Hello, im Jacob.
I run a custom powder coating shop where the majority of our work is dirt bike and side by side componets. the shop is located on my home property and we made around 70,000 this year before COGS. We have not done anything with paying taxes yet and my wife also works for the home business. we have 4 children.
here are my questions i hope someone can guide me in the best direction to help.
1. What are some of the best items i should be looking at to reduce my taxes?
2. We purchased to dirt bike to powder coat and display at events. are these considered right offs? how do i go about adding them in the return?
3. is there any helpfull videos for me to watch i have reviewed many youtube videos just curious if someone may know one that hits all the spots 🙂
Thank you so much!
