Jul 22, 2020 | Legal, Tax Tips
The coronavirus pandemic forced many businesses to close their doors. Unfortunately, the lockdown has a disproportionate impact on smaller firms. Congress recently passed the CARES Act to help the country survive the economic downturn that resulted from the nationwide...
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Jul 20, 2020 | Airbnb Taxes
Did you receive a CP2000 notice from the IRS? If so, don’t ignore it. Usually, the letters warn you about discrepancies between your reported earnings and IRS records. The CP2000 notice isn’t as bad as an audit, but don’t take it lightly. CP2000 is serious...
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Jul 20, 2020 | Airbnb Taxes
A few years ago, cities began to realize that Airbnb rentals were eating into their tax revenues. At the time, Airbnb hosts weren’t paying taxes like hotels, so many US cities set out to change that. Now, many cities make Airbnb hosts pay taxes just like hotels....
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Jul 13, 2020 | Rideshare Taxes
Best Tax Extension Tips for Rideshare Drivers Automatic extensions can give you up to six additional months to file your tax return. The extra time makes a big difference for many rideshare drivers. However, taking a few steps in advice can save you a lot of...
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Jul 10, 2020 | Airbnb Taxes
For Airbnb hosts, classifying as a real estate professional is can have a major impact on your tax liabilities. In this post, we’re going to explain what a real estate professional is and it affects your taxes. What is a Real Estate Professional? The IRS...
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Jun 29, 2020 | Airbnb Taxes
Real estate investment trusts are popular vehicles for large-scale real estate investments, but do they have any application to your short-term rental business? Many publically-listed real estate companies organize themselves as REITs for tax benefits and...
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