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Accounting and Tax Tips Blog

Do I Have To Pay Getaround or Turo Taxes?

Car owners now have more options than ever to earn money from their Car-sharing services, like Getaround and Turo, let you earn extra income with your car. However, you might need to pay Turo taxes. To calculate Turo taxes, you need to consider various factors. Here’s...

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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...

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How to Navigate the NYC Airbnb Law

The New York City Airbnb law is changing the game for NYC Airbnb hosts. This new law regulates Airbnb hosting in the city, and it restricts many hosts from offering short-term rental hosts in the Big Apple. Now, NYC requires Airbnb to disclose all of its hosts in the...

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Rental Property Tax Deductions for Airbnb Hosts

House sharing is a great way for many people to generate a substantial income. When it comes to running your business, you probably have the hospitality part down, however as far as your taxes are concerned, if you’re like many successful hosts, you’ve got a bit to...

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Rental Income Tax Rate For Airbnb Hosts

Many people have discovered the benefits of opening up their homes to rent on sites like Airbnb and VRBO. It is a good source of income and can be very rewarding both personally and financially. Some people have even been able to scale their operations where they...

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Airbnb 1099 Forms: Everything You Need to Know

Airbnb 1099 forms don’t have to be complicated. This post has all the information home-sharers need to know about 1099 forms. Form 1099 submissions are due by January 31, and they cover the previous year. For more on form 1099, read our other post “What is...

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How To Calculate Depreciation Expense

Depreciation has a bad reputation. After all, nobody wants their assets to lose value. However, from a business perspective, depreciation helps your tax situation. Business owners need to keep close track of their depreciation expenses. Then, they can deduct it at tax...

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How to Pay Quarterly Taxes Online or By Mail

How to Pay Quarterly Taxes Online or By Mail  For business owners, taxes don’t end on April 15th. Most self-employed professionals and business owners need to pay quarterly taxes. Quarterly taxes represent down payments on your annual taxes. If you’re running your own...

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