Are you a parent? Did you receive a little extra in your bank account? This is the first time the child tax credit is being paid out on a monthly basis. But there are some important things you should know about the child tax credit 2021. Let’s dive in. First, let’s review the 2020 child…
Every business has a legal name regardless if it’s simply your own legal name or a separate name registered with the state. However, a DBA or “Doing Business As” is a name that is separate from the legal name of the company. A DBA can also be called a trade name, assumed business name, or…
IRS audit. These are the words most of us would prefer to avoid if at all possible. Am I right? Here are 7 red flags to help you avoid an IRS audit. An IRS audit is an examination or review of information and accounts to ensure you’re reporting things correctly and following the tax laws.…
Are you self-employed? If so, how do you know which business expenses you can deduct? Do you ever worry about raising a red flag on your tax return? It’s not always easy to determine which business expenses to write off. Let’s review the different types of business expenses and how you can deduct the most…
Whether you’re new to owning a business, new to bookkeeping, or just want a refresher, there’s a lot to be said for exploring bookkeeping strategies to help your business. Successful bookkeeping strategies include any practice that allows your business to: save time or money, complete bookkeeping tasks more efficiently, mitigate the stress associated with estimated…
If you follow the news at all, you know a new law was passed on December 27, 2020. While most public attention focused on stimulus checks and new PPP loans, there were other nice benefits in it. The bill contained 8 tax breaks for US taxpayers especially for those who aren’t business owners. While none…
Are you self-employed or had an asset sale, or rental property? Way to go! Cha-ching! However, it’s important to know if you owe estimated tax payments. Do you fit any of the following? -You carry on a trade or business as a sole proprietor (single-member LLC included) OR receive income as an independent contractor (and receive…
Are you among the many businesses that received a PPP loan in 2020 to help your business get through the tough times? If so, now’s the time to learn how to handle the PPP loan and taxes. The most recent legislation passed by the US government has made some great changes for those who received…
I hear lots of business owners talk about issuing 1099s or even receiving a 1099. It’s all about the 1099. Yet, many misunderstand the rules around them and what 1099 is actually for. Let’s work at understanding the 1099. Understanding the 1099 The first thing to understanding the 1099 is that it’s used to report…
Can you believe the end of the year is just around the corner? Now is the time to plan for 2020 taxes! Let’s go over 7 helpful last-minute business tax deductions to help you reduce your 2020 taxes. 7 last-minute business tax deductions 1. Prepay Expenses Using the IRS Safe Harbor Thank the IRS for…
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