Mar 3, 2020 | Depreciation Tips, Rideshare Taxes, Tax Tips
As a business owner, tax deductions are your best friend. By leveraging your qualified expenses against your income, you can effectively lower your tax obligation. When it comes to qualified expenses, the IRS allows a lot of regular business expenses to be written...
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Feb 26, 2020 | Legal, Rideshare Taxes, Tax Tips
Navigating the complex nature of self-employed taxes can leave you with a lot of unanswered questions. How does the IRS tax my Lyft income? Do I have to report my income from ridesharing? Will I get a 1099 form? These are just a few examples of common questions about...
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Feb 25, 2020 | Rideshare Taxes
If you drive for Uber or Lyft, you have two options for deducting your vehicle expenses. Drives can choose to take the standard mileage rate or Section 179 deduction. The standard mileage rate is the most common, but it’s not always the best option. In fact, you...
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Dec 13, 2019 | Airbnb Taxes, Rideshare Taxes, Tax Tips
If you participate in the sharing economy by working as a 1099 contractor or by renting your home on Airbnb, you know that you will likely be required to pay taxes on your income. But just how much do you need to save in order to cover your tax payments? Here is a...
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Nov 14, 2019 | Airbnb Taxes, Carshare Taxes, Rideshare Taxes, Tax Tips
If you participate in the Sharing Economy, be it opening up your home on Airbnb or sharing your car on Turo, you know that it can be very rewarding. While you may enjoy running your business, the bottom line is you are generating an income. This income, regardless of...
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Sep 13, 2019 | Airbnb Taxes, Carshare Taxes, Rideshare Taxes, Tax Tips, Turo Taxes
Your tax bill can be a real pain. You spend all of this time gathering your information, meeting with your tax professional, crunching numbers, preparing them, filing them, and in the end paying them, it takes a lot of energy and for some stress. Nobody likes to pay...
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