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Augusta Rule 101

AUGUSTA RULE 101

Cost Free
Presentation Length 1.0 hour

Recorded DateDecember 8, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

The Augusta Rule, identified by the IRS under Section 280A, permits homeowners to lease their property for a maximum of 14 days annually without the obligation to declare this rental income on their personal tax return.

Are you looking to grow your firm’s service offerings through lucrative tax advisory services? This course delves into the strategic utilization of the Augusta Rule for tax advantages. Designed for tax professionals, it offers a comprehensive understanding of how to leverage this rule for clients' benefit. The course covers the eligibility criteria, operational mechanics, common pitfalls, and practical examples of the Augusta Rule in action. Additionally, it highlights the critical role of supporting documentation and introduces the efficiency of using platforms like Instead for managing this tax position.

By participating in this course, you will gain the knowledge and tools needed to provide value-added tax positions like the Augusta Rule, enabling your firm's expansion into this rewarding area. 

Learning Objectives:


  • Recognize the basic principles, benefits, and power of the Augusta Rule in tax strategy

  • Determine which clients are eligible for the Augusta Rule and under what specific circumstances it can be effectively applied

  • Describe how the Augusta Rule works in practice, including its implementation and operational nuances

  • Identify typical mistakes and challenges associated with the Augusta Rule and list strategies to avoid these pitfalls

  • Evaluate the significance of maintaining robust supporting documentation and recognize best practices in documentation management for compliance and efficacy

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE

Kyle Deering

Corvee
Senior Vice President of Revenue
[email protected]
(305) 985-7740

Corveelogo

Kyle Deering is the Senior Vice President of Revenue at Corvee, a software and solutions company serving tax and accounting firms. At Corvee, Kyle is an expert instructor for both the Scale Program and the Executive Program of Corvee Tax Advisory Services. Kyle joined Corvee as the Vice President of Sales and quickly began devising innovative ways to assist accounting firm owners in how to properly sell, price, and upsell existing customers. His insights on overcoming pricing scarcity and allowing the customers to believe they are worth what they change helped Corvee customers achieve tremendous success quickly.

Scott Sibik

Corvee
Director of Tax Content & Calculations
[email protected]
(305) 985-7740

Corveelogo

Scott Sibik is a seasoned tax professional leading the tax product team at Corvee, focusing on tax strategy and form calculations. His career in public accounting began with a focus on tax preparation and review at two top 100 firms, culminating at BDO USA, LLP. His industry expertise, while extensive, primarily concentrated on manufacturing, construction, and high-net-worth clients. At BDO, he was also selected to join the firm’s data analytics enthusiasts group, tasked with leveraging technology and client data to create meaningful and impactful deliverables. Currently, at Corvee, Scott applies his extensive experience as a tax professional to ensure accurate deductions, tax, and savings calculations in both CTPS and Instead, contributing significantly to the effectiveness and reliability of these platforms

About Our Presenter

Corveelogo
Corvee (www.corvee.com) provides tax, accounting, and financial advising firms with the ability to make smarter tax decisions for their clients while growing and optimizing their firm. The company’s flagship product, Corvee Tax Planning software, quickly and efficiently provides firms a sophisticated but simple tool to formulate a tax savings calculation, develop a proactive and strategic tax plan and streamline client collaboration