Tyler Otto, MBA on LinkedIn: Man is there anything more fun than dinner with the softwares that made… (2024)

Nailed It!

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Wondering how I got included with this line-up of exceptional speakers, must be lucky! Catch my session “Get Lucky: The Small Bets that Lead to Big Wins” if you’re attending BKX next week! https://bkx.com/agenda

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Only been working together for three years before finally meeting up in person.Shout out to the man that makes it all happen, Aaron Segel Gusto #ScalingNewHeights

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𝗧𝗮𝘅 𝗧𝗶𝗽 𝗧𝘂𝗲𝘀𝗱𝗮𝘆: 𝗥𝗲𝗻𝘁 𝗬𝗼𝘂𝗿 𝗛𝗼𝗺𝗲 𝗕𝗮𝗰𝗸 𝘁𝗼 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 & 𝗦𝗮𝘃𝗲 𝗕𝗶𝗴! Summer is here! And depending on where you live, it’s peak season for vacation rentals. Why does this matter as a business owner? When rental rates are at their highest, you should consider hosting a retreat/meeting at your home or neighbors’ home for the maximum tax benefits. 💰 Here’s why. The Augusta Rule lets homeowners exclude up to 14 days of rental income from their taxable income, based on relevant market rates, regardless of your income bracket.For business owners with the Augusta rule, you could rent your home to your small business for a meeting/retreat and then receive both a tax deduction at the business level and an exclusion from income at the personal level. A form a “double-dipping” as us tax professionals call it. This also works if you want to rent out your neighbors or friends house for business and they do the same for you, each of you gets to deduct what you paid to use each other’s home. Of course, with all tax advantages, there are limitations: •You must own the property you intend to rent.•The rental property must be located in the United States.•It must be your primary, vacation, or any other personal residence. •The total number of days you rent your property must not exceed 14 per calendar year. •You must charge a fair market rental price at the time of rental. 𝗪𝗵𝗶𝗰𝗵 𝗶𝘀 𝘄𝗵𝘆 𝗽𝗲𝗮𝗸 𝘀𝗲𝗮𝘀𝗼𝗻𝗮𝗹𝗶𝘁𝘆 𝗶𝘀 𝗶𝗱𝗲𝗮𝗹!To learn more about maximizing these tax benefits, reach out for questions or schedule a free consultation. We're here to help with your business tax planning!

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Have an awesome Dad's Day weekend everyone!

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Excited for #SNH24 next week! Looking forward to connecting with fellow firm owners for hot takes and fresh ideas on topics like commoditization, accountant shortages, capacity constraints, and, of course, AI. See you in Orlando!For conference info: https://lnkd.in/gx-qHYBQ#accountingconferences #bookkeepingconferences #accountingindustry #accountingfirms #accountingtopics #CPE #AccountingCPE

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Pardon my French...

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With how low the bar is set, this was one of our best episodes.I got to regale Jeremy on the highlights of the Accounting Today growth forum, highlight the friends we made at Xero (love yall Kelly and Tyler) and Scotty Scarano 🥶❤️🔥 drops the world premier of the Xero ‘s amazing rap!Check it out on this week’s show, Brought to you by TaxDome

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We're counting on our fellow number nerds and parents of teenagers to find a common denominator on this one! One more day until its the weekend but who's counting? 🙋

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