Estimating Income Taxes for 1099 Independent Contractors

If you participate in the sharing economy by working as a 1099 contractor or by renting your home on Airbnb, you know that you will likely be required to pay taxes on your income. But just how much do you need to save in order to cover your tax payments? Here is a brief guide to help you determine how much to put aside for Airbnb and 1099 contractor taxes.1099 ContractorsIn most cases, sharing economy workers are considered as 1099 contractors for tax purposes. The only way you would not be cons […] […]

Read Post

Filling requirements for airbnb hosts in canada

Determining whether you are considered as a resident or non-resident of Canada can be quite confusing given the fact that receiving rent from Canadian real estate or disposing of Canadian real estate can make you subject to Canadian income taxes. This article will help provide guidance for U.S. Residents who have Airbnb’s in Canada and the respective reporting requirements.  For Non-Residents If you are a non-resident of Canada and you have taxable rental income in Canada as a res […] […]

Read Post

A Complete Tax and Finance Guide for Thumbtack Professionals

Individuals go to Thumbtack everyday looking for professionals to hire to help them with personal projects. As a Thumbtack professional, you can use the platform to find new customers. However, you will still need to pay taxes on the earnings that you make through Thumbtack. Here is a complete finance and tax guide to help […]

Read Post

5 Tax Planning Tips for Airbnb Hosts

Airbnb hosts are at the forefront of the Sharing Economy movement. However, you should remember that running a rental is a business. Therefore, you’re responsible for your taxes. Airbnb tax planning can have a major impact on your tax bill, so having a plan is important. Measuring Airbnb Income The simplest way to account for […]

Read Post