Tax-Saving Series: Part 6 - S-Corp, Reasonable Comp, and Augusta Rule - Palma Financial

Welcome to Part 6 of our Tax-Saving Series, where we dive deeper into strategies that will help you reduce your 2023 tax burden. In this installment, we explore the effectiveness of S-Corp Election, Reasonable Compensation, and the Augusta Rule.

Unlocking Tax Savings with S-Corp Election

Learn how S-Corp Election can enhance tax efficiency and potentially reduce self-employment tax liability. This strategic move could lead to significant tax savings while optimizing your business structure.

Optimizing Reasonable Compensation

Discover the importance of Reasonable Compensation in your business structure. Striking the right balance can positively impact your tax liability while ensuring compliance with IRS guidelines.

Augusta Rule for Tax Efficiency

Explore how the Augusta Rule can transform your residence into a tax-saving asset. This strategy allows you to rent your home up to 14 days a year without reporting rental income, reducing your tax liability.

Assess your eligibility for these strategies and make informed decisions now. Detailed records and expert guidance are essential to maximize your tax savings potential.

Schedule your Tax Assessment by clicking here, replying to this email, or calling us at (408) 708-9330.

Join us for the final installment, Part 7, of our Tax-Saving Series, where we’ll discuss the Pass-Through Entity Strategy (PTET).