Can I Write Off Rent as a Business Expense?

Whether you have a home office or are renting a commercial building, you may be wondering if it’s feasible to write off rent as a business expense. For business owners and freelancers, rent can be used as a tax deduction. However, there are strict guidelines you must follow to claim this tax break. Can You […]

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Airbnb Rental Arbitrage: Explained By Pros

Airbnb rental arbitrage has emerged as an intriguing option in the shared economy space, promising potentially lucrative returns with strategic planning. But as with any venture, it’s a balance of reward and risk. Before diving into its depth, it’s essential to understand the landscape of opportunities and the potential hurdles lying ahead.  What is Airbnb […]

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How to Avoid Depreciation Recapture

Selling a business asset may feel like a win, but have you considered the tax implications? In this article, we break down the nuts and bolts of depreciation recapture and offer strategies to navigate it effectively. What is Depreciation Recapture? Imagine buying an asset for your business at $10,000 and depreciating it by $4,000 over […]

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Accounting for Influencers: Explained by Experts

The influencer market is booming, turning content creators into entrepreneurs running profitable businesses. But this financial growth means you need good accounting practices. The IRS is watching influencers closely, and poor accounting can lead to audits. As influencers become more economically significant, managing finances professionally is key. Accounting for Influencers: The Basics Influencer Marketing Hub […]

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Vacation Rental Bookkeeping: Top 6 Tips

Running a vacation rental can be exciting and financially rewarding. Managing the financial aspect of your business is essential, and there is more to do beyond counting the money flowing into your bank account. We’ll look at the best practices for vacation rental bookkeeping and mistakes to avoid. Vacation Rental Bookkeeping Basics Vacation rental operators […]

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Student Loan Tax Tips: A Complete Guide

Though student loan forgiveness has been in the news a lot lately, most borrowers are still shouldering significant debt. Though higher education can be a costly investment, there are some benefits to having loans when it comes to taxes. We’ll take a look at the student loan interest deduction and other student loan tax tips. […]

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Why Your Business Needs a Business Bank Account

Running a successful business involves complex decision-making, precise planning, and meticulous execution. One of the crucial first steps towards launching a successful business venture is setting up a dedicated business bank account. Your business bank account gives your company a strong foundation for transparent and compliant finances.  Here’s what you need to know about business […]

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Digital Nomad Taxes Survival Guide

Digital nomads have taken the idea of remote work to the extreme. While some may have home bases, some digital nomads have decided to travel the world and have jobs that allow them to stay connected wherever they are.  This article explores digital nomad taxes. Though the idea of the open road and picturesque backdrops […]

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What is Cost Segregation, and Can It Lower Your Taxes?

Cost segregation can help you reap huge tax savings, and it’s an excellent defense against an IRS inquiry. But, how does it work? What is Cost Segregation? When you purchase real estate, you need to split the purchase price between the building and the land. A cost segregation analysis helps you determine the proper allocation […]

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