In case you’re not aware of the new rules regarding meals and food expenses in your small business the Tax Cuts and Jobs Act changed things up a bit starting in 2018. Business owners now have to reevaluate their budget for the food they once were able to deduct. Let’s take a deeper look and…
Did you know that every year the IRS mails millions of letters to taxpayers for many reasons? Are you one of the lucky ones to receive one? Don’t worry. Here are some suggestions for the taxpayer who receives that dreaded IRS notice. IRS notice You received an IRS notice in the mail. Now what?!?! First off…freak…
Using retirement contributions and a health savings account (HSA) to help reduce your immediate tax liability is a real way for tax savings. I highly suggest maxing out any retirement contributions possible. I also recommend contributing to your HSA, if you have one. Let’s dive deeper into retirement and HSA contributions and how they can…
You may have read or heard about the latest sales tax ruling which allows states to change laws forcing online businesses to collect and remit sales tax. Now you’re wondering how this will affect you. Let’s take a look at how the latest ruling impacts sales tax for your small business. Sales tax for your small…
First things first, this new provision, Section 199A, as part of the Tax Cuts and Jobs Act allows for a 20% deduction for qualified business income deduction. There are exceptions and it can get complicated, but, to keep it simple, a 20% deduction for running your small business is pretty nice. Let’s talk further details…
Where should I form an LLC? I get this question quite often. The answer is not Wyoming or even Nevada! Simply put, your domicile state is the best option. Don’t fall prey to the internet or a friend’s misguided advice when it comes to business formation. While some states may be less expensive for maintenance…
Think back to when you started your business. Did someone tell you the first person you should hire is a bookkeeper? You should do this before you do anything else because finances are scary. Maybe they said bookkeeping is hard or taxes are overwhelming. Bookkeeping doesn’t need to be scary or difficult, but you may…
I get asked often by small business owners which software I recommend for bookkeeping. My go to answer is QuickBooks. Most of the time I find it to be the best solution for small businesses. However, I also understand there are varying degrees of needs and levels of experience with keeping the books. So… let’s…
While there are plenty of reasons to need an extension, it does NOT mean you get extra time to pay taxes owed. You are among the many businesses and individuals that file an extension. But…what does that really mean? It means you better pay an estimate based on what you think you’ll owe in order…
You own an RV and decide to rent it out for some extra cash. How do you deal with taxes? Let’s dive into understanding the section 179 deduction on your RV rental. First, it’s important to separate the different types of RV rentals. Residential Rental if you live FULL-TIME in your RV If you are…
Hi! I’m Heather Ryan, EA and I get RVlife. As a fellow digital nomad, I understand many of the unique tax situations created by travel. I also fully support entrepreneurs and the struggles they face. The goal of this site is to offer my knowledge through advice and tips to real-life situations and questions.
Are you getting ready to transition to full-time RVing? Are you already on the road?
This book has everything you need to know about taxes as an RVer.
Disclaimer:
This website is for general information only and is not intended to substitute for obtaining legal, accounting or financial advice. It is not rendering legal, accounting or other professional advice. Presentation of the information on this website is not intended to create a client relationship. For specific tax assistance please consult a tax professional on an individual basis.
While I make every effort to furnish accurate and updated information, I do not guarantee that any information contained in this website is accurate, complete, reliable, current or error-free. I assume no liability or responsibility for any errors or omissions in its content