Employee Tax Expert
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Enrolled Agent, 36 years exerience
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You could not deduct 100% of the tools purchased for the W2 income job on the LLC, they would have to be prorated. For example if you puchased an air compressor...
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Since you have a full time job if you do not want to make estimated payments, you could increase the withholding you are having your employer take out of your c...
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1.Do I need to pay quarterly estimated taxes? How much and when? It would be helpful to pay estimated taxes.Here are the due dates for quarterly estimated tax p...
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You would need to allocate between the two. For example: You use a computer for both. For business A you use the computer 45%, business B you use the computer 5...
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It's common for sole proprietors to run multiple businesses from the same home office. The key is to correctly allocate your expenses between them. Here's how s...
Activity Feed for Loretta P
- Got Cheered for Re: Deduction for home office. 2 weeks ago
- Got Cheered for Re: Deduction for home office. June 25, 2025 4:15 PM
- Posted Re: I have a W2 income job as a mechanic and a single member LLC for my side hustle. Can I deduct the equipment and tools that I purchase for my w2 job as they are also being used to repair the LLC equipment. on Get your taxes done using TurboTax. June 25, 2025 4:03 PM
- Got Cheered for Re: Questions about a Side Gig (1099 Income). June 25, 2025 12:06 PM
- Got Cheered for Re: Questions about a Side Gig (1099 Income). June 25, 2025 11:58 AM
- Posted Re: Questions about a Side Gig (1099 Income) on Get your taxes done using TurboTax. June 25, 2025 11:56 AM
- Posted Re: Questions about a Side Gig (1099 Income) on Get your taxes done using TurboTax. June 25, 2025 11:53 AM
- Posted Re: Deduction for home office on Get your taxes done using TurboTax. June 25, 2025 10:25 AM
- Posted Re: Deduction for home office on Get your taxes done using TurboTax. June 25, 2025 9:51 AM
- Posted Re: Pay less taxes/break even? on Get your taxes done using TurboTax. May 28, 2025 11:06 AM
- Got Cheered for Re: LLC from MA to TX. November 13, 2024 6:30 PM
- Got Cheered for Re: COBRA payments - treatment on 2024 return as sole proprietor (schedule C). November 13, 2024 4:28 PM
- Got Cheered for Re: COBRA payments - treatment on 2024 return as sole proprietor (schedule C). November 13, 2024 4:18 PM
- Posted Re: COBRA payments - treatment on 2024 return as sole proprietor (schedule C) on Business & farm. November 13, 2024 4:15 PM
- Got Cheered for Re: IRA contribution limit is incorrect in desktop Turbotax Home & Business 2024. November 13, 2024 3:36 PM
- Cheered Re: LLC from MA to TX for KarenL4. November 13, 2024 3:33 PM
- Cheered Re: LLC from MA to TX for FranklinF. November 13, 2024 3:33 PM
- Posted Re: IRA contribution limit is incorrect in desktop Turbotax Home & Business 2024 on Business & farm. November 13, 2024 3:29 PM
- Got Cheered for Re: LLC from MA to TX. November 13, 2024 1:56 PM
- Got Cheered for Re: self-employed contractor 1099. November 13, 2024 1:28 PM