IRS Section 280A: The ‘Augusta Rule’ Allows Tax-Free Rental Income from Your Home for Business Purposes

IRS Section 280A: The Augusta Rule

Economy IRS Section 280A: The ‘Augusta Rule’ Allows Tax-Free Rental Income from Your Home for Business Purposes Business & Leadership – February 29, 2024 If you’re new to freelancing or entrepreneurship, Section 280a, referred to as The Agusta Rule or The Agusta Tax Rule, likely covers your home office. Home office deductions are typically granted at $10 per square foot, up to $1500 annually. You might need to utilize more of your home space to run a business effectively. How can you decrease the taxable income from your business earnings? How Business Owners Can Leverage the Augusta Rule As a business owner, can you use your home for business activities…

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Nomi Prins: Discover Hidden Gems Liquid Energy Stocks

Liquid Energy Stocks

Nomi Prins is a former Wall Street executive who made a million dollars a year. But she was tired of seeing Wall Street taking advantage of ordinary people. Now, Nomi Prins has a new mission: to help you build financial security in an unpredictable world.

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Minister proposes changes to JLCs

Weak start to year, but signs of renewed economic momentum

Weak start to year, but signs of renewed economic momentum – Ibec The mechanisms for setting wages for up to 190,000 workers in the services sector may be changed following proposals by the Minister for Jobs, Enterprise & Innovation. Richard Bruton said the measures he had planned would make the system fairer for the lower paid workers who work across various sectors. They include restaurant staff, hairdressers, contract cleaners and other services employees. Last month, a High Court ruling found that the JLC system was “unconstitutional” so Bruton said there was an urgent need to reform the area. The Minister said the new system proposed would help job creation but added that…

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Is Amazon Planning to Delve into the Cryptocurrency Space?

Amazon Coin

The words cryptocurrency and Amazon may soon be conjoined after reports surfaced linking giant online retail store, Amazon, to the registration of various cryptocurrency domains. The domains in question include amazoncryptocurrencies.com, amazoncryptocurrency.com, and amazonethereum.com.

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Making the Most of Fringe Benefits for Business Owners

Fringe Benefits

A fat paycheck isn’t the only way to take money out of your company and it’s not always the most sensible tax-wise. Fringe benefits often accomplish more in the way of tax savings. Review these possibilities with your tax adviser: For Company Owners Loophole: Have your company buy a hefty group term life insurance policy on your life. The premiums will be fully deductible by the company as long as the plan coverage does not discriminate against lower-income employees. Through a quirk in the tax law, this strategy creates tax savings for you. How it works: Say your company pays the premium on a $1 million insurance policy on your…

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What are Tariffs? How are We Personally Affected?

What are tariffs

Tariffs – Is A Trade War Upon The World? The trade dispute that is occurring between the United States and its allies is intensifying. Tariffs from the EU (European Union) could make all types of American goods more expensive all over Europe. For example, you could How do tariffs affect the economy and you personally? see a higher price for a bottle of American whiskey, a new pair of American blue jeans, or even for those who love to ride Harley Davidson motorcycles and are looking for a new “hog” to ride. Conversely, in the United States, manufactures of goods which use steel and aluminum, such as automobiles, will have to…

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The US Tax Bill: Unraveling the Winners and Losers

Trump Passes Tax Bill

According to the 45th US President Donald Trump, “We want to give you, the American people, a giant tax cut for Christmas.” Christmas. A time for giving to others. And American companies are set to receive a relatively large present this year. The tax they pay their government is set to be reduced from 35% to 21%. That’s a significant saving. Can we go as far as saying it is HUGE?!?! And that, in turn, Trump’s administration hopes, will mean presents for everyone. Trickle Down Economics or Voodoo Economics? The logic is that the money these companies save will be invested in America, meaning more jobs and better-paying jobs. Of…

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Black Friday Insider Secrets & Hacks From Employees

Black Friday Hacks Secrets

When it comes to holiday shopping and getting deals, nothing gets people revved up quite like Black Friday. Being from Europe, we find it fascinating that Americans trample each other the day after giving thanks for all they have. But what started it all? And why is it called Black Friday anyway? The phrase “ Black Friday ” was actually coined by the Philadelphia police force in the 1950s. Merchants wanted to take advantage of the out-of-towners coming in for the annual Army-Navy football game. Fearing that if they waited until Sunday to have the sale, many travelers would leave so they could be back at work on Monday morning, so they…

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How The Economic Machine Really Works

How The Economic Machine Really Works

Narrator Ray Dalio shares his economic template which covers: 1. Productivity Growth 2. Short-Term Debt Cycle 3. Long-Term Debt Cycle Transactions are the building blocks of the economy. You take part in numerous transactions every day; it’s what we do. Basically, if you understand transactions, you can understand the entire economy. What is a Market? It consists of all the buyers and all of the sellers making transactions for the same types of things. For example, there is a Wheat Market, a Car Market, a Software Market, etc. The economy is the sum of all the transactions from all of the markets. It is money and credit exchanged for goods…

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