Sometimes the line between an employee and an independent contractor can be blurry. It is very important for companies to be aware of this difference, as misclassifying an employee can […]
Category: Legal
Should You Claim Real Estate Professional on Your Taxes?
Real estate professionals come in many varieties, but today I’ll examine a more specific use of the term. The IRS offers a real estate professional designation for certain taxpayers that […]
What is the Penalty for Filing Taxes Late?
Tax deadlines can cause a lot of anxiety, especially for small business owners and independent contractors. Fortunately, you have some options if you think you will miss the deadline. In […]
What is a Qualified Personal Residence Trust
In estate planning, one effective way to minimize taxes is through a Qualified Personal Residence Trust (QPRT). This trust offers a chance to reduce the taxes owed on your home, […]
Are Pre-Settlement Legal Funds Subject to Taxation?
Pre-settlement legal funds can be lifesaving in case of a personal accident. Lawsuits that follow such accidents sometimes take too long to complete. This makes it difficult for one to […]
Should Airbnb Hosts Form an LLC Holding Company?
If you’re an Airbnb host, one of your top priorities should be protecting yourself from liability. Whether it’s a tenant suing over an injury or a municipality fining you for […]
Which Entity Fits Your Business Structure? – LLC, S-Corps, and More
Starting a business is exciting, you’re filled with optimism and ready to take on a new challenge. However, the excitement comes with mundane tasks. You could have to open new […]
CO’s New Rental Laws for Airbnb Hosts in 2022
Sites like Airbnb and VBRO have gobbled up huge market share in the hospitality industry. Unfortunately, this shift has caused drastic changes in some locales. Real estate investors have poured […]
How to Get a Land Conservation Easement for Tax Savings
Are you sitting on extra undeveloped land? Putting it into a land conservation easement could earn you substantial tax savings. However, the process involves multiple steps and third parties. Fortunately, […]
Can an Offshore Trust Save You Money on Taxes?
There’s been a lot of talk in the news recently about Congress raising taxes on the wealthy. Regardless of what the final legislation looks like, high earners can expect some […]