One of the most important decisions you can make for your accounting process is which accounting software to go with. There are several different options available, but the two that reign supreme are Quickbooks and Xero. Both are very powerful and boast impressive features. So which one should you choose? Let take a look at […]
Tag: Tax Tips
Best Time Management Apps for Small Business
Are you missing an important deduction, one that will help you live the freelancing lifestyle from wherever you travel? If you write for others from someplace other than a repurposed room in your home, you might be. Time is money, and in this case, it might help pay for a trip too. Tracking your […]
5 of The Most Common Tax Questions
The tax code is complicated and confusing for many taxpayers. To make matters worse, the law is constantly changing, so it’s next to impossible for most business owners to keep up-to-date. It’s no wonder that many people have difficulty with tax preparation. Unfortunately, you can’t avoid it unless you want the IRS to come knocking. […]
Tax Planning Can Save You Thousands
Paying taxes can be a hard pill to swallow for many taxpayers, especially if their tax bill is high. Your business has had a great year, you have increased your profits, and whether you’ve noticed it or not, you’ve simultaneously increased your tax bill. It’s only natural that the IRS is going to want a […]
Easy Ways to Save on Your Airbnb Taxes
Listing a short-term rental with Airbnb or other sites can provide an excellent revenue stream. If you’re willing to make your guests feel welcome and accommodated, it’s even more lucrative. However, the IRS will want its cut when your rental business becomes successful. The IRS expects you to report every bit of income so it […]
How to Find the Best Tax Professional for Your Business
Working with an expert can save you from learning from your own mistakes. And having a tax advisor is a smart choice that can lead to a lot of benefits for your business. Tax advisors aren’t just for tax preparation. They can provide guidance on multiple areas of your business and help steer you towards […]
Tax Mistakes To Avoid – Get Your Taxes Right The First Time
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 if it is part time or […]
The Best Way To Pay Your Sharing Economy 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 taxes, and the fact that the tax […]
Peer-To-Peer Car Sharing Founder Jessica Scorpio From Getaround
Getaround is one of the best known car sharing or peer-to-peer sharing companies out there. It allows people to rent someone else’s car for a short period of time, and car owners to rent their car and make an extra income. As society becomes more focused on a sustainable lifestyle and more conscious of their […]
Should I Be Paying Quarterly Taxes for My Business?
If you participate in a shared economy or peer-to-peer business, you may be faced with certain tax uncertainties. Many people get involved with shared economy businesses like Airbnb or Turo to make extra income. And while they may be aware that they owe taxes on that extra income, they may be unsure of the specifics. […]