Mortgage tax deductions are one of the most lucrative write-offs available for Airbnb hosts. Today, we’ll show you how you can calculate and claim the valuable mortgage tax deduction. Mortgage […]
1099 NEC vs MISC: Key Differences and Uses
Modern businesses are increasingly relying on independent contractors to fill jobs and essential roles, and 1099 Forms are becoming more and more common on tax returns. However, determining the right […]
S-Corps for Real Estate: Not a Good Option for Airbnb Hosts
Real estate can be a great investment, but it also comes with some risks. Along with the financial risks of rental property, owning real estate may open you up to […]
Is HELOC Interest Tax Deductible?
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 […]