Amazing Way to Use Health Insurance as a Tax Deduction
Health insurance is no fun topic. There’s lots of debate around the necessity of paying high premiums. However, if you’re self-employed (i.e. you work as a contractor or freelancer), then pay attention. It’s important to know how to take health insurance as a tax deduction. If you’re self-employed, work as a contractor or freelancer, then…
Top 10 Coronavirus Stimulus Questions & Answers
With everything that is going on recently, I’m getting lots of questions about when, how and who will receive the stimulus check as part of the latest government actions. Specifically, I’m talking about the CARES Act passed by the US government just last week. So, here are your coronavirus stimulus questions answered. Coronavirus Stimulus Questions:…
5 Steps to Create a Financial Plan for the Coronavirus
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…
10 deductions to help prepare to file your taxes
Ready or not tax season is here! This means it’s more important than ever to gather all your paperwork. To help you get started, here’s a guide to help you prepare to file your taxes. These are the top 10 deductions and credits taken on tax returns. Prepare to file your taxes Whether you’re planning…
3 Tips to Avoid Tax Refund Delay
Are you one of the lucky ones who receives a refund on your taxes? If so, follow these steps to ensure smooth processing of your 2017 tax return. Top three things you should know to avoid a tax refund delay. Avoid Tax Refund Delay 1. Gather all documents Employee In order to file a complete…
Choosing a Business Entity: which is best for you?
As with most things in business and life in general, it’s all about the basics, right? Well, here are the basics of choosing a business entity. If you already know them but aren’t implementing them, it’s time to start. If you’re just getting started, it’s really important to start your business off right. Don’t you…
Travel expenses: Are they deductible on your taxes?
Most of you proudly identify yourself as a full-time RVer or digital nomad because you’re living your dream. You are lucky enough to travel full-time while working remotely from the road. Does this mean you can take all your costs as a travel expense? Remember, you don’t live in a sticks-and-bricks home with a typical 9-5 lifestyle like the…
Solar Tax Credit: What you need to know
This year is different, because this was the year you installed solar on your RV, and now you’re ready to get that big fat tax credit to help with that expense. Let’s clarify the solar tax credit. UPDATED to reflect current tax law as of August 2022 Solar Tax Credit The solar tax credit was extended…
4 Possible Tax Deductions for RV owners Explained
Unfortunately, for us RV owners who full-time, some of our deductions are limited as compared to a sticks and bricks homeowner. However, there is some overlap. As an RV full-timer myself, I understand the limitation of tax deductions for RV owners. I also get asked similar questions often. Let’s dive into the top 4 questions I…
6 Simple Small Business Tax Deductions for RV entrepreneurs
You’ve got the revenue part down. Now you need to figure out the expenses. Here are 6 simple small business tax deductions you should be taking. In a small business, maximizing your tax deductions is critical to generating a healthy bottom line. Some deductions are obvious – rent, phone, cost of goods, salaries – but…