When you own your own business or are self-employed, you have many more responsibilities regarding your bookkeeping and finances. It is important to keep accurate bookkeeping for your self-employment income […]
What You Need to Know About Airbnb Service Fees
Listing a property on Airbnb can be a great source of extra income. But, the convenience of using this platform comes at a cost. To pay for its services and […]
Do I Have a Section 1245 Property?: How to Find Out & Why It Matters
As a business owner, you need to buy, use, and – eventually – dispose of the property. And, when you sell something, the IRS wants to get its cut of […]
AirBnB Atlantic City: New Taxes for Hosts – Detailed Guide
Many homeowners use Airbnb to make money from their property, and, as usual, city governments want a piece of the action. Several cities have imposed special taxes on Airbnb and […]
Can an Airbnb Host Qualify as a Real Estate Professional?
For Airbnb hosts, determining whether you should be considered as a real estate professional is very important as it can have a major impact on your tax liabilities. Here is what a real estate professional is and how this status affects how much in taxes you will have to pay each year.What is a Real Estate Professional?According to the IRS, a real estate professional is a taxpayer who spends the majority of his or her time in real property businesses. To meet this specification, the taxpayer mus […] […]
Short-Term Rental Profit Academy Review: Is it Legit?
The short-term rental (STR) industry has seen a massive boom over the last several years. These days, many travelers prefer Airbnb or VRBO over traditional hotels. And this trend has […]
Tax Document Checklist: Don’t File Without these Forms
The countdown is on until tax day. With just a short time away from the tax deadline, if you haven’t started preparing your taxes, there is no time like the […]
Are Your Assets Subject to Personal Property Tax?
Some municipalities use personal property tax to generate revenues for public programs and infrastructure. Each tax jurisdiction has the power to levy their own taxes and set their own guidelines. […]
Everything You Need to Know About Chapter 13 Bankruptcy
Bankruptcy is a last resort for most business owners, but sometimes it’s the best option. Filing for bankruptcy can protect you from your creditors, but it’s a complicated process with […]
How to Avoid Capital Gains Tax on Real Estate Sales
Investing is all about turning profits, but those profits come with a price. Anytime you sell an asset for a financial gain, Uncle Sam wants his cut. The government takes […]