How to Use the Augusta Rule: The Corporate Rent Strategy
There is a massive tax loophole hiding right in your living room, and the IRS isn’t going out of its way to tell you about it. As entrepreneurs, we are always hunting for smart tax strategies and valuable tax deductions. The standard home office deduction is popular, but it is a known audit trigger that […]
Dividend Payout: What Is a Nominee Distribution?
Dividends are one of the best reasons to hold shares, they represent a direct slice of a company’s profits paid out to you, the shareholder. But if you’ve ever checked your brokerage statements or tax forms, you’ve probably seen confusing terms like “nominee distribution” or wondered about “ordinary dividends received as a nominee.” These concepts […]
Understanding Unreimbursed Partnership and Business Expenses
As a partner in an LLC or LLP, you’ve probably paid for business expenses out of your own pocket. Fortunately, you are still able to deduct these. However, the IRS treats these dollars very differently than if you were an S-Corp owner or a standard employee. These out-of-pocket costs are known as Unreimbursed Partnership Expenses […]