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Accounting and Tax Tips Blog

How to Avoid Capital Gains Tax on Real Estate Sales

Sep 27, 2020 | Tax Tips

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 its share of the loot through a capital gains tax. Capital gains taxes most commonly apply to...

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Airbnb Tax Planning for Hosts

Sep 24, 2020 | Airbnb Taxes, Tax Tips

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. This post specifically focuses on Airbnb...

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How to Claim Education Tax Credits with Form 8863

Sep 24, 2020 | Tax Tips

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....

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6 Tax Extension Tips for Rideshare Drivers 

Sep 23, 2020 | Rideshare Taxes

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...

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Form 1040EZ: How to File a Simplified Tax Return

Sep 18, 2020 | Tax Tips

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,...

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What is a Property Lien and How to Get Out From One

Sep 11, 2020 | Tax Tips

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...

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