Benefits of Starting an LLC in 2025 | Top Write-Offs for New LLC Owners
Video Overview & Insights
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Can these “first year / start-up deductions” still be taken EVEN if the business doesn’t generate any income in the first year? …
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If you are creating a brand-new LLC in 2025, it's crucial to understand which tax write-offs you can claim. The more deductions you're eligible for and the bigger they are, the more money you can save on your taxes. These savings create more financial flexibility, allowing you to reinvest in your business and increase your savings.
What changes would you need to make if you change the kind of business/liability of your LLC? For example, you close your auto repair shop and start a retail business?
In this video, tax expert Karlton Dennis walks you through 7 key write-offs that new business owners can benefit from in 2025. These include deductions for startup expenses, vehicle expenses, and more. Once you understand these write-offs, you can use them to your advantage.
A lot of new entrepreneurs don’t realize how many tax breaks are available to them. If you're just starting out with your business, there’s a good chance you qualify for some of the write-offs covered in this video. This video can help you learn how to optimize your tax savings as a new business owner.
How would it work if you’re in a 50/50 partnership but you recently moved shops because your partner bought a house with a barn that we can run our concrete construction business out of.. so now he’s paying himself x amount for rent but I’m receiving nothing? I do store stuff in my garage/ home can I write off MySpace as well as a business expense?
CHAPTERS:
0:00 Intro
I have a Revocable Living trust and the trust is the beneficiary of life insurance that I will be putting on my kids and grandkids. Can I write off all the commissions of the agent and the premium cost? Or should I start a family office and run it through that?
0:25 #1: Startup Costs
1:14 #2: Home Office Expenses
Can I also deduct education related expenses like an MBA?
3:06 SPONSOR: Bizee
4:27 #3: Employee and Contractor Wages
So do we write it off when we do our taxes?
5:03 #4: Vehicle Expenses
6:12 #5: Fees for Professional Services
If you are getting into content creation would I do an llc or sole proprietorship
6:41 #6: Marketing and Advertising
7:06 #7: Office Space Rent
I need some help to identify the complexity if I hire a part time tutor for my single owner LLC
7:26 Subscriber Question!
8:08 Outro
Good reminder about write-offs — most don’t know an llc can deduct startup costs. For those who haven’t set one up yet, nexaalic is the fastest way to get it filed
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#llc2025 #llcbenefits #karltondennis
Good explanation of something complex
More User Perspectives
Hey Karlton, as always first class video really appreciate it question for you if I’m starting up a business if I wrap the truck, my logo and company on my vehicle, would that qualify it for 100% work use since it’s being used as a billboard as well as 50% work 50% pleasure
@Pomp76why he sound white tho
@NeonBuzzGamesAnyone who is still wondering I have to add that the cost of all of this llc setup is silly comparing to what people think it is, I did mine for like 30-40 usd and state fees. I went with Nexaalic, I think even someone here recommended them.
@4RoveratoPSA: Bizee is not the best for setting up a business. Now back to the video
@whatzit2utho781Excellent analysis as always!
@MindfulHarDevThere is now an administrative exception for home office even when have another office
@jigarpatel1978I love being 37 years old, i love paying taxes every single day! Taxes job application. I love my kids and wife
@Stress27This video to a class across the hall and went over how there can be so many incorrect interpretations of black and white tax code. Saw it again today and got a good chuckle out of it. Disliked, ignored, and hope to never have to hear this trash again.
@mythicalsyn4598If you take public transportation to reach the client at their home, and you provide the service within their home, can you deduct the cost of transportation as a business expense? Similar to how people deduct the miles on their car.
@BorntobeWild.Love to get a mentorship with you G
@jarod_waynefantastic video, dude
@FycdealsHe's willing to schedule a free call but only if you make 300 K or more. Not for new business owners
@FloridaFreedomLoverTrue gems
@973GUSONew business owner here. Your videos are the best I’ve found. Simple, easy to understand, and they cover a lot. Thank you for making them.
@tabithatanner5368Can w2 employees start an LLC and deduct expenses from w2 income if the LLC doesn’t generate enough income? I don’t expect my startup would generate income in the first years as I will continue to have a full time w2 job and my startup work that I could work part time. Is it how some w2 earners in high tax brackets pay less taxes? I’ve been working as w2 employee for 20 years, and wasn’t aware of this :(
@Nrvn512Nice vid
@TripleAVenturesHi Karlton.. My ADU is scheduled for construction this July. Is it bettet to form LLC now or wait till Jan 2026 when my ADU is completed. Thank you.
@arnoldsandiego5377I really enjoyed this content. Thank you 🙏🏾
@NoskoPicassofyp
@shaunsg9322I appreciate when creators just tell it straight. Nexalic was the same way when I filed.
@3sacksThanks for all the hard work. The bizee link is broken, might want to update it.
@proteinaggieThanks for continuing to post
@JoshuaBravadoMascarenasOpening a tattoo barberahop together. Should use a L.L.C or S corporation
@Royal180-h6nThank you! Thanks to Theo Mrtaxwriteoff for introducing me to your videos.
@KingskvmU give the best information 🏅
@kathysloan7107I came across a video that mentioned S-corp vs LLC. According to his info, it seemed more beneficial tax wise doing a S-corp. What is your opinion on a S-corp?
@ssal-xI have an opportunity to work in private lending as a loan broker. I am still talking to the company which requires a little bit of education and then you're basically the way I understand it at 1099 employee. Can I enroll this opportunity as a business? I do also plan to offer other services but I expect the long brokerage to fit the bill for most everything
@reginastrickland-west6407Karlton is the man….. keep up the great work! I’ve been following you for a few months and it’s clear you have a lot of wisdom
@joshs.8003How about the PC? Thx
@jasodadhupan9530Always Great content! Thanks
@TJ-th9hwI'm wanting to start a publishing LLC for my own work. Let's say, in the future, I want to take on a second author under the LLC. How are royalties handled? How would this be taxed?
@lucaspatterson890Awesome
@moereasonsCan you talk about taxes from prop firm trading accounts please?
@TboneTradehouseI Hit $32,590 today. Thank you for all the knowledge and nuggets you had thrown my way over the last week. i started with 5k in last week 2025.... now i just hit $32,590
@Larryjones88What if you an employee of a business and the CFO??
@MoneythedonBRO literally the Kevin Samuel's of Taxes..... I'm So Thankful for your Content.... promise you ima invest more soon as a new business owner ans Subscriber.... You're doing God's work....
@leeshep1156Thank you!
@jeffu2020The rise in tax rates is why I decided to roll over my 401k to a Roth IRA. I don’t want to be 59 and paying taxes on withdrawals from my retirement account.
@Daaannn-g6k