Do you qualify for a home office deduction

Requirements to Claim the Home Office Deduction Regardless of the method chosen, there are two basic requirements for your home to qualify as a deduction: Regular and exclusive use. Principal place of your business. Regular and Exclusive Use. You must regularly use part of your home exclusively for conducting business. For example, if you use Read more about Do you qualify for a home office deduction[…]

Tax Advantages of S Corporation

The tax advantages of an S Corporation vs sole proprietorship or partnership is typically in the Self Employment tax. With a sole proprietorship or general partnership, all profits are in one bucket that flows out to the owner for taxation. The owner is taxed for income tax and self employment tax. Income tax depends on Read more about Tax Advantages of S Corporation[…]

What are my tax duties as a non-resident-alien and LLC owner

What are my tax duties as a non-resident alien and LLC owner? Answer by Wray Rives CPA CGMA: First off I need to give you a disclaimer that taxation of non-residents by the US is a complex topic.  I am going to give you general answers, but you really should contact a US tax professional Read more about What are my tax duties as a non-resident-alien and LLC owner[…]