Go Figure Taxes & Bookkeeping, Inc

05/26/2026

There is a tax strategy hiding inside your own home that most S corporation owners have never heard of it. It is called the Augusta Rule and it lets you get paid by your business completely tax free.

Under IRS Section 280A(g), you can rent your personal home to your business up to 14 days per year.

Your S corporation pays you a rental fee for using the space. The corporation deducts that payment as a business expense.

And you? You do not report a single dollar of that rental income on your tax return. None of it.

The law says that if a home is rented fewer than 15 days, the income is fully excluded. That is a deduction on one side with zero income on the other.

Let me make this real.

Say your S corp pays you $500 per day for 12 days of business meetings held at your home.

That is $6,000 your corporation deducts.
And $6,000 you receive completely tax-free.
No income tax. No self-employment tax. Nothing owed.

But there is one thing the IRS watches closely.

*Your rental rate must be fair market value.
*You need to research what similar homes in your area charge on Airbnb or VRBO.
*Screenshot those listings.
*Keep the records.
*The IRS has disallowed this deduction when taxpayers inflated the rate without proof.
*Documentation is everything with this strategy.
*You need a formal rental agreement between you and your S corporation.
*You need meeting agendas, minutes, and attendance records for every session.
*You need invoices and proof of payment from the corporation to you.

The IRS wants to see that real business activity happened on those days.
Not just a piece of paper saying it did.

A tax preparer files what happened.
A Tax Advisor plans what should happen.

Strategies like the Augusta Rule only work when you set them up correctly in advance.

If you want to explore this for your business, let's talk.

05/18/2026

You work hard to build your business.

And when it comes to passing money to your kids, most owners think gifting is the move.

It feels generous. It feels simple.

First, you earn that money and pay taxes on it at your rate.

Then you gift it, with zero deduction on your end.

Your child gets the money. You get nothing back from the IRS.

Let me explain how the gift tax rules actually work.

For 2026, the annual gift exclusion is $19,000 per recipient.

You can gift that amount to as many people as you want, with no gift tax filing required.

Married couples can combine for $38,000 per recipient per year.

And if a gift exceeds $19,000, you file Form 709 but owe no actual tax.

The excess just chips away at your lifetime exemption of roughly $15 million.

So on paper, gifting looks completely harmless.

But here is the real problem: no deduction, no strategy.

You are simply moving after-tax dollars from your pocket to theirs.

Now compare that to putting your child on payroll in your S corp.

If they do real, documented work, you pay them a wage.

That wage is a business deduction for your S corporation.

It reduces your taxable income at your top marginal rate.

And if their total income stays under the standard deduction, roughly $16,100 in 2026, they owe zero federal income tax on every dollar you paid them.

Think about what that means in practice.

Gifting $16,000 to your child: you paid full taxes to earn it, no deduction given.

Paying your child $16,000 in wages: your S corp deducts it, and your child pays nothing.

Same dollars transferred. Completely different tax outcome.

And it does not stop there.

Once your child turns 21 and works for your company, Section 127 opens up.

Your S corp can pay up to $5,250 per year in tuition reimbursement.

That amount is deductible for your corporation and completely tax-free to your child.

Stack all of this together and here is what a smart approach looks like.

Wages up to $16,100: deductible and tax-free to your child.

Section 127 tuition reimbursement: $5,250 deductible and tax-free.

Annual gift exclusion on top: $19,000 transferred with no filing required.

That is nearly $40,000 transferred in one year, with real tax advantages built in.

A tax preparer files what happened last year.

A tax advisor builds this plan before the year starts.

If you want to see which strategies apply to your S corp specifically, schedule a FREE Tax Strategy Appointment and we will map out exactly what is possible for your family.
LIMITED SPOTS

05/10/2026

04/29/2026

We have shirts available for anyone looking to help promote our office but also donate to a great charity. Breast Cancer awareness holds a special place in my heart. Too many close woman to me have been kick a$$ hero’s as they battled this disease.
I will be donating the $10 from every purchase in hopes that one day we will not have to post about this anymore.
Shirts are available in Large or X-Large and short or long sleeve.
Message here if you’d like one and we will put it aside for you. 💕

04/23/2026

Celebrating my administrative professionals today who helped to keep me on track and focused this year as the tax business continued to grow. They were there daily to help schedule the appointments by answering the phones and emails, run errands and great our clients.
Karen will be taking over our QuickBook accounts and Shayna will be taking over our Payroll clients leaving me to be able to focus on the Tax preparation and services. I couldn’t ask for two better people to be with me on this journey and share our successes as the office continues to be able to help our clients in every aspect we can. Cheers to you today my friends - love you to pieces!!❤️

04/21/2026

Did you miss the April 15 deadline to file your 2025 tax return and you forgot to file an extension?

Filing your return now and paying as much as you can will help you reduce the amount of interest and penalties on your balance.

Contact us today to schedule your appointment because the sooner the better to avoid more out of your pocket.

04/16/2026

The rush of the tax season is officially over. As I sit here this morning and reflect on the past few months, my heart is so full. Year 2 in business boomed over here. Over 180 new clients walked through the door thanks to all of your referrals. I cannot say enough thank you’s for your support.  Working alongside you is the heart of this business.

A huge thank you to my family and close friends. Your constant reassurance along with daily check-ins help me to keep pushing when some days are more overwhelming than others.  Thank you for believing in me and picking up the slack when my hours at the office are long.

To my assistants, Karen and Shayna, thank you for all your help this season and for being there to not only lighten the load but to keep me focused on the goals I’ve set for myself and the business.  I couldn’t ask for two better people to share this journey with. 

I wish you all a wonderful year and a reminder that although the tax season may be over, the office is always open for any questions or support you need.

Danette ❤️

04/11/2026

This certainly made my heart happy today ❤️
Another shout out to Gypsy Rose Florist for the beautiful arrangement and to Joanna for personally delivering them to me. 😊

04/09/2026

Our office will help you to keep more of your cookies safe. 🍪💵