What can my LLC be used for regarding tax write-offs and deductions?

These are great questions about LLC tax deductions! The good news is that legitimate business expenses are generally deductible. Here's what you should know: For your home internet and phone, you can deduct the business portion (80% in your case), but keep good records showing business use. For your home office, if you have a dedicated space used regularly and exclusively for business, you can take the home office deduction - either simplified ($5 per square foot, max 300 sq ft) or actual expenses method. Driving to meet clients is absolutely deductible! Track your mileage with an app or logbook. For 2023, the standard mileage rate is 65.5 cents per mile. Meals with clients or potential clients are 50% deductible as long as business is discussed. Keep receipts and note who you met with and what you discussed. The key with all deductions is proper documentation. Save receipts, note business purposes, and keep personal expenses separate from business ones. Your LLC doesn't change which expenses are deductible - it's about whether they're ordinary and necessary for your business.

After struggling with similar LLC deduction questions last year, I found this AI tool that really helped me sort things out - https://taxr.ai. I uploaded my bank and credit card statements, and it automatically categorized everything and showed me what was deductible for my LLC. It saved me hours of figuring out what counted as a business expense and what didn't. The thing I liked most was that it explained WHY certain expenses were deductible while others weren't, which helped me make better decisions throughout the year.

I was skeptical about trying https://taxr.ai but finally gave it a shot for my photography LLC last month. It immediately flagged several expenses I'd been missing - like the percentage of my car insurance that's business-related and some home office utilities I didn't realize I could partially deduct. The biggest surprise was finding out that some photography workshops I attended were 100% deductible as professional education. It also correctly separated my equipment purchases into immediately deductible items versus those that need to be depreciated. Already saved me about $3,200 in deductions I would have missed. Wish I'd known about this last tax season!

If you need to call the IRS with LLC tax questions (which I definitely did when starting mine), don't waste your time on hold for hours. I used https://claimyr.com and got a callback from the IRS in about 15 minutes instead of waiting on hold all day. You can see how it works here: https://youtu.be/_kiP6q8DX5c I had specific questions about QBI deductions for my LLC that weren't clear from the IRS website, and getting an actual IRS rep on the phone clarified everything. They explained exactly which of my expenses qualified and how to document them properly.

Ok I need to eat my words about Claimyr. I was super skeptical about it working but tried it yesterday after seeing the post here. After THREE failed attempts to reach the IRS on my own (kept getting disconnected after 45+ minutes on hold), I tried https://claimyr.com and got a callback in about 20 minutes. The IRS agent I spoke with cleared up my confusion about LLC filing requirements and vehicle deductions. Turns out I'd been calculating my mileage deduction all wrong for my single-member LLC - I was mixing up the rules for corporations vs pass-through entities. This literally saved me from making a mistake that could have triggered an audit. Not cheap but 100% worth it when you need actual IRS clarification.

Don't forget about the Qualified Business Income deduction (Section 199A) if your LLC is a pass-through entity! You might qualify for up to a 20% deduction on your LLC income. It's one of the biggest tax advantages for small business owners right now.

Biggest mistake I made with my LLC was not separating personal and business expenses clearly. Got audited last year and it was a nightmare trying to prove which expenses were actually for business. Now I have a separate credit card ONLY for business purchases and it makes tax time sooooo much easier. Also keep a mileage log if u drive for business!!! The IRS is super picky about vehicle expenses and a detailed log with dates, miles, and business purpose saved me when I got audited.