Sharp Tax & Accounting Blog
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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.
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.
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.
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.
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.
Is Your Business Trip Tax Deductible? Understanding the IRS Business Travel Rules
Business travel deductions depend on more than where you went or what you spent. Learn how the IRS looks at tax home, business purpose, mixed business-and-personal trips, temporary assignments, spouse travel, and the records needed to support deductible travel expenses.