Short-term rentals with average stays between 8 and 30 days sit in the middle of the tax rules. Depending on the services you provide, your income may be passive rental income on Schedule E or business income on Schedule C. This short-term rental tax guide explains the difference. Quick answer: what is a self rental
What Is a Self Rental on Schedule E? Short-Term Rental Tax Rules Read More »
Short-term rentals with an average guest stay of seven days or less follow special tax rules. Many owners assume all rental income is passive. However, the IRS treats these short stays differently. This guide explains how short-term rentals under seven days are taxed and what that means for you. Why short-term rentals under seven days
Navigating the Tax Implications of Short-Term Rentals Under 7 Days Read More »
Saving for retirement is a major goal for many of our clients. Two of the most popular tools are the Roth IRA and the 401(k). Each has its own advantages, and many people use both. This guide compares them so you can decide what fits your goals. Roth IRA: tax-free growth You fund a Roth
Navigating Retirement Savings: Roth IRA vs. 401(k) Read More »
Tax planning isn’t just for businesses. In fact, tax planning for individuals can lower your tax bill, improve your cash flow and help you reach long-term goals. Unlike tax preparation, which looks back at last year, planning looks ahead. Here is how it works and how we can help. Why tax planning for individuals matters
The Strategic Advantage of Tax Planning for Individuals Read More »
In a competitive market, managing your business finances well is key to steady growth and profit. At Flex Tax and Consulting Group, we offer fractional CFO services that move your financial management from reactive to proactive. That way, your business can do more than survive. It can thrive. What is a fractional CFO? A fractional
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Selling U.S. real estate as a foreign owner brings special tax rules. Nonresident aliens face FIRPTA withholding, a U.S. tax return and, in most cases, the need for an ITIN. This guide explains each step so you can plan ahead. What is an ITIN and why do nonresident aliens need one? An Individual Taxpayer Identification
Beneficial ownership information (BOI) reporting has changed a lot since it began in 2024. Today, most U.S. businesses no longer need to file. Instead, the rules mainly apply to foreign companies registered to do business in the United States. Here is what beneficial ownership information reporting requires now. What is beneficial ownership information reporting? The
Beneficial Ownership Information (BOI) Reporting: Who Must File Now Read More »
When a foreign person sells U.S. real estate, the buyer generally must withhold 15% of the sale price under FIRPTA. This excess withholding often far exceeds the seller’s actual tax. For example, a foreign seller might make a $200,000 profit on a $1.2 million sale. That seller might owe about $30,000 in tax, yet $180,000
Understanding Refunds for Excess Withholding Tax and 8288-B Withholding Certificates Read More »
Last reviewed September 30, 2026. The rules below still reflect current California law. Moving out of California can change how your stock awards are taxed. This guide explains California equity compensation rules for restricted stock units (RSUs), incentive stock options (ISOs), nonqualified stock options (NSOs) and employee stock purchase plans (ESPPs). In short, California taxes
California Equity-Based Compensation Guidelines – Move from CA to Other States Read More »
A real estate investment trust (REIT) lets investors own income-producing real estate through shares. REITs get special tax treatment. However, to form a real estate investment trust, a company must meet strict organizational, operational, distribution and compliance rules. Here is how to start a REIT, and the rules it must follow. How to start a
How to Start a REIT: Forming a Real Estate Investment Trust Read More »
An earlier version of this article was written with wikiHow and featured on its website. We updated and shortened it for 2026. Before you can improve your financial health, you need to analyze your current finances. Start by tracking your spending for a month. Then look at where most of your money goes. After that,
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An earlier version of this article was written with wikiHow and featured on its website. We updated it for 2026. If you earn a salary, you still have ways to lower your tax bill. First, you can shrink your taxable salary income with pre-tax contributions to retirement and health accounts. Then you can claim every
