Are there tax deductions for stuff like car mileage, cell phone bills, bandit signs if you set up a “doing business as” company or an LLC?
I spend a lot of money on gas from farming different areas and putting up bandit signs, and talking on the phone with sellers. I’d like to know how to set up my business so that I can get a tax deduction for all these things for next year.
Expenses are always deductible. How you structure your business is basically irrelevant. If you have receipts, hire a good CPA and file amended returns for previous years.
Sure the CPAs on here can chime in but if your real estate business is not sole income path, and you want to deduct gas, you many need to keep a mileage log