by hello@thatssmartbusiness.com | May 17, 2022 | Uncategorized
If the average period of rental is less than 30 days, you likely have a choice—either claim the income and expenses on Schedule C, or claim the income and expenses on Schedule E. When Is Schedule C a Good Choice? If you show a tax loss on your rental property,...
by hello@thatssmartbusiness.com | May 5, 2022 | Uncategorized
How do you multiply your net worth? Let the government help. (Stay with me here!…) Here’s how: with both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement… · creates tax deductions for the money you...
by hello@thatssmartbusiness.com | Apr 6, 2022 | Uncategorized
Given the connected nature of remote work these days, you likely use your home internet to do a little or a lot of work. The rules that apply to the home internet also apply to all the other expenses incurred while working at home, regardless of whether you claim the...
by hello@thatssmartbusiness.com | Apr 5, 2022 | Uncategorized
You don’t often get the opportunity to even consider making a tax-saving double play. But your personal residence combined with a desire for a rental property can provide just such an opportunity. The tax-saving strategy is to combine the tax-avoidance...
by hello@thatssmartbusiness.com | Apr 1, 2022 | Uncategorized
It’s true. The IRS loves you! Why do I say that? Well, you’re in business for yourself. And the current IRS tax code has literally dozens of juicy deductions built into it that only taxpayers like you can take. These deductions can add up to savings of many...
by hello@thatssmartbusiness.com | Mar 15, 2022 | Uncategorized
As a small business owner, you know that tax time can be daunting. But the fact is, it doesn’t have to be. You just want to make sure that you stay on top of your taxes as much as possible. Why? Because you don’t want to have to pay more taxes than you need to,...
