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Tax Magic of Start-Up
Start-Up Business Can Increase Your Refund
If you ever had an idea for a business or desire to try the social media realm via TikTok, Instagram or even video game streaming you should start this Business today. In return, when your new business acquires more expenses than income, the resulting net loss will lower your OVERALL taxable income increasing the refund from your W2 income
Unlock Business Tax write-offs
Benefits of a Side-Business
Extra Income
Gain Entrepreneur Experience
Realize Your Idea/Potential
Claim Tax Write-Offs
Reduce Your Average Tax Rate
Increase Your Refund
Conclusion
The US tax code is structured so taxpayers earning money via W2 have very few items that can be written-off and almost none if there is no mortgage interest to push that person over the standard deduction. Therefore most people with solely W2 income have no effective tax write-offs.
In contrast, business owners can write-off ordinary and necessary business expenses against their income, reducing their taxable income significantly.
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Contact us for more information on how starting that side-hustle business you thought about can potentially yield your tax savings this tax season
Our Clients Say
"Igor at TaxMage is very knowledgeable and friendly. He made my tax experience truly simple and most importantly saved me money! I am a health care professional and entrepreneur and understand the value of the dollar. I recommend this to anyone who needs good guys in their corner and their taxes done right."
Konstantyn Romadin, PharmD/RPh
For any inquiries, please call or email us:
(858) 800-2399 | Info@TheTaxMage.com
Our Address
12636 High Bluff Drive STE 400, San Diego, CA 92130
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