Renting out a second home can provide a variety of benefits for homeowners in the position to do so. However, there are also a variety of things to consider when you're renting out your second space. When homeowners decide to make this change, many wonder what qualifies as a deduction when the
Year End Tax Planning for Small Businesses
Forget time machines – the end of the year looms, and with it, tax season's complexities. You're an entrepreneur, not a tax expert, but maximizing deductions and minimizing your tax burden is crucial. Here are three key strategies you can implement before December 31st, each requiring minimal time
Beyond Profits: Cultivating Care for Your Business and Bottom Line
The world of business can often feel transactional, focused solely on numbers and the elusive bottom line. While financial success is crucial, caring for your business is about more than just profits. It's about fostering a sense of purpose, connection, and responsibility that ultimately leads to
A Guide to Airbnb and Short-Term Rental Deductions
Owning an Airbnb or indulging in short-term rentals can be a lucrative venture, but come tax season, the excitement can quickly sour if you aren't prepared. This comprehensive guide is here to demystify the process and help you maximize your deductions, leaving you with more green in your
Seattle Eying Delivery App Fees, Not A Food Levy
Confusion has gripped Seattle residents in recent weeks, fueled by rumors circulating online about a proposed tax on groceries. The culprit? An email allegedly from Instacart, the popular grocery delivery service, warning customers about the new levy. But fear not, Seattleites, your pantries are
Personal vs Business Expenses: Where’s the Line?
One of the most common crises small business owners face is the separation of personal vs business expenses. Especially when you're starting out as a sole proprietor, you may not immediately create a separate bank account or even apply for a business credit card. However, that's usually where the
When can you start filing taxes in 2024?
The official date for filing your 2023 taxes in 2024 hasn't been officially announced by the IRS yet, but based on recent years, you can expect to start filing sometime in late January. Here's what we know so far: While we don't have a specific date yet, it's safe to say you can likely start
Legal and Financial Considerations for Launching Your Dental Practice
While the dream of owning your own dental practice can be alluring, the reality involves navigating a complex web of legal and financial hurdles. Before embarking on this exciting journey, it's crucial to understand the associated costs and legal intricacies to ensure a smooth and successful