Blog
Reasonable Compensation for S Corps: A Guide for Business Owners
If you've elected S corp status for your business, you've probably heard the term "reasonable compensation" thrown around, usually alongside a warning that getting it wrong can trigger an IRS audit.
What Makes a Great Fractional CFO Service
More Nashville business owners are turning to fractional CFO services once their business outgrows basic bookkeeping but isn't quite ready for a full-time finance hire.As a Nashville CPA offering this exact service, we've seen the idea make sense on paper: get executive-level financial guidance without the cost of a full-time salary.
Calculating the Qualified Business Income Deduction for Your Business
If you own a pass-through business, an S-Corp, partnership, LLC, or sole proprietorship, there's a good chance the Qualified Business Income deduction, commonly known as QBI, plays a role in your tax return every year. It's one of the more valuable deductions available to small business owners, but it's also one of the more misunderstood, since eligibility and calculation depend on several moving parts that aren't always obvious from the outside.
How to Properly Disconnect Your Tax Residency When You Move to Tennessee
Moving to Tennessee doesn't automatically mean your former state stops taxing you. Several states are known for aggressive residency audits, and business owners who relocate are often surprised to learn that their previous state can still claim them as a resident long after they've packed up and left, unless they've properly and thoroughly severed ties. If you've recently moved to Tennessee, or you're planning to, understanding what "disconnecting" from your former state actually requires can save you from a residency audit that drags on for months and potentially costs you far more than the move itself.
Reasonable Compensation for S Corporations: What It Is and Why
If you've elected S Corp status for your business, you've probably heard the term "reasonable compensation" thrown around usually followed by a warning that getting it wrong can trigger IRS scrutiny. It's one of the most misunderstood parts of running an S Corp, and also one of the easiest to get wrong without realizing it. Working with a Nashville tax advisor who understands this specific requirement can save you from a costly correction down the road.
Short-Term Rental Strategy: Cash Flow & Tax Benefits
Short-term rentals have become one of the most talked-about real estate strategies in recent years, and not just because of the cash flow potential. Beyond the monthly income, short-term rentals can unlock a specific set of tax advantages that traditional long-term rentals generally can't offer advantages significant enough that they've earned their own nickname among real estate investors and their small business CPA: the "STR loophole."