The coronavirus pandemic forced many businesses to close their doors. Unfortunately, the lockdown has a disproportionate impact on smaller firms. Congress recently passed the Coronavirus Aid, Relief, and Economic Security […]
A few years ago, cities began to realize that Airbnb rentals were eating into their tax revenues. At the time, Airbnb hosts weren’t paying taxes like hotels, so many US […]
What is a Real Estate Investment Trust?A REIT, or Real Estate Investment Trust, is a company that owns or provides financing for income-producing real estate. Similar to mutual funds, REITs have shareholders and pay out taxable income as dividends. REITs enable ordinary investors to invest in portfolios of properties via the purchase of stocks. The majority of REITs are traded on major stock exchanges, however there are also public non-listed REITs and private REITs. REITs generally fall into tw […] […]
In Mexico, there is no differentiation between residents and non-residents when it comes to the payment of taxes. As a United States citizen, you are still required to pay taxes if you own rental property in Mexico that you rent out on Airbnb. As a rental property owner, you are required to pay Mexico Income Tax, called ISR (Impuesto Sobre la Renta) in Spanish, and Mexico Value Added Taxes, called Impuesto al Valor Agregado (IVA) in Spanish. Thanks to a tax treaty between the United States […] […]
Expanding your Airbnb business into international territory can be intimidating. After all, foreign tax laws differ from the U.S., so renting property abroad can complicate your tax situation. However, if […]
Taxes can be a very time-consuming process. Of course, you want to take your time, and go over everything carefully to avoid any misrepresentations like underreporting your income. Unfortunately, small […]
Airbnb has risen in popularity over the last several years for both travelers and individuals looking to make an extra income. However, Airbnb hosts have to deal with tax ramifications. […]
Working as a 1099 contractor isn’t always easy, but it comes with some tax benefits that aren’t available to W4 employees. Healthcare is a huge expense for millions of Americans, […]
If you own property, you have options. There are a variety of ways to generate steady cash flow from your real estate holdings. Renting is one of the most obvious […]
We like to do a lot online these days, including ordering food, selling our services, paying our bills, and even checking our mail from our phones and our laptops. As the government works to catch up with the digital age, we are starting to see the IRS adapt to our methods. Earlier this year, the Internal Revenue Service (IRS) launched IRS.gov, their new website. And to get right to the point, there are two primary functions we recommend that everyone know how to use at a minimum: Pay […] […]