@comfortoverchaos: A lot of people teach you how to make money. Not enough people teach you how to manage it. This simple allocation strategy has helped me operate my ILH with fewer financial surprises. ⚠️ Disclaimer: This is not financial or tax advice. This is simply what has worked for me. Please consult your accountant or tax professional for advice specific to your business. Comment MONEY if you’d like more behind-the-scenes business content about running an Independent Living Home.
Are there any tax write offs with this type of business?
2026-08-24 23:38:20
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Will Bunn :
Ok I’m all in where do I start
2026-08-16 17:59:57
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💋 Candy 💋 Live Host 💋 :
I’m licensed by IRS and you’re right. LLC you need to save 15.3% for SE tax but 30% is better to include state. When you start making over $40k start looking into S Corp and if you don’t really want to bother a lot look into a C Corp. it’s so much easier in my opinion. I LOVE a flat tax rate and allowing the business do fund your lifestyle without having to worry about payroll or draws! 😍
2026-08-26 23:14:13
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Preonda Graham :
I’m in work still trying to get mine off the ground. I just gotta get the first month rent and the items for the house and get my waiting list set up.
2026-07-30 22:31:08
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old-man-lo :
info please
2026-08-19 16:08:12
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Teresa Bowers503 :
Thank you
2026-08-23 21:36:14
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🦋MIRAH J🦋 :
Hello do you do private one on one mentorship?
2026-08-03 21:30:28
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Erinne Reeves :
This is great information how long do you think it took for you to break even on your property
2026-08-03 19:15:00
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Ms tripple G 💦💦💦🇦🇬🇻🇮 :
good advice
2026-08-25 01:44:28
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Josie :
Love it
2026-08-26 22:15:59
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Crafts&stuff :
Thank you. Following asap
2026-08-05 21:10:31
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mia :
facts
2026-08-19 07:59:18
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charleeezangel1 :
Agreed. Great info.
2026-08-03 16:22:10
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Shoog Luv 💚 :
Have that business plan in place. People be out here playing it all by ear, no way! Lol 30% is steep for taxes though. Business structure helps with that. Good info!
2026-07-31 00:33:40
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Dee Dee :
This was great advice
2026-07-31 14:19:09
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lisajay801 :
Thanks
2026-07-30 23:47:47
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Meeka :
Good advice
2026-07-31 00:08:03
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Toe'nia :
love It
2026-08-03 07:33:07
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Jshepherd106❗️ :
Are you operating under a LLC with EIN number
2026-08-25 12:02:06
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