The Best Tax Tips For Freelancers

With the increasing popularity of sites like Upwork, many professionals are embracing freelance work. These platforms allow professionals to build their businesses, supplement existing income, and free themselves from the 9-to-5 grind. As a freelancer, the IRS classifies you as self employed, even if you also have a W-2  job. Whether you’re fulltime or parttime, […]

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Leasing vs Buying a Car: Which Offers More Tax Savings?

Rideshare business owners are facing new tax regulations following the passage of the Tax Cuts and Jobs Act (TCJA) some of which have affected leasing and depreciation tax rules. As a result, Tax Reform means that rideshare business owners now need to reassess the implications of lease vs. buy tax before deciding to lease or purchase new vehicles.Here are some important points to consider in evaluating lease vs. buy tax.Lease Tax Treatment vs. Depreciation ​Depreciation is a tax method tha […] […]

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Easy Ways to Save on Your Airbnb Taxes

Listing a short-term rental with Airbnb or other sites can provide an excellent revenue stream. If you’re willing to make your guests feel welcome and accommodated, it’s even more lucrative. However, the IRS will want its cut when your rental business becomes successful. The IRS expects you to report every bit of income so it […]

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Car Depreciation for 1099 Contractors and Car-Sharers

Carsharing presents a great opportunity for people with cars sitting in their driveway and for entrepreneurs looking to compete with traditional car-rental services. In addition, there can be key tax benefits. If you’ve earned money this year from sharing your car on Relay Rides, Turo, or Maven, you should know that you may be eligible to take a deduction on your taxes for your vehicle. The tax code’s vehicle Section 179 deduction could potentially save you a lot of money on your taxes. Here is […] […]

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How to Find the Best Tax Professional for Your Business

Working with an expert can save you from learning from your own mistakes. And having a tax advisor is a smart choice that can lead to a lot of benefits for your business. Tax advisors aren’t just for tax preparation. They can provide guidance on multiple areas of your business and help steer you towards […]

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Small Claims Court for Small Business Owners

As a small business owner, you work hard to protect your business and your assets. In a perfect world, everyone gets along all the time and agrees and authenticates financial agreements. However, as a small business owner, you may be faced with some disagreements at some point in time. Perhaps a customer damaged your property, […]

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Finding the Best Freelance Tax Expert

With the onset of the internet more and more working individuals have the opportunity to work from home. As a freelancer, you have unlimited potential to earn money and fulfill your dreams because you have the freedom, the operative word, to create your own schedule. You can work as much as you like, take your […]

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Best Tax Tips For Airbnb, VRBO, and Homeaway Hosts

As a short-term rental host with Airbnb, VRBO or HomeAway, you must learn about the possible tax implications of your side gig. In most cases, you’ll be required to pay tax on your short-term rental income. As a result, tax planning is a must if you want to minimize your tax bill and also make […]

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