Episode 534: “Are the expenses related to my online business tax deductible?”

Today’s episode was recorded on a boat during activity day at the Diamond Mastermind in Costa Rica at the new MOBE Resort, Sunset Del Mar, with Diamond member Marlene Dennis, who lives in Florida in the USA. Marlene wants to know if the expenses that she has that are related to her business are tax deductible.

I explain that I am not a tax expert and can not offer tax advice to our clients.

I talk about my history with my own tax situation and how I neglected to ask for tax advice when I was first getting started; which was a mistake that cost me hundreds of thousands of dollars.

I discuss the importance of having a good tax advisor who will help you to document all of your business related expenses so that you can take advantage of every allowable tax deduction when filing your tax returns.

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