Peer-to-peer car sharing platforms like Turo and Getaround are popular car rental sites for people who want to earn extra income renting out their car. People use sites like Turo and Getaround for a variety of reasons; they want to make extra income, or perhaps they want to use the service to help pay for […]
VRBO, HomeAway, Airbnb Tax Preparation ‘Done-For-You’ Service
Life is hectic, the last thing you need to worry about are taxes! For VBRO, HomeAway, and Airbnb hosts, you already have a lot on your plate. From booking, marketing, and maintenance, not to mention the rest of your life, you have a lot going on. This is why, tax preparation done for you service […]
Using Mileage Tracking to Maximize Tax Savings
Guest Blog Post By: Andy Pillsbury, VP SherpaShare Mileage tracking can help freelancers secure deductions of $6,000 or more on taxes. The following outlines how apps such as Simple and other can help you maximize deductions. What is mileage tracking and how does that relate to saving money on taxes? The IRS allows freelancers to […]
Best Airbnb, HomeAway, VRBO Tax Accountant Professional
Running a vacation rental business with VRBO, HomeAway and Airbnb can be lucrative. However, there are also a lot of tax and accounting issues to consider. When you use a short-term rental marketplace, you need to carefully track your income and expenses so that you are prepared for tax time. Hiring accounting professionals and an […]
Property Depreciation Basics for Airbnb Hosts
For those Airbnb Hosts who also own their home, depreciating your property can be an advantageous tax deduction that will reduce your taxes. This article provides you with the knowledge necessary to take the depreciation deduction. What Is Depreciation? Depreciation is a method used to determine how much of the assets (e.g. your home) value has been used up. For Airbnb rental owners, the cost of buying or improving your home can be depreciated. Depreciating these assets in a […] […]
Gary Vaynerchuck & Richard Fertig On Short Term Rental University
Airbnb has the potential to earn you thousands per month in short-term rental income. Are you maximizing your income? […]
Best Airbnb Tax Accountant For Top Savings
Airbnb hosts are always looking to increase their income, but what about expenses? As an Airbnb tax accountant, I always recommend that my clients focus on expenses, as well. […]
How a SEP IRA Can Reduce Your Tax Bill
As a self-employed professional or small business owner, you may be wondering about the options that are available to you for saving for retirement. One option that our clients often turn to is a Simplified Employee Pension (SEP) account or SEP IRA Contribution. Here is a brief overview of the advantages of a SEP and […]
Top 3 things you need to know in the sharing economy 2017
More and more people are entering the sharing economy at a record pace. According to a survey done by PwC, 19 percent of the total US adult population has now engaged in a sharing economy transaction in some way. Of that growing demographic, many of those engaged as sharing economy workers say that they’ve joined the sharing economy (Airbnb, Uber, Lyft, TaskRabbit, etc.) in an effort to supplement existing income. Many workers in the sharing economy say that an upcoming vacation, a wedding […] […]
2017 Tax Updates for 1099 Contractors
With a new presidential administration and Republicans controlling the House and Senate, 2017 is expected to bring a number of tax changes for both individuals and businesses. For 1099 contractors, it is especially important that you keep up with these changes so that you can ensure that your taxes are properly filed. To help you keep up with the latest changes, here is a list of the latest 2017 tax updates for 1099 contractors.New Tax BracketsFor 2017, there will be some adjustment to the tax b […] […]