Renting Out Your Car on Turo? The Tax Bill Is Bigger Than Your Payouts Suggest
Turo hosting is Schedule C self-employment income, not Schedule E rent — 15.3% SE tax, a gross 1099-K, and an IRS mileage rate that changed midyear 2026.
#depreciation
Depreciation
Methods and strategies for depreciating fixed assets including straight-line, MACRS, and accelerated depreciation
Alpaca Fiber Farm Bookkeeping: Grade the Fleece, Depreciate the Herd, and Price Yarn Like a Business
Purchased alpaca breeding stock depreciates over 5 years (Section 179 eligible); raised crias have zero basis. Grade fleece by micron and file on Schedule F.
The Backyard Cottage P&L: What an ADU Really Costs, Earns, and Does to Your Taxes
ADU rental income goes on IRS Schedule E: split shared costs by square footage, depreciate the unit over 27.5 years, and plan for 25% recapture tax at sale.
Section 179 Recapture: How the IRS Claws Back Your Deduction When Business Use Drops to 50% or Less
Section 179 recapture applies when business use drops to 50% or less in any recovery-period year: the clawback is ordinary income on Form 4797, Part IV.
Business Casualty and Theft Losses: Deducting a Disaster on Form 4684
Business casualty and theft losses skip the $100 and 10%-of-AGI floors, but are capped at adjusted basis, not replacement cost. How to measure the loss, handle insurance timing, and use the Section 165(i) prior-year election.
Canada's Capital Gains Inclusion Rate Is Still One-Half: Selling a Business or Rental in 2026
Canada cancelled the two-thirds capital gains inclusion rate on March 21, 2025, but kept the $1.25M lifetime exemption — roughly $1,275,000 indexed for 2026. Here are the QSBC tests, CCA recapture, and 45(2)/45(3) elections that decide your bill.
Trading In Your Business Vehicle? The Trade Allowance Is Taxable — Gain, Recapture, and New Basis Explained
Since 2018, trading in a business vehicle is a taxable sale, not a tax-free swap — the trade allowance minus your adjusted basis is gain, depreciation is recaptured as ordinary income on Form 4797, and the new vehicle's depreciable basis is its full cost.
Embroidery and Vinyl Wrap Shop Bookkeeping: Price Every Stitch and Square Foot Like You Mean It
Embroidery runs $1–$2.70 per 1,000 stitches and installed vinyl wraps $12–$20 per square foot — here is how a decoration shop builds those rates from real material and labor costs, tracks thread, blanks and film correctly, and expenses machines under Section 179 in 2026.
Roller Rink Bookkeeping: Admissions, Rentals, Parties, and a Floor That Doesn't Wreck Your Cash Flow
A roller rink is six businesses under one roof — admissions, rentals, parties, concessions, lessons, arcade — and blending them into one revenue line hides which ones pay for the building. How to track each stream, handle admissions tax, capitalize a ~$37,600 skate fleet, book party deposits as liabilities, and fund the annual floor recoat at $0.50–$2.50 per square foot.
Shutting Down Your Business for Good: The Final-Return, Payroll, and Paperwork Checklist
A step-by-step wind-down checklist — final 1040/1065/1120 returns, final 941/940/W-2 payroll filings, state dissolution, EIN account closure, Section 1245 and 1250 recapture on asset sales, and the 3-to-7-year record retention rules.
The Capital Construction Fund: How Commercial Fishermen Defer Tax on Vessel Money
The Capital Construction Fund lets commercial fishermen deposit fishing income before income tax under IRC Section 7518 and spend it tax-free on building or rebuilding a U.S. vessel — at the cost of reduced depreciable basis. This guide covers the 2-net-ton eligibility floor, the three internal accounts, qualified versus nonqualified withdrawals taxed at the top marginal rate plus interest, the 25-year clock, and the annual NOAA Form 34-82 filing.
Mortgage Points and Origination Fees on Rental and Business Property: What to Amortize, and the Same-Lender Refinance Trap
Points on rental and business property are prepaid interest that must be amortized per scheduled payment, not per year — $4,800 on a 20-year loan is $20 a payment, so a 3-payment first year deducts $60. Refinancing with the same lender blocks the write-off of leftover points and rolls them into the new loan's term.