2 results for tag: S Corporations


Tax-Free Income from 14-Day Augusta Rule for S Corporation Owners

IRC Section 280A(g), also known as the Augusta rule, states:1 “Notwithstanding any other provision of this section or section 183, if a dwelling unit is used during the taxable year by the taxpayer as a residence and such dwelling unit is actually rented for less than 15 days during the taxable year, then— No deduction otherwise allowable under this chapter because of the rental use of such dwelling unit shall be allowed, and The income derived from such use for the taxable year shall not be included in the gross income of such taxpayer under section 61.” Example: Fred rents his home at $3,000 a day for 14 days. Under the Augusta ...

Thinking About Venture Capital Financing for Your Company… Start with this…

Depending on where you’re sitting, you may have heard conflicting market rumblings suggesting that the ongoing economic (Venture Capital) scene is making it difficult for start¬ups seeking to raise capital. Some new companies have not seen or felt much of an impact from a tightening market, but, they may have noticed diminishing valuations, re-cutting of “deals”, and at times, deferred closings. If you’re like us at Morris + D’Angelo, we believe that there are plenty of deals to be done. In essence, the market is resilient and more is always available. There are a lot of finance opportunities waiting to be deployed with investors who ...