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 […]
Self Employed Tax Deductions: The Complete List
Taxes are an inevitable part of being a small business owner. If you own your own business or work as an independent contractor, you know that your tax bill can […]
Best Retirement Plans for Small Businesses
Traditional employees aren’t the only ones who can access tax-advantaged retirement accounts. In fact, freelancers and contractors have even more options for retirement savings. Two of the best retirement plans […]
Top 5 Airbnb Tax Deductions For Hosts
Airbnb tax deductions can help hosts save a bundle at tax time. Each deduction reduces your tax liability, so they play an important role in tax planning. There are tons […]
Are Credit Card Rewards Taxable?
Many lenders offer credit card rewards as an incentive to attract customers. These bonus goodies come in the form of cash, account credits, airline “miles”, and much more. Previously, only […]