Approximately 10 million individuals file an extension every year, and many of them are homeshare hosts. If you rent on Airbnb, you should consider a few things. This list explains the top three things you should consider before pulling the trigger on your Airbnb tax extension. Check out our special blog post on COVID-19 tax extensions to […]
Airbnb Tax Planning for Hosts
How do you report Airbnb taxes? Estimated tax planning is the best way to ensure that your taxes are properly filed as an Airbnb host. Here are some tips to help you prepare your Airbnb taxes so that you can avoid tax problems. […]
How to Claim Education Tax Credits with Form 8863
If you pay for continued education for yourself, your spouse, or a dependent, you may be able to claim the expenses on your taxes and take advantage of the education tax credits available to you. You can use Form 8863 to report these expenses on your year-end taxes. However, you should take a few things […]
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 aggravation later. If you filed an automatic extension, these tax extension tips can help you prepare […]
LLC Advantages for Freelancers and Small Businesses
Choosing an entity structure for your business is not an easy call. You have a lot of options to choose, but LLCs are one of the most popular. We’ll cover LLC advantages so you can decide whether an LLC structure is the best option for your business.. What is an LLC and How Does it […]
Form 1040EZ: How to File a Simplified Tax Return
For 1040 is the form you use to file your taxes. Currently, Form 1040 is also available as Form 1040A and 1040EZ. The form you’ll need to use depends on various factors, including your filing status, overall income, and how many dependents you’re claiming. However, Form 1040EZ is the simplest version of this form, so […]
Everything You Need to Know About Coronavirus IRA Withdrawals
The coronavirus has been devastating in more than one way. After many states implemented shelter in place orders, many Americans were left in a very vulnerable financial situation. Without the ability to go to work and earn an income, many people have struggled to make ends meet. The CARES act, also known as the Coronavirus […]
Best Invoicing Software for Freelancers and Independent Contractors
Businesses can’t survive unless they’re making money, and invoicing software can help you get paid quickly and efficiently. However, there are dozens of invoicing services on the market, and it’s hard to pick one if you don’t know what you’re looking for. Some companies choose to implement their own invoicing systems, but DIY invoicing can […]
What is a Property Lien and How to Get Out From One
Creditors have a lot of collection weapons in their arsenal, but a property lien is one of the most feared. Property liens create major hassles for both the property holder and any parties interested in buying the underlying assets. If you’re up against a property lien, you probably have a lot of questions. Don’t worry, […]
6 Tips for Avoiding an IRS Audit
No one wants to run afoul of the IRS. Few situations can invoke as much angst as an IRS audit. Although, none really come to mind at the moment. An IRS audit is the result of the IRS wanting more information from you. There are various reasons why an IRS audit may be triggered. The […]