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R.S.K. Tax & Consulting, LLC
This Week's Tax Q&A Why the Wealthy Borrow Money and Why It Is Different From Being in Debt Many people believe that wealthy individuals avoid debt. The truth is often the opposite. The difference is how they use it. This week, we are answering one of the most common questions we receive from clients. "Why do wealthy people borrow money instead of paying cash? Isn't debt risky?" It is an excellent question, and understanding the answer can completely change the way you think about building...
Is Your Practice Growing Faster Than Your HR Can Keep Up? Growing your practice is exciting—but as your team expands, your HR responsibilities grow too. Many practice owners spend most of their time caring for patients, managing operations, and planning for growth. As a result, HR often becomes something that's only addressed when a problem arises. Unfortunately, waiting until there's an issue can be costly. Is Your HR Keeping Pace? As your practice grows, it's important to make sure your HR...
The Home Office Deduction: Why It Works for Real Estate Agents but Often Fails for Doctors One Room Can Save You Taxes. One Kitchen Table Can Cost You. Many professionals assume that answering emails from home automatically qualifies them for a home office deduction. Unfortunately, the IRS sees things differently. The key issue is a simple but powerful requirement under Section 280A of the Internal Revenue Code: The space must be used exclusively and regularly for business. That single word,...