Can Airbnb Help You Save on Taxes?

It costs money to make money. And running your Airbnb business is no exception. You have to account for cleaning costs, maintenance expenses, supplies, and listing improvements. While it seems like these expenses can add up, they may be beneficial when it’s time to file and pay your Airbnb taxes. Operating an Airbnb can offer […]

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Airbnb Laws in NYC: A Guide for 2021

Millions of Americans use Airbnb as an outstanding source of income. But short-term leasing can expose hosts to a gauntlet of local regulations. In places like New York City, where rules are strict, it can be a challenge to host on Airbnb. This article will outline the short-term leasing Airbnb laws in NYC, and how […]

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IRS Updates the 2021 Tax Deadlines

When it comes to the pandemic, we are starting to see the light at the end of the tunnel. Hopefully, this progress is sustainable. And while things are starting to look more optimistic, many small businesses are still reeling from the economic ramifications of the pandemic. Now more than ever, business owners are concerned about […]

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The Self-Employment Ledger: How to Start and Why It’s Important

When you own your own business or are self-employed, you have many more responsibilities regarding your bookkeeping and finances. It is important to keep accurate bookkeeping for your self-employment income and business expenses. This enables reliable forecasting, allows for strategic tax planning, makes preparing and filing your taxes a lot easier, and is instrumental in […]

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What You Need to Know About Airbnb Service Fees

Listing a property on Airbnb can be a great source of extra income. But, the convenience of using this platform comes at a cost. To pay for its services and 24/7 support, the company charges an Airbnb service fee – something hosts need to understand. As such, we’ll use this article to explain everything you […]

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What is a Real Estate Professional?

Real estate investing offers an outstanding path to long-term wealth. However, a lot of confusion exists when it comes to real estate and taxes. New investors hear that real estate provides great tax advantages, but they don’t necessarily know-how. Things get even more complicated when you consider real estate professional status. The IRS formally designates […]

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Joe Biden Stimulus: What Does It Mean For Small Business?

Recently, President Biden released his proposed COVID-19 economic stimulus plan. Dubbed the “American Rescue Plan,” this proposal would amount to a $1.9 trillion total stimulus package. With that much spending, businesses are asking how they will be impacted. Specifically, how will the Biden stimulus proposal affect small business and self-employed taxes? As such, we’ll use […]

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