Airbnb has risen in popularity over the last several years for both travelers and individuals looking to make an extra income. However, Airbnb hosts have to deal with tax ramifications. […]
Category: Tax Tips
How to Claim the Self Employed Health Insurance Deduction
Working as a 1099 contractor isn’t always easy, but it comes with some tax benefits that aren’t available to W4 employees. Healthcare is a huge expense for millions of Americans, […]
How to Calculate Amortization Expense for Tax Deductions
Amortization is a term you’ve probably heard a few times, but it’s a little tricky to define. To complicate things more, it has more than one meaning in the financial […]
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 […]
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 […]
How to Pay IRS Taxes Online
We like to do a lot online these days, including ordering food, selling our services, paying our bills, and even checking our mail from our phones and our laptops. As the government works to catch up with the digital age, we are starting to see the IRS adapt to our methods. Earlier this year, the Internal Revenue Service (IRS) launched IRS.gov, their new website. And to get right to the point, there are two primary functions we recommend that everyone know how to use at a minimum: Pay […] […]
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 […]
4 Tax Planning Tips For Short-Term Rental Hosts
Airbnb hosting is a first-time business for many, so a lot of hosts aren’t familiar with the intricacies of the tax system. However, a little Airbnb tax planning can help […]
Understanding Book to Tax Adjustments
Book income measures your business’s financial performance, but it doesn’t always line up with your business’s taxable totals. Sometimes, you need to adjust your book income to accurately report […]
Airbnb Tax Help: Video Walkthrough
One of the most lucrative ways to earn an income in the Sharing Economy is through home-sharing platforms like Airbnb. Airbnb allows homeowners to rent out their vacant properties and […]