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Small business Tax Deductions You Might Not Know About
Numerous entrepreneurs fail to fully capitalize on the array of tax deductions that are readily accessible. Presented below are a few deductions that you should not overlook. Inventory Certain businesses that rely on inventory may engage in manufacturing or purchasing products for resale. In such cases, it is permissible to deduct the expenses associated with…
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What is the Augusta Rule and How Can I Use It?
What is the Augusta Rule? RS Section 280A(g), better known as the “Augusta Rule”, is a special rule in the tax code that allows for the rental of a primary residence for less than 15 days per year, the resulting income is deemed non-taxable. By utilizing this regulation in conjunction with a valid business expense,…
