Sharp Tax & Accounting Blog

Richard Sharp 8/29/26 Richard Sharp 8/29/26

Short-Term Rentals and Taxes: When Losses Can Potentially Offset W-2 Income

Short-term rentals can receive different treatment under the passive activity rules. Learn when rental losses may potentially offset wages or other nonpassive income and what requirements have to be met.

Richard Sharp 8/29/26 Richard Sharp 8/29/26

Cost Segregation Studies: How Real Estate Owners Can Accelerate Tax Savings

Cost segregation can help real estate owners accelerate depreciation and potentially create significant tax savings. Learn how it works, when it may make sense, and why state tax treatment matters.

Richard Sharp 8/28/26 Richard Sharp 8/28/26

Free Products and Brand Deals: When Do Content Creators Have Taxable Income?

Free products, complimentary travel, services, and other brand perks can still create taxable income for content creators. Learn when noncash compensation may need to be reported and why good records matter.

Richard Sharp 8/28/26 Richard Sharp 8/28/26

The FICA Tip Credit: A Valuable Tax Break for Restaurants

The FICA tip credit can provide a valuable tax benefit for restaurants with tipped employees. Learn how the credit works, which tips qualify, how mandatory gratuities are treated, and what restaurants should track to claim it correctly.

Richard Sharp 8/26/26 Richard Sharp 8/26/26

Can Your Business Rent Your Home Tax-Free? Understanding the Augusta Rule

The Augusta Rule can allow your business to rent your home for a legitimate business purpose while you potentially receive the rental income tax-free. Here’s how the rule works, who can use it, and where business owners need to be careful.

Richard Sharp 8/22/26 Richard Sharp 8/22/26

Purported Social Media Influencer Deductions Denied: Business Expense or Personal Spending?

Can social media influencers deduct concerts, celebrity events, travel, and other lifestyle expenses? A recent Tax Court case shows why creating content around an expense does not automatically make it deductible—and why business purpose, timing, and documentation still matter.