Tax Hive Blog

Enjoy these timely and informative articles that can help you make informed decisions about your business.

Can my business pay my child's college tuition?

Can my business pay my child’s college tuition?

Question: Can my business pay my child's college tuition? Answer: As a business owner and parent, your child's college tuition cannot be considered a business expense. However, you could hire ... READ ARTICLE
What Is the Best Business Entity for Me?

What Is the Best Business Entity for Me?

Question: What is the best business entity for me? Answer: In simple terms, the best entity for you depends on many factors, including what you sell, your market and industry, ... READ ARTICLE
strategic-tax-planning-for-business

Strategic Tax Planning for Business (with Tips and Examples)

“If you fail to plan, you are planning to fail” – Benjamin Franklin. Failing to develop and implement a great strategic tax plan for business is a sure-fire way to ... READ ARTICLE
What Is the "Augusta Rule" (Section 280A) and How Does it Work?

What Is the “Augusta Rule” (Section 280A) and How Does it Work?

Question: What is the "Augusta Rule", and how does it work? Answer: The "Augusta Rule" is a tax deduction for business owners. In summary, IRS Section 280A provides a way ... READ ARTICLE
For Business Meetings Under the Augusta Rule, Can I Use Personal Furniture?

For Business Meetings Under the Augusta Rule, Can I Use Personal Furniture?

Question: Under the Augusta Rule, do I need to rent business furniture, such as tables and chairs, or can I use my owner personally-owned furniture? Answer: The "Augusta Rule" is ... READ ARTICLE
Can I Deduct Cleaning Fees Under the Augusta Rule?

Can I Deduct Cleaning Fees Under the Augusta Rule?

Question: Can I Deduct Cleaning Fees Under the Augusta Rule? Answer: The "Augusta Rule" is a tax deduction for business owners. The rule (Section 280A) allows homeowners to lease their ... READ ARTICLE
Do I Need to File Separate Schedule Cs for Each Business?

Do I Need to File Separate Schedule Cs for Each Business?

Question: I have multiple businesses. Do I need to file a separate Schedule C for each business, or can I combine them into one? Answer: While there are no tax ... READ ARTICLE
Can I Use the Augusta Rule on More Than One Property?

Can I Use the Augusta Rule on More Than One Property?

Question: Can I Use the Augusta Rule on More Than One Property? Answer: The "Augusta Rule" is a tax deduction for business owners. The rule (Section 280A) allows homeowners to ... READ ARTICLE
What Is a Qualified Retirement Plan (QRP) and How Does It Impact Taxes?

What Is a Qualified Retirement Plan (QRP) and How Does It Impact Taxes?

Question: What Is a Qualified Retirement Plan (QRP) and How Does It Impact Taxes? Answer: A Qualified Retirement Plan (QRP) a pension plan for self-employed workers that allows tax deferment ... READ ARTICLE

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