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Selling Your Home to Your S Corporation

Selling Your Home to Your S Corporation

Tags: CPA Sarasota, QuickBooks Bookkeeping, Sarasota Accounting, Tax Planning If you want to convert your home to a rental property, you can improve your tax benefits by selling it to your S corporation. Benefits of Selling Your Home to Your S Corporation Tax savings...
No Business Income, No Home-Office Deduction?

No Business Income, No Home-Office Deduction?

Tags: CPA Sarasota, Overlooked Tax Deductions, QuickBooks Bookkeeping, Tax Planning You may have heard you cannot claim a home-office deduction without business income. That’s not accurate, as I explain below. Points to Consider Claim business deductions with no...
Protect Yourself from Costly Payroll Fraud

Protect Yourself from Costly Payroll Fraud

Tags: QuickBooks Bookkeeping, Sarasota CPA, Sarasota Payroll Setup, Tax Planning When you own and operate a business, you must exercise vigilant oversight, including watching over your payroll taxes. Here’s an example of why Rodney Taylor entrusted his corporation’s...
Tax Implications of Shutting Down a Partnership

Tax Implications of Shutting Down a Partnership

Tags: CPA Sarasota, QuickBooks Bookkeeping, Sarasota Accounting, Tax Planning As you consider winding down your partnership, here’s a concise overview of what you might expect under three typical scenarios of partnership dissolution. Scenario 1: One Partner Buys Out...