Tag: small business tax strategies

rent your home to your business tax-free

Can You Rent Your Home to Your Business Tax-Free? Understanding the Augusta Rule

Lower Taxes, Ohio Tax Preparation, Rental Income Tax Strategies, Small Business Tax Consultant, Small Business Tax Tips, Tax Strategies

It sounds almost too good to be true. What if your business could deduct the cost of renting your home for meetings, planning sessions, employee training, or company events, while you personally receive the rental income tax-free? Under the right circumstances, that's exactly what the IRS allows through a tax strategy commonly known as the...Continue reading

Tax Advantage to Paying Family

Is There a Tax Advantage to Paying Family for a One-Time Job?

Lower Taxes, Small Business Tax Consultant, Small Business Tax Tips, Tax Deductions, Tax Preparation, Tax Strategies

Yes—there can be. And in the right situation, it can be a pretty meaningful one. Most people are familiar with the idea of putting their kids on payroll to save on taxes. That works well in some cases. But if your child is older, or your business isn’t set up the right way, that strategy...Continue reading

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