Can a Holding Company Protect Your Airbnb Assets?

Owning a business is very rewarding. However, you could lose everything if you run into legal troubles. For example, creditors could come after your Airbnb properties to cover an old debt. Luckily, you protect your assets by organizing them into a separate legal entity. This type of organization is often referred to as a holding […]

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How to Calculate Profit Margin and Improve Profitability

Business owners need to understand their revenues and earnings to make effective business decisions. However, it’s not easy to keep track of this information manually because unanticipated expenses often come into play. The profit margin formula helps business owners quickly gauge their company’s financial health. Profits are the ultimate goal for every business, so every […]

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How to Apply for Paycheck Protection Program Loan Forgiveness

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 or CARES Act to help the country survive the economic downturn that resulted from the nationwide lockdown. The CARES Act established several relief programs, including […]

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What is a W9 Form and How to Get One

If you work as an employee, your employer automatically withholds money to cover your taxes. However, freelancers and independent contractors need to handle their own taxes. If you’ve been freelancing for a while, you’ve probably had a client that asked for a W9 form. You probably know that these forms list your tax data for […]

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How to Pay Your Cryptocurrency Taxes and Stay Out of IRS Trouble

Cryptocurrencies like Bitcoin and Ether have gained a lot of traction over the last several years. However, crypto regulations are notoriously vague, particularly in regard to cryptocurrency taxes. Some crypto traders even found themselves in trouble with the IRS for unintentionally violating tax laws. Last year, the IRS began a highly-public crackdown on Crypto tax […]

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How to Get Your IRS Tax Transcript Online

If you’re an American taxpayer, the IRS has a file on you. The IRS tracks tax payments, income, deductions, and other important tax information. If you ever find yourself in need of this information, you can ask the IRS to send you a tax transcript that details all the information they have on file. If […]

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The 21 Best Deductions for Airbnb Hosts