Home Office for S-Corp shareholder

By |2017-01-12T12:59:09-05:00January 12th, 2017|Categories: Taxes, Uncategorized|Tags: , , , , |

Home Office Deduction

Taking a deduction for your home office is a scary endeavor for many tax payers. They hear the horror stories about people getting audited because they took the deduction. There’s nothing to fear! As long as you fit the requirements and legitimately have home office expenses, then it’s a deduction that can save you a lot of money every year. Official IRS information can be Found Here.

The task, however, gets a little more complicated when you are a greater than 2% shareholder of an S-Corp. Prior to the IRS making a recommendation to use the Accountable Plan and subsequent reimbursements to the employee (or shareholders), taxpayers […]

Taxes for Self-Employed Foreign Citizens

By |2016-12-19T20:02:45-05:00July 28th, 2014|Categories: Uncategorized|Tags: , , , , , , |


If you are foreign, self-employed, and your net earnings (income minus expenses) are more than $400, you need to file and pay self-employment tax. Paying in is necessary to receive credit toward Social Security benefits.

If you are a U.S. citizen or a resident alien of the United States and you live outside the U.S., you are taxed on your worldwide income. However, you may qualify to exclude from your income an amount of your foreign earnings that is adjusted annually for inflation ($91,500 for 2010, $92,900 for 2011, $95,100 for 2012, and $97,600 for 2013). In addition, you can exclude or deduct certain foreign housing amounts.

A qualifying […]

Protect yourself from ID theft

By |2016-12-19T20:02:45-05:00July 11th, 2014|Categories: Uncategorized|Tags: , , , , , , , , |


What’s the best way to minimize your risk of becoming an identity theft victim?

There’s not a lot you can do to stop or prevent identity theft. However, there are some steps to take which will decrease your risk.

  • Don’t give out your Social Security Number unnecessarily.
  • Use a cross-cut shredder to dispose of documents with personal information.
  • Place outgoing mail in collection boxes or the U.S. Post Office.
  • Review bank and credit card statements carefully.
  • Be very careful how you password protect you financial accounts online. A strong password should be more than eight characters in length, and contain both capital letters and at least one numeric or other non alphabetical character. […]