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...
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...
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 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...
Sometimes a limited liability company or LLC has a year with no business income or activity. Maybe it's a newly formed LLC, which hasn't started doing business yet. Is it an older LLC that hasn't been formally dissolved? Whatever the reason for no activity, does the...
With the freedom of being a small business owner comes the responsibility of navigating sales tax. If you're confused about sales tax, you're not alone! Collecting and paying sales tax is one of the more complicated aspects of running a small business, both online and...
If you're like many people, the word taxes gets your belly in knots! Even if you're good with numbers and stay on top of things, it can be hard to understand all the different aspects to taxes. That's not even counting if there has been a change in your life in the...
Thinking about starting a business to help you earn income and use your skills? New business owners have tax-related things to do before launching any company. Here are the 6 things to know about taxes and starting a business. Starting a business 1) Choose a business...
Employee vs. contractor? This is a common question among full-time travelers who work on the road. What’s the difference between an employee and contractor and how does it affect your tax obligations? Let’s get to it, so you can more easily figure out which one fits...
If you own a business, it's a must to understand the tax side of the business. This includes understanding pass-through income. Maybe you've heard of the advantages of registering your business in a no income tax state. In fact, you may have found companies offering...
Hi! I’m Heather Ryan, EA and I live full-time in an RV with my husband and two dogs. As a full-time 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.
By the end of the course, you’ll understand how to register your business, stay organized with expenses and income, and keep on top of your tax obligations.
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.