If you’re an American taxpayer, the IRS has a file on you. The IRS tracks tax payments, income, deductions, and other important tax information. If you ever find yourself in […]
Choosing an Entity that Fits Your Business Structure
Most businesses start out as a simple sole proprietorship. However, if your business is successful, you will probably start looking rethinking your business structure relatively soon. Sole props are fine […]
4 Tax Planning Tips For Short-Term Rental Hosts
Airbnb hosting is a first-time business for many, so a lot of hosts aren’t familiar with the intricacies of the tax system. However, a little Airbnb tax planning can help […]
Tax Deductions for Turo Car Rental Fleets
You have to pay taxes when you run a business, even if you’re a Turo host. Fortunately, you can deduct your operating expenses to reduce your tax bill. Track and […]
Understanding Book to Tax Adjustments
Book income measures your business’s financial performance, but it doesn’t always line up with your business’s taxable totals. Sometimes, you need to adjust your book income to accurately report […]
Airbnb Tax Help: Video Walkthrough
One of the most lucrative ways to earn an income in the Sharing Economy is through home-sharing platforms like Airbnb. Airbnb allows homeowners to rent out their vacant properties and […]
The Best Tax Checklist for New Airbnb Hosts
As a new Airbnb host, you will be responsible for saving for taxes along with other regulatory requirements. Before you open your area to your future guests, you might want […]
What is a Profit and Loss Statement?
One of the most significant financial reports for your business is going to be your profit and loss statement. The overall financial health of your business can be displayed […]
Should You Put Your Rental Property in a Trust?
Life is short. Although thinking about the what happens when you or loved ones pass away, forcing yourself to do it ahead of time will make things much easier for your loved ones when it comes dealing with your finances and assets. It is the responsible thing to do. With home sharers who own property, one of the most common questions we get is whether a trust is a valuable vehicle for asset protection and estate planning. Putting your home in a trust offers a number of benefits, […] […]
Bitcoin Taxes for Crypto Traders
Bitcoin and other convertible virtual currencies have gained a lot of traction over the last several years. In its infancy, there was a lot of grey area in terms of […]