SEP IRA: The Best Self-Employed Retirement Account?

According to the recent numbers in a Pew Research study, about 16 million people in the U.S. are self-employed. If you are one of them, you already know that building retirement savings is one of the greatest challenges you face. Fortunately, the SEP IRA offers options for building a retirement for the self-employed, so you […]

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The Best Airbnb Bookkeeping System

One of the most important aspects of operating a successful Airbnb is bookkeeping. Proper Airbnb bookkeeping can make a difference in your bottom line and help you operate more efficiently. Let’s explore some bookkeeping solutions for Airbnb that will help make you a successful host. Airbnb Bookkeeping Basics One of the most important considerations for […]

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What Is an IRS 4868 Form? [Free PDF]

  Most adults have needed some slack at one point in time or another. Maybe a young person starting out needs a loan from the parents. In other instances, drivers who missed a stop sign or speed limit indication could ask for leniency from an apprehending police officer. Still other cases may find struggling students […]

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Child Tax Credit 2022: How Much Can You Get?

The IRS child tax credit has been a part of the tax code since 1997. This provision allows you to deduct a certain amount of money from your taxable income if you have a qualifying child. This year, the credit was expanded in an effort to help alleviate the financial difficulties caused by the pandemic. […]

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Should Airbnb Hosts Form an LLC Holding Company? 

If you’re an Airbnb host, one of your top priorities should be protecting yourself from liability. Whether it’s a tenant suing over an injury or a municipality fining you for a zoning violation, the potential costs of hosting can add up quickly.  One way to protect yourself is by forming an LLC holding company for […]

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Home Office Deduction Tips for Airbnb Hosts

If a portion of your home is used for conducting business, you may qualify for a home office deduction. You can choose from a couple of different methods for calculating the deduction. You might also need to know your total deduction for IRS ID verification purposes. We’re going to show you how to get it […]

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