Owning a home comes with many tax benefits, but knowing what is tax-deductible can be a little tricky. It gets even more complicated when you have a mixed- or dual-use […]
Mixed-Use Property: Tax Implications for Airbnb Hosts
Do you have an extra bedroom or a granny suite that’s begging to be turned in to a rental? You could rent it as a mixed-use property, also known as […]
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 […]
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. […]
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 […]
7 Tax Tips to Maximize Your Airbnb Deductions
Are you maximizg your tax deduction? Short-term rental hosts are eligible for a variety of tax benefits and deductions. If you want to keep as much of your rental income as possible, you must familiarize yourself with Airbnb taxes. […]
Child Tax Credit: 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 […]
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 […]
Which Entity Fits Your Business Structure? – LLC, S-Corps, and More
Starting a business is exciting, you’re filled with optimism and ready to take on a new challenge. However, the excitement comes with mundane tasks. You could have to open new […]
IRS Hobby Loss Rules: Deductions for Doing What You Love
Have you ever considered turning a hobby into an income-producing activity? Starting a second business around something you love to do can provide outstanding tax benefits. But, before diving […]