Can Offering Escrow Help Freelancers Land More Clients?

Freelancing has a lengthy set of perks, including the ability to set your own hours, rates, and contract terms. The flexibility is a big plus, but there are downsides too. One of the most common hurdles is reliably securing payments from your clients. Establishing relationships with new clients takes time, and they might not want […]

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NFT Taxes: Everything You Need to Know

Are you new to the world of NFTs? If so, you may wonder about the tax implications of owning and using these digital assets. This blog post will overview how NFT taxes work, including some common tax scenarios. By understanding the basics of NFT taxation, you can better prepare for filing your taxes this year. […]

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What is Estate Tax, and How Can You Avoid It?

When someone dies, their estate (defined as all the assets they own) becomes subject to the estate tax. The federal estate tax only applies to estates over $11.7 million, so very few people need to worry about the federal estate tax. However, most of the estate over $11.7 million is taxed at 40%. So it […]

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Schedule C vs Schedule E for Airbnb Income

Many things set Airbnb hosting apart from other rental properties. Let’s discuss this big difference: some Airbnbs qualify as non-passive income and are reported on Schedule C.  Furthermore, this post will cover Schedule C vs Schedule E for Airbnb hosts in detail. Schedule C vs Schedule E: What Are They For? Let’s look at Schedule […]

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1099 NEC vs MISC: Key Differences and Uses 

Modern businesses are increasingly relying on independent contractors to fill jobs and essential roles, and 1099 Forms are becoming more and more common on tax returns. However, determining the right 1099 Form to file can be challenging for small businesses thanks to the advent of new form options. So, what is the difference between a […]

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Is HELOC Interest Tax Deductible?

Owning a home comes with many tax benefits, but knowing what is tax-deductible can be a little tricky. It gets even more complicated when you have a mixed- or dual-use property.   We’re going to dive into the HELOC tax deduction for various types of home-sharing properties. What is a HELOC (Home Equity Line of […]

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What Is an IRS 4868 Form? [Free PDF]

  Most adults have needed some slack at one point in time or another. Maybe a young person starting out needs a loan from the parents. In other instances, drivers who missed a stop sign or speed limit indication could ask for leniency from an apprehending police officer. Still other cases may find struggling students […]

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