What can you write off without raising a red flag with the IRS? Credits and deductions you are allowed and how to use them. In this interview, Chris talks with CPA Hector Garcia about tax related topics. Hector answers Chris’ questions on what can be deductible, if you can write off Pro-Bono work, and Hector shares what 3 things you can do to limit your tax liability. Hector is a CPA that shares everything he knows about QuickBooks and Accounting through videos. Check out Hector here https://www.youtube.com/c/HectorGarciaCPA https://hectorgarcia.com/ 00:00 - Start 00:39 - The difference between an Enroll Agent and CPA 01:38 - What does it take to be a CPA 2:40 - Who you are paying more doesn’t mean they’ll be always be more valuable 4:50 - Why Hector is the way he is 10:20 - Can you write off Pro-Bono work on your taxes? 14:19 - What’s the limit on how much you can write off for donating (in California)? 17:35 - Will you be able to write off your donations off what you make? 21:30 - Can you write off a networking dinner? 28:10 - Are there tax benefits for pro bono work? 29:52 - Can donations that are built into the business model be considered a marketing expense? 31:24 - Why Hector agrees with the law 32:12 - DISCLAIMER 34:00 - Is there a finite way to reduce your tax liability? 36:07 - An example for being “rewarded” by writing off an expense 41:18 - Is everything I use to be on camera (skincare, clothing) deductible? 44:21 - Exotic dancer breast implants example 48:46 - How to decide what is a deduction 59:00 - Tax loopholes for the wealthy 1:04:00 - 3 things people can do right now to limit tax liability === 👉Subscribe: https://goo.gl/F2AEbk 👉See our Academy Channel: https://goo.gl/vB9zoP 🎙 Futur Podcast: https://thefutur.com/podcast/ ✍️ Futur Blog: https://thefutur.com/blog/ — Love the content? Become a sustaining member for $5/mo today. https://goo.gl/nwekfL BOOKLIST – Essential Reading for Creative Professionals: https://bit.ly/biz-booklist Essential Design Books: https://bit.ly/futur-design-books Kits & Proposals: https://goo.gl/mSjuWQ Visit our website: https://www.thefutur.com FREE resources: https://goo.gl/Qh6gHr — We love getting your letters. Send it here: The Futur c/o Chris Do 1702 Olympic Blvd. Santa Monica, CA 90404 USA — AFFILIATE LINKS* 🙏 Support The Futur by purchasing through our affiliate links: Amazon: http://bit.ly/thefuturishere Webflow: https://webflow.grsm.io/thefutur Retro Supply Co.: http://bit.ly/2GW8gzR Creative Market: https://goo.gl/g4jlTE Design Cuts: http://bit.ly/2GSsAR3 ✍️ Sharpen your skills by taking a course, using our affiliate links: School of Motion: http://bit.ly/futur-som Bring Your Own Laptop Tutorials: https://byol.me/thefutur Skillshare: https://skl.sh/34z8qVj 🎧 Do you like the music? Check out the music libraries we use in our affiliate links below: Epidemic Sound: http://share.epidemicsound.com/thefutur Artlist: http://bit.ly/2uWdna7 Get our FAVORITE notebook from Baron Fig: https://baronfig.com/?ref=zQoKL *By making a purchase through any of our affiliate links, we receive a very small commission at no extra cost to you. This helps us on our mission to provide quality education to you. Thank you. — Host: Chris Do Producers: Mark Contreras / Jona Garcia Cinematographers/Editors: Stewart Schuster, Jona Garcia Live Editor: Jona Garcia Futur Theme Music: Adam Sanborne http://www.adamsanborne.com Typefaces: Futura, DIN, Helvetica Now, Calibre, Knockout, Champion Gothic