Founders and employees of startups should be familiar with the 83(b) election. While the tax term sounds foreign and confusing, it’s quite simple. When startup founders or employees are issued restricted stock (subject to vesting), the stock is taxed at time of grant (when the stock is initially received) or… Read More »Should You File the 83(b) Election in a Startup?
The owners of a partnership have the ability to pay themselves two different ways. Partners pay themselves through guaranteed payments or an owner’s draw. While these sound similar, each has a different tax impact. Also, running a traditional payroll for the owners isn’t allowed since their income must be subject… Read More »Guaranteed Payments or Owner’s Draw?
Most business owners are familiar with the home office deduction. This favorable tax benefit allows business owners to deduct a portion of their home’s rent, utilities, mortgage interest, and property taxes. This deduction is commonly claimed on the Form 8829 of an individual’s 1040 tax return. Since this schedule only applies… Read More »How to Claim the Home Office Deduction as an S Corp
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