, I need a Vacation, Victor, come to Hawaii. You got to wear a freaking mask everywhere. But it's good. Okay, I'm gonna just do two. Three more questions. Says I own a commercial shop that is held as a self managed rental. Okay. I would like to use it for my LLC business when I benefit on self employment taxes if my business pays rent to me. Yes. Now everybody Chalene has a good question. Let's say you're a dentist. You got a dental business. You're an escort. Let's say you're a client contractor. You're. You go do painting or construction or cement. That's your operational business. But then you own a shop for all of your gear, your vehicles, your equipment. Well, I want to pay rent to my LLC that owns my shop. It legitimizes the LLC for tax write offs and for asset protection. And what's nice is the rent reduces your operational income so you have to take less salary, thus paying less self employment tax. Let me say this another way. If you're a dentist, you pay self employment tax on your W2 and then everything else is passed. Well, if I pay rent to my own building, I reduce the amount of income that dictates how much my W2 needs to be under the Kohler payroll matrix. So watch my video on s corporations on YouTube, just type Kohler S Corp. I got multiple videos. But Chalene, think about it. Paying rent to yourself reduces your FICA indirectly. That's what you want. I'm sorry everybody. It's so gross here. Okay, Valerie says, isn't America's Samoa also another one besides Puerto Rico? I do not believe so. American territory like Virgin Islands and Samoa don't get the same treatment as Puerto Rico. You have to look into it. It's political. Stephen, how much can I pay my kid for my LLC without withholding any tax? Well, Stephen, first of all, let's say anybody out there with kids under age 18, you want to be paying them before the end of the year. If you pay your kids under age 18 out of an LLC or sole proprietor, you got to read my book or watch some of my videos on paying kids under age 18. If you have an S corp, there's an extra step there. But if you pay your kids under age 18, there's no 1099, there's no W2. You don't withhold anything. You get a write off as long as they're legitimately working in the business. Now if you pay them more than $12,550 this year, they got to file a federal return in Some states, the exemption is less than 12. You got to look at the rules for your state. California is like 6,000 and something. So they might have to pay a. File a state tax return if they're over 6,000, but not a federal if they're under 12,000, if that makes sense. So anyway, Steven, there's no withholding if they're under age 18. Now, if I pay my kids 18 and over with a 1099, there's no withholding. I freaking 1099. They're working on my business marketing or travel with me and helping with workshops or they're going to my board of directors meeting. There's no withholding if I 1099. But my daughter Allison, who works in my business every week, like all the other employees, I have to pay her a W2 because she looks and acts and is like every other employee in my business. So I have to withhold like a W2. So, Steven, I hope that helps get into my book, tax and legal playbook on the chapter of paying family members and just hit YouTube. Paying kids Kohler. You'll see a bunch of videos. Okay, I'm gonna do one more. This is from Karen. She says, I have an LLC that rents out my home for film and tv. Can I write off the furnishing purchase? Now, Karen, if you really are renting out your home for film and TV, that's not your YouTube channel or your business. I don't. Okay, first of all, let's back up. She says, I have an LLC renting out my home. Okay? If you have a personal residence, you're not going to put that in an llc. You're going to put that in your revocable living trust. So I'm a little concerned if you have an LLC for your primary home. Now, if you say, well, Mark, it's like half Airbnb or half bed and breakfast, or I live in LA and there's a lot of movie crews that want to shoot my home. Okay, due to liability protection, I might put it in an llc. But everybody, you don't put your home in an llc generally. Okay, let's say Karen's like, nope, freaking Bosch. They're coming over to shoot video in my house all the time because they love it. Well, okay, if you've staged your home so that movie crews come. Come and shoot video and film and they're paying you, yes, I'm going to write off your furnishings. I'm also going to write off a number of your other expenses. So this is good, everybody, because think about it. This way, if you have an Airbnb rental when you furnish it all, that's a freaking write off. Let's say you have your personal home and you turn it into a rental, an Airbnb. I'm going to write off all your furniture now that it's business. So furnishings are a write off. I just need to understand the business purpose and make sure Karen's not trying to write off paying herself for video shot in her own home. So Karen may be winking, going, well, that was the story. But I don't know. Ruby Cruise might be showing up there. I'm gonna do one last question. This is Toth Goff says. Hey, Mark, I live close to Boise, Idaho and would like to meet up with one of your team members soon. Oh, I want to get everything done at Trust LLC for my rentals and planning. Can we meet face to face? Well, topfkopf and all of you out there, we meet with clients all over the country. I've got 11 tax attorneys, probably about 15 CPAs. We're constantly growing. We're really busy. Sometimes it may take six weeks or more for an appointment. You can start working with paralegals right away. That's point number one. We do video calls, phone calls all day long. If you want to meet face to face in Idaho, it's in eastern Idaho. You're about five, six hours from Boise. We're over closer to Jacksonville. If you're in Utah, it's not Salt Lake, it's down in Cedar City, which is closer to Vegas, down in the Red Rock deserts of Southern Utah. If it's in Phoenix, we're right in the Phoenix office. We also have an office in Irvine, California, right at the junction of the 405 and 5. So if you want to meet face to face, just let the team know you're going to be coming into town. We'd love to see you, but do I see? Not that close. All right, everybody, let me say this. I waited till the end of the podcast and we'll throw this out. I have a special on Cyber Monday. Not Black Friday. Cyber Monday, 30% off all my digital products, one day only. So if you'd like keep make sure you're signed up on my newsletter list. It's free. I do a newsletter every week. Try to. And with that you'll get an email announcement for my Black Friday special. Also, maybe note your calendar. Log on to Mark's website on Monday after Thanksgiving. So big discount for those that want my online videos. I shoot new ones all the time. Once you're a member. Right now there's no monthly fee. We change that. I had a good friend talking about my membership site and how I probably need to change it for 2022, but you'll be grandfathered in. Any of you to buy my videos. It's a lifetime membership right now, so look for that on Black on Cyber Monday. Other than that, two weeks from tomorrow is my basic and advanced workshop live on Zoom. I'm going to go live to my farm with my cows that are in my health savings account, take you to my mining rig live hosted in the local area and we're going to have a lot of fun. So check that out. Lots of good write offs everybody. Thanks for joining me today. Thanks for putting up with my threat and make sure you write off your drinks on your travel deduction this holiday season. See you on the back side.