You’ve filed your tax return for the year. You feel good about it. However, I’m here to warn you about 5 tax deductions that could get you in trouble. It’s super common for taxpayers especially self-employed individuals to make write-off mistakes. It’s simply because you never learned the dos and don’ts of write-offs. You might …
Congrats! You’ve applied and received PPP (Paycheck Protection Program) funds. Now what? Let’s learn about PPP loan forgiveness and how to account for the funds on the books. First, the basics of the PPP funds as a recap. PPP Loan basics review The maximum PPP loan amount is 2.5 times your average monthly payroll expenses, …
PPP Loan Forgiveness and Recording PPP loan funds Read More »
If you missed out on the original funding for the PPP loan, then have no fear. More funding has been approved! Are you ready? Let’s help you understand how to apply for a PPP loan if you’re self-employed. If you are self-employed, with no employees, you absolutely need to qualify for this loan and its …
How to Apply for a PPP loan if You’re Self-employed Read More »
There’s no doubt about it. The COVID-19 pandemic has upended all aspects of life around the world, including the world of small businesses here in the U.S. If your business is struggling you may be able to get some help from the federal Small Business Administration (SBA), which is authorized to make loans available to …
Top Questions About Disaster Loans Available to Small Businesses Read More »
No matter where you currently are parked, you’re likely being impacted by this crazy coronavirus pandemic. I’m also guessing that you are worried about how it will impact your business finances including taxes. Now’s the time to create a financial plan. I’m sure many of you are experiencing financial changes to your business already. It’s …
5 Steps to Create a Financial Plan for the Coronavirus Read More »
Tax time is upon us again. If that brings up frustrations or makes you shudder, have no fear. Follow these tips to make things a little easier for your tax return as a nomad. While taxes are not the most fun thing in life, it is an important one. It’s also a given if you …
As we usher in the new year, I thought I’d answer some of the most frequently asked questions related to taxes and full-time RVing. Here are the top 10 tax questions for full-time RVers. 10 tax questions for full-time RVers 1. What’s the best tax savings strategy for full-time RVers? First, there aren’t any special …
Top 10 tax questions and answers for full-time RVers Read More »
With the holiday season upon us, 2019 is almost officially behind us. Eek. How does the time fly by so quickly? However, that means that now is the perfect time to complete year-end to dos even for us RV entrepreneurs. Time to take the pesky record keeping and financial decision-making tasks off your plate, so …
Many of you have most likely heard of self-employment taxes. What about income that you collect occasionally or one-time? Let’s dive into when you DON’T owe self-employment taxes. If you’re not familiar with self-employment taxes, then I highly suggest you learn about them as a freelancer or business owner. The IRS even has a tool …
How to know if you don’t owe self-employment taxes on one-time income Read More »
Chances are if you are reading this, then you are already self-employed or interested in becoming a small business owner. Congrats! However, it’s important to consider self-employment taxes if this is you. Self-employed means you fit any of the following: You carry on a trade or business as a sole proprietor (single-member LLC included) or receive income …
Understanding self-employment taxes as a freelancer Read More »