Now is a good time to start thinking about your taxes, especially if you are self-employed. It really is never too early to start planning for taxes. The most well-thought tax planning strategies typically yield the biggest tax savings. As a Turo fleet owner, or if you operate a business in the Sharing Economy you […]
Short Term Rental Laws By Region
As an Airbnb host/short term rental host, you will automatically be considered as a 1099 worker by Airbnb. A 1099 worker, also called an independent contractor, is a self-employed person who engages in a business, trade, or profession in which they have the right to control when their work is done and how it is done. As a 1099 business, you will be responsible for paying your own taxes, including social security and unemployment taxes. You’ll have the option to operate as a sole propr […] […]
4 Game-Changing Tax Deductions for Etsy Sellers
Etsy sellers can save a lot of money by taking advantage of tax deductions. If you’re not familiar with tax write offs, you might be surprised when you learn how much you can save. Every business owner and 1099 contractor should take advantage of these tax savings. Most independent contractors can reap significant benefits by […]
How To Get A Tax Return Transcript In 10 Minutes
Tax season proves to be a busy time of year for many people. Obtaining a copy of your tax return transcript can help you easily gather your essential tax info. It is also a best practice to confirm that the information received by the IRS aligns with the forms you’ve received from employers and clients […]
Beyond Pricing For Airbnb, VRBO, & HomeAway
Airbnb has revolutionized the way we travel. With its increase in popularity, other similar sites like VRBO and HomeAway have popped up. For travelers, hosting sites are great because they offer more variety and affordable prices. For hosts, it is a great way to make some extra money. Rates directly impact your ability to full […]
2020 Tax Changes For 1099 Independent Contractors
If you work as an independent contractor or are self-employed it is important to stay up to date on the latest tax changes. As we start gearing up for tax season, you may be wondering what has changed for tax year 2019 (filed in 2020). With the passage of the Tax Cuts and Jobs Act, […]
How To Incorporate Your Airbnb Business
We’re not lawyers, so we can’t give legal advice. However, we can help you understand the tax implications that come with incorporating your Airbnb business. Organizing your home-sharing business into an LLC or corporation protects you from lawsuits and potential damages. If you organize your business into a formal entity, your personal assets are protected […]
Uber Tax Deductions List for Drivers
Tax season is right around the corner, and with that, you may be thinking about ways you can save on your taxes. As an Uber driver, you are generally considered a contract employee or self-employed. Though some states are trying to change that, Uber maintains its drivers are self-employed. As a self-employed taxpayer, you can […]
Do I Have To Pay Getaround or Turo Taxes?
Are you keeping up with your rideshare taxes? You should be aware that your income may be subject to taxes based on a few different important factors. […]
11 Side Business Ideas for 2020
These days, almost anyone can start a business. The rise of shared economy platforms created many opportunities for anyone with an entrepreneurial spirit. Now, every day people can start a side business with little to no upfront cost. Aspiring side hustlers can use the stuff they already own to generate income, so starting a side […]