Uploaded September 2025 | Updated September 2026, 1 week ago
Why do business owners pay much less in taxes even when they earn more? It’s not a loophole. It’s not cheating. It’s understanding how the tax code works.
In this video, I’ll explain exactly how business owners, freelancers, and even side hustlers are legally reducing their tax bills by writing off everyday expenses. From your home office, car mileage, and meals — to items you might overlook like subscriptions, travel, and your phone bill — these deductions can add up quickly.
If you're self-employed or planning to start a business, this video could save you thousands. I'll also tell you what NOT to do so you stay compliant and avoid triggering an audit.
Whether you're a gig worker, creator, small business owner, or just tired of watching a big chunk of your paycheck go to the IRS, this is a must-watch.
Let me know in the comments: What’s one thing you didn’t realize was tax deductible?
💜 Enjoy my work? Support me on Patreon!
patreon.com/noellorenzana
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/m0DdAHEjxf8
youtu.be/QgicbfMNYkc
youtu.be/7iTERSXM8fo
Thanks for watching my video on, "How Business Owners Pay Less in Taxes.. Using Everyday Write Offs"
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - Why Business Owners Pay Less Taxes
01:12 - The US Tax Code Rewards Risk Takers
02:16 - Revenue Code, Section 162(a): Business Expense Deductions
03:14 - Home Office Deduction: What Are the IRS Rules and How to Calculate
04:02 - Write-Off Examples You Might Be Missing
05:33 - Laptops, Phones, Electronics, Tax Deductions
07:30 - Vehicle Expenses and Tax Write-Offs
08:04 - How to Calculate Your Vehicle Deduction: The Standard Mileage Rate
08:39 - Vehicle Deductions: The Actual Expenses Method
09:13 - BONUS Tip: Section 179 & Bonus Depreciation
09:55 - Business Meals Write-Offs: What's Deductible?
11:17 - Business Travel: How to Write-Off the Right Way
13:05 - Can I Use Losses From Crypto Investments to Offset Taxes or Get a Refund?
13:45 - Final Thoughts: Use the Tax Code to Your Advantage
Replay Video Link: youtu.be/r7waldUdqvo
#taxwriteoffs #taxwriteoff #taxdeductions #taxdeduction
Why do business owners pay much less in taxes even when they earn more? It’s not a loophole. It’s not cheating. It’s understanding how the tax code works.
In this video, I’ll explain exactly how business owners, freelancers, and even side hustlers are legally reducing their tax bills by writing off everyday expenses. From your home office, car mileage, and meals — to items you might overlook like subscriptions, travel, and your phone bill — these deductions can add up quickly.
If you're self-employed or planning to start a business, this video could save you thousands. I'll also tell you what NOT to do so you stay compliant and avoid triggering an audit.
Whether you're a gig worker, creator, small business owner, or just tired of watching a big chunk of your paycheck go to the IRS, this is a must-watch.
Let me know in the comments: What’s one thing you didn’t realize was tax deductible?
💜 Enjoy my work? Support me on Patreon!
patreon.com/noellorenzana
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/m0DdAHEjxf8
youtu.be/QgicbfMNYkc
youtu.be/7iTERSXM8fo
Thanks for watching my video on, "How Business Owners Pay Less in Taxes.. Using Everyday Write Offs"
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - Why Business Owners Pay Less Taxes
01:12 - The US Tax Code Rewards Risk Takers
02:16 - Revenue Code, Section 162(a): Business Expense Deductions
03:14 - Home Office Deduction: What Are the IRS Rules and How to Calculate
04:02 - Write-Off Examples You Might Be Missing
05:33 - Laptops, Phones, Electronics, Tax Deductions
07:30 - Vehicle Expenses and Tax Write-Offs
08:04 - How to Calculate Your Vehicle Deduction: The Standard Mileage Rate
08:39 - Vehicle Deductions: The Actual Expenses Method
09:13 - BONUS Tip: Section 179 & Bonus Depreciation
09:55 - Business Meals Write-Offs: What's Deductible?
11:17 - Business Travel: How to Write-Off the Right Way
13:05 - Can I Use Losses From Crypto Investments to Offset Taxes or Get a Refund?
13:45 - Final Thoughts: Use the Tax Code to Your Advantage
Replay Video Link: youtu.be/r7waldUdqvo
#taxwriteoffs #taxwriteoff #taxdeductions #taxdeduction