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Tax-exempt status doesn’t mean a nonprofit skips the IRS. Even an organization exempt under Section 501(c)(3) usually must file a nonprofit tax return every year. Also, a nonprofit may still owe tax on income unrelated to its exempt purpose, and it must handle payroll taxes for paid staff. Here is how to prepare a nonprofit
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If you run a business from home, you may use more than one room for work. So how many rooms can you count for the home office deduction? The short answer: there is no set number. The rule for the home office deduction Under Section 280A(c), you can claim a home office based on the
How Many Whole or Partial Rooms Can You Use for Your Home Office? Read More »
You likely formed an S corporation to save on self-employment taxes. If so, is your S corporation salary nonexistent, too low, too high or just right? Why your S corporation salary matters Getting the salary right is important, for three reasons. Taxes and penalties. If the IRS finds your salary too low, you will owe
Avoid Trouble: Don’t Let the IRS Set Your S Corporation Salary Read More »
Limited liability companies (LLCs) are a popular choice for small businesses and investment activities. This guide covers the most important things to know about limited liability companies, from legal protection to federal income tax treatment. Who owns limited liability companies? LLC owners are called members. An LLC can have one member or many. Single-member LLCs
All About Limited Liability Companies (LLCs) Read More »
If you run a business from home, you may be using things you first bought for personal use, such as a desk, a computer or a printer. When you start working at home and use those items for business, you may be able to depreciate them. Here is how the rules work. Note: These deductions
Working at Home? Don’t Overlook These Deductions Read More »
Private foundation vs public charity: how the two types of 501(c)(3) nonprofit differ in funding, donor deduction limits, payout rules and IRS filings.
What Is the Difference Between a Nonprofit and a Foundation? Read More »
Selling a home in the U.S. as a nonresident alien raises two big questions. First, can you use the Section 121 home sale exclusion? Second, how does FIRPTA withholding apply? This guide answers both. What is the Section 121 exclusion? Internal Revenue Code Section 121 lets you exclude gain from selling your main home. A
Nonresident Aliens and The Section 121 Principal Resident Exclusion Read More »
One advantage of running a business as a partnership is the right to make special allocations of tax items among the partners. You get the same option if you run your business as an LLC taxed as a partnership. This guide explains how special allocations work and why they matter. What are special allocations? A
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Marrying a non-U.S. citizen changes how you file your U.S. tax return. This guide explains your filing status options when your spouse is a nonresident alien, and the trade-offs of each. Is your foreign marriage valid for U.S. taxes? The IRS looks to state or foreign law to decide whether a marriage is valid. In
Filing Taxes When Marrying a Non-U.S. Citizen Read More »
Restricted Stock Units (RSUs) are a common form of equity compensation, especially in the tech and startup sectors. If you’re based in California—particularly in the Bay Area—RSUs may play a significant role in your overall compensation package. At Flex Tax and Consulting Group, we regularly advise clients in San Francisco, Castro Valley, and throughout the
Understanding RSUs: What You Need to Know About Restricted Stock Units Read More »
Equity compensation is a big part of pay at many tech companies and startups. The three most common types are restricted stock units (RSUs), incentive stock options (ISOs) and nonqualified stock options (NSOs). The tax rules differ for each one. So knowing which type you have helps you plan ahead and avoid surprises at tax
Equity Compensation – ISO, NSO and RSU Read More »
Last updated: October 18, 2026 · By the Flex Tax and Consulting Group team If you drive for your business, the IRS gives you two ways to calculate mileage for taxes: the standard mileage rate or the actual expense method. For 2026, the business standard mileage rate is 72.5 cents per mile for miles driven
How to Calculate Mileage for Taxes: Standard Rate vs. Actual Expenses Read More »
Tenant allowances are payments a lessor makes to a lessee to provide the tenant with funds to prepare the rented space for its intended business use. Generally, the tenant treats a tenant allowance received from the landlord as an ordinary income. Normally, the tenant would recognize income when the allowance received and depreciate the assets
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