More and more Americans are finding careers as freelancers these days. While you can easily find joy in being your own boss, figuring out what you can and can’t take as tax deduction might not be one of them. A tax deduction is an item which decreases your taxable income, which in turn decreases the … Continue reading The Most Common Tax Deductions Every Freelancers Need to Know
The Airbnb Open is less than a month away. For those who are unfamiliar with the event, Airbnb Open is where hosts worldwide come together to interact with the company founders and its CEO Brian Chesky about product updates, vision for the hospitality industry, and Q&A sessions. This year, up to 6,000 hosts will gather … Continue reading How to Writeoff Your Next Trip to Paris for the Airbnb Open Conference
Airbnb hosting is a great way to meet new people and make extra money but watch out for IRS and the state taxing authorities because they want their “cut on the action”. We’ve compiled ten tax planning strategies you can implement now so that you can keep more of your hard earned money: 1. Know … Continue reading The Top 10 Tax Planning Tips for New (and Existing) Airbnb Hosts
It’s alarming how many new rideshare drivers think they don’t have to report and pay taxes on the self-employment income that they earn from Lyft and Uber. But who can blame them? Even seasoned taxicab drivers are misinformed. For years, cash-intensive businesses like the taxicab industry have avoided paying taxes on some of their cash … Continue reading Quick Tax Basics for New Uber and Lyft Drivers
Airbnb hosting is new and exciting; unfortunately, the tax law is very grey. But if you err on the conservative side of the grey areas, then you might just save yourself a lot of time, money, and headache. Trust me, getting audited is no fun. So here are 5 simple concepts you need to know … Continue reading 5 Simple Concepts for Airbnb Hosts to Avoid IRS Tax Audits
