FFCRA Tax Credits for Self Employed: Family Leave and Paid Sick Leave

Congress passed the Families First Coronavirus Relief Act (FFCRA) to soften the financial impact of nationwide lockdowns. One notable benefit of this program is government-backed sick leave for employees. Self-employed workers and freelancers can also tap into this program by claiming FFCRA tax credits. However, you must meet specific criteria to qualify for these benefits […]

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Is It Cheaper to Buy or Build a House to Expand Your Airbnb Business?

Many travelers are beginning to prefer homeshare platforms over traditional hotels, and platforms like Airbnb and VRBO are growing at an incredible rate. These easy-to-use platforms provide property owners with an easy way to list rentals, and some are making it into a full-time business. If you’re interested in growing your homeshare business, you might […]

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Can a Holding Company Protect Your Airbnb Assets?

Owning a business is very rewarding. However, you could lose everything if you run into legal troubles. For example, creditors could come after your Airbnb properties to cover an old debt. Luckily, you protect your assets by organizing them into a separate legal entity. This type of organization is often referred to as a holding […]

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Quickbooks vs Xero: Which Is The Best Accounting Software?

One of the most important decisions you can make for your accounting process is which accounting software to go with. There are several different options available, but the two that reign supreme are Quickbooks and Xero. Both are very powerful and boast impressive features. So which one should you choose? Let take a look at […]

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How to Calculate Profit Margin and Improve Profitability

Business owners need to understand their revenues and earnings to make effective business decisions. However, it’s not easy to keep track of this information manually because unanticipated expenses often come into play. The profit margin formula helps business owners quickly gauge their company’s financial health. Profits are the ultimate goal for every business, so every […]

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Obamacare and Your Taxes: 2020 Edition

The Patient Protection and Affordable Care Act (ACA), aka Obamacare, came into effect in 2014. Some of the rules changed over the past few years, but it still affects your taxes. President Trump eliminated the penalty for non-coverage, but most of the Obamacare provisions still apply. This brief guide explains how the ACA affects your […]

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