Author: Miguel Alexander Centeno

Profile picture of Miguel Alexander Centeno

Posts by Miguel Alexander Centeno

Leasing vs Buying a Car: Which Offers More Tax Savings?

Posted on Posted in Depreciation, Tax Tips, Turo TaxesLeave a comment

Rideshare business owners are facing new tax regulations following the passage of the Tax Cuts and Jobs Act (TCJA) some of which have affected leasing and depreciation tax rules. As a result, Tax Reform means that rideshare business owners now need to reassess the implications of lease vs. buy tax before deciding to lease or purchase new vehicles.Here are some important points to consider in evaluating lease vs. buy tax.Lease Tax Treatment vs. Depreciation ​Depreciation is a tax method tha […] […]

Read Post

Easy Ways to Save on Your Airbnb Taxes

Posted on Posted in Airbnb Taxes, Tax TipsTagged , , , , , , Leave a comment

Listing a short-term rental with Airbnb or other sites can provide an excellent revenue stream. If you’re willing to make your guests feel welcome and accommodated, it’s even more lucrative. However, the IRS will want its cut when your rental business becomes successful. The IRS expects you to report every bit of income so it […]

Read Post

Car Depreciation for 1099 Contractors and Car-Sharers

Posted on Posted in Carshare Taxes, Depreciation, Tax Tips, Turo Taxes1 Comment

Carsharing presents a great opportunity for people with cars sitting in their driveway and for entrepreneurs looking to compete with traditional car-rental services. In addition, there can be key tax benefits. If you’ve earned money this year from sharing your car on Relay Rides, Turo, or Maven, you should know that you may be eligible to take a deduction on your taxes for your vehicle. The tax code’s vehicle Section 179 deduction could potentially save you a lot of money on your taxes. Here is […] […]

Read Post

How to Find the Best Tax Professional for Your Business

Posted on Posted in Airbnb Taxes, Carshare Taxes, Tax Tips, Turo TaxesTagged , , , , , , , Leave a comment

Working with an expert can save you from learning from your own mistakes. And having a tax advisor is a smart choice that can lead to a lot of benefits for your business. Tax advisors aren’t just for tax preparation. They can provide guidance on multiple areas of your business and help steer you towards […]

Read Post

Finding the Best Freelance Tax Expert

Posted on Posted in Tax TipsTagged , , , ,

With the onset of the internet more and more working individuals have the opportunity to work from home. As a freelancer, you have unlimited potential to earn money and fulfill your dreams because you have the freedom, the operative word, to create your own schedule. You can work as much as you like, take your […]

Read Post

A Simple Tax Guide for Airbnb Hosts

Posted on Posted in Airbnb Taxes, Tax Tips

Airbnb has proven to be an excellent way for many people to generate income. What is really great about Airbnb is it allows you more freedom and flexibility. You can rent out your property as much as you want to. This creates a substantial full time or part-time income for many taxpayers. When it comes […]

Read Post

Tax Help for Turo Fleet Owners

Posted on Posted in Tax Tips, Turo Taxes

Now is a good time to start thinking about your taxes, especially if you are self-employed. It really is never too early to start planning for taxes. The most well-thought tax planning strategies typically yield the biggest tax savings. As a Turo fleet owner, or if you operate a business in the Sharing Economy you […]

Read Post

Short Term Rental Laws By Region

Posted on Posted in Airbnb TaxesLeave a comment

As an Airbnb host/short term rental host, you will automatically be considered as a 1099 worker by Airbnb. A 1099 worker, also called an independent contractor, is a self-employed person who engages in a business, trade, or profession in which they have the right to control when their work is done and how it is done. As a 1099 business, you will be responsible for paying your own taxes, including social security and unemployment taxes. You’ll have the option to operate as a sole propr […] […]

Read Post

4 Game-Changing Tax Deductions for Etsy Sellers

Posted on Posted in Tax Tips

Etsy sellers can save a lot of money by taking advantage of tax deductions. If you’re not familiar with tax write offs, you might be surprised when you learn how much you can save. Every business owner and 1099 contractor should take advantage of these tax savings. Most independent contractors can reap significant benefits by […]

Read Post