May 8, 2020 | Legal, Tax Tips
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 your taxable income. However, the process requires...
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May 1, 2020 | Airbnb Taxes, Tax Tips
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 spare bedrooms. If you’re an Airbnb host, the IRS classifies you as self-employed...
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Apr 30, 2020 | Airbnb Taxes
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 to think about the tax implications before you start hosting. Below is a tax checklist for new...
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Apr 27, 2020 | Airbnb Taxes, Legal
Planning for a loved one’s passing isn’t easy, but it could make settling their affairs a lot easier when their time comes. A real estate trust can make it a lot easier to organize and transfer assets in the event of an untimely loss. If you have a...
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Apr 24, 2020 | Legal, Tax Tips
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 how the IRS viewed cryptocurrency. This lack of guidance led to tax discrepancies for some crypto...
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Apr 20, 2020 | Airbnb Taxes, Tax Tips
Short term rental platforms like Airbnb and VBRO have increased in popularity over the last several years. What once started out as a part-time income for some, has been scaled to quite a profitable enterprise for others. Regardless of if you are a part-time or full...
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