Tax Hive Blog

Question: Do I qualify for the electric vehicle tax credit? Answer: As of August 16, 2022, owners of electric vehicles have increased requirements and restrictions on claiming the electric vehicle ... READ ARTICLE

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

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

“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

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

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

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

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

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