Should Gas Prices matter to Business Owners?
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ABOUT JASMINE DILUCCI, JD, CPA, EA
Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS.
Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution
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Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice.
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20 Comments
Find a gas station near where you live that offers a discout on their gas if you use their gas card. Usually you can find discounts of .10c off per gal. Keep your car(s) tuned up, tires rotated and balanced regularly and you can save thousands at the end of the year.
I love your Cheshire-Cat smile.
I dont care about gas prices because I ride a motorcycle 🏍️💨
If you don't have your assistant filling up your car, you're not flexing
Miles
So if you look past his flash and write off bs, his core statement is solid he’s using a car to make money, it’s a necessity so whatever the price it is the cost of doing business… just loose a bit of the ego and write off cliche combo
To put some numbers:
If you make $100 profit and gas costs $50, your income is $50, lets say you pay 10% tax, you end up with a net profit of $40.
If you still make $100 profit but gas is $90, you will pay 10% tax on your $10 income, so you end up with $9 net profit.
Yes, you paid less taxes in the 2nd case ($1 vs $10), but what matters is how much money you end up with at the end of the year 😂
She has no clue. When u use a 1099 u have a choice to write off miles or gas. Sooo the guy is right.
He’s right for all the wrong reasons
Thank you so much for sharing your knowledge and making these videos!
How do I hire you for some tax advice?
Dude still needs to be able to prove the business use percentage of his car regardless if he deducts actual expenses or takes the standard mileage rate.
Dominican dudes still havent gotten better at finances 😂
Damn i just seen the 💍 💔 real tears..
QUALITY?
That guy is full of shot.
It's always the douchiest looking guys giving tax "hacks"
the dude is a loser
I really don’t care about gas price. I don’t go outside
So pretty damn…