When managing your finances, the choice between cash and accrual accounting can significantly impact your business’s financial health, tax obligations, and decision-making insights. Understanding which method aligns best with your operations is crucial for accurate financial reporting and strategic planning. What Are Cash and Accrual Accounting? The primary difference between these methods is timing: Cash…
Reducing your tax burden is a goal most of us have. While legitimate methods exist to achieve this, some strategies can lead to unexpected complications. One such strategy involves using a Montana LLC for RV registration to avoid sales taxes in your home state. Before pursuing this route, it’s important to weigh the potential risks…
Let’s face it. We all want to save more on taxes. Now’s the time to learn how to maximize your tax savings by understanding how to take the mileage deduction as a business owner. Mileage Deduction as a Business Owner As a digital nomad, your lifestyle likely involves a significant amount of travel—whether it’s meeting…
When should my business create an S Corp? I hear this question all the time. S Corp is a popular and often talked about option for business owners, but you should consider this option carefully. The extra responsibilities are not a fit for all. Let’s review insider tips, both positive and negative, so you can…
Whether your business has reached its natural end, you’ve sold it (CONGRATS!), or you’ve decided to pursue other ventures, it is crucial to take the necessary steps to properly close your LLC. Closing your business doesn’t need to be overwhelming or difficult.. Follow these steps to help ensure you have officially closed all the doors…
Are you ready to invest in real estate or buy a home base for yourself? Be careful if your lender asks for a mortgage comfort letter. As a business owner buying property, it’s quite common for a mortgage lender to ask for a letter from your CPA or tax accountant. If this happens to you,…
Living life on the road as an RV entrepreneur or digital nomad is an exhilarating adventure, but it comes with unique financial challenges. If you own a business, then you need to be focusing on proactive tax planning for the RV entrepreneur and digital nomad. In this guide, we’ll explore the strategies and considerations that…
If you ever talk to me in person or on the phone or read any of my content, you’ll know I’m a huge fan of being organized. Organization leads to less stress and more freedom to spend your time as you please. Any digital nomad navigating the online business landscape understands the importance of streamlining…
The digital nomad lifestyle offers the freedom to work from anywhere in the world. However, with that freedom comes the responsibility of managing your finances effectively. Now’s the time to establish smart financial habits as a digital nomad. Whether you’re a seasoned globetrotter or just starting your journey as a digital nomad, adopting smart money…
Are you a remote business owner, digital nomad, or RV entrepreneur? Well, then you may have heard the latest buzz in the business world. It’s all about the new Beneficial Ownership Information (BOI) reporting. Let’s dive into the details so you understand what this new regulation means for you and your business. BOI Reporting This…
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