You really shouldn’t be getting mixed opinions on this, it’s pretty straight forward. Be very careful about paying personal expenses with the company. You can use company dollars all you like but they’re not a deductible cost (aka a write off), you still pay taxes on those dollars you’re using. Like you can’t pay 100% of your mortgage using the business and have it be a write off. If you use 10% of the house for exclusive business use then you pay all of the mortgage payment out of the business, but you can only book 10% as a deductible cost to the business, and the other 90% you’re booking as a distribution that you’re taking from the business. That 90% you will pay income taxes on.

IRS guidelines on home office write offs:

https://www.irs.gov/newsroom/heres-what-taxpayers-need-to-know-about-the-home-office-deduction#:~:text=Therefore%2C someone who conducts business outside of their,be the taxpayer's principal place of business.

Form: 8829 is what you would fill out. https://www.irs.gov/pub/irs-pdf/i8829.pdf

Typically $5 a SF of the exclusive space used for the business to a max of 300 SF. If not using this method, it’s percentage of the house used for the business.

When in doubt ask a CPA, don’t do your own taxes as a business, too many pitfalls in my opinion.

Congrats on the breakout year dude.

Here’s the thing about write offs. Make sure you’re capturing everything you’re entitled to for allowable expenses which looks like you’re trying to do. Always prepare to defend your expenses in an audit scenario (have receipts, etc.). If you write off the $200 a month to your father, that entails giving him a 1099 from the books of your company and he’ll have to pay taxes on that cash he received, so it might not be something you want to do there. Tool expenses, fuel, insurance, miscellaneous material expenses that weren’t for a particular job but you still had to have on hand anyway, make sure you’re capturing all of that. Things you put on your personal credit card, write up an expense report and reimburse yourself from the company.

You’re most likely on a cash basis for taxes so the IRS is going to essentially be looking at your business account balance on 12/31/23 vs 1/1/23 and that’s the amount it’s going to be looking to tax you on. Now there some advantages to this, don’t deposit checks from customers until January meanwhile you buy and pay for the materials you need before the end of the year. If you’re on accrual basis then it’s a different story.

Don’t do the foolish thing and just spend money because you don’t want to pay taxes. So many companies end up being under funded because they spent cash they had on shit they didn’t need because “it’s a write off”. In the best of times a write off is just a ~20-30% discount on a purchase, you’ll still have more money left over by paying taxes then blowing it on an F-350 because you could.

But again this is just dude on the internet talking here, spend the $1,000 and consult with an accountant who can guide you more accurately for now and in the future.

I think you’re going to find companies that raised prices too aggressively and built the company’s growth around those price points going to get slaughtered in the coming year.