A CPA and tax attorney can be a huge help to working RVers. Writing for us is tax expert and legal authority, Martin M. Shenkman, CPA, MBA, JD. He is an accountant and lawyer who also RVs.
Tax Lawyer and Accountant Martin M. Shenkman Looks at RV Business Legal Issues A tax lawyer and accountant (CPA) looks at legal and financial matters differently than your typical RVer. Attorney Shenkman is here to help with RV business legal issues and to provide tax help.
Minimize State Income Tax Issues by Keeping a Tax Diary Calendar Log Book The state income tax maze is risky. State tax audits can blind side you. What does this new aggressive environment mean for the working RV’er? Keep a calendar log of what you do, when, and where.
More than One State Tax Authority May Claim Income from Working RVers The state tax authority in every state you have connections to may lay claim to your earnings and expect you to file state income taxes. Attorney Shenkman puts this into perspective for working RVers.
File State Taxes If in Doubt - Income Tax Filing Requirements Vary by State File state taxes if you are required to do so, warns Attorney Shenkman, and you may need to in multiple states. This is part three of his eight part series on income tax liabilities for working RVers.
Tax Allocation - Determining What State Receives How Much of Your Tax Money Tax allocation for RVers working in more than one state can be tricky, according to tax attorney Martin Shenkman, who continues with his eight-part series on state income tax issues for work campers.
Your Tax Home Is Where? A Tax Attorney Helps Working RVers Decide Your tax home state and residency determine in part where you pay state income taxes, according to tax lawyer Martin Shenkman, who continues to provide tax help and advice to working RVers.
Your Tax Domicile Doesn't Change Just Because Your Address and RV Registration Do Your tax domicile might not be where you think it is. Tax expert CPA Martin Shenkman shows where changing your address, registering your RV, and registering to vote may not change your home state, domicile.
Employee Deductions Can Save Working RVers Tax Money Employee deductions can reduce the amount of income tax working RVers must pay. These tax deductions aren't limited to RVers who run a business. These are unreimbursed job expenses.
Avoid the Hobby Loss Tax Deduction Limits Hobby loss or business loss? There's a big difference for working RVers when it comes to what you can legally deduct. An income tax expert offers help in making sure your business is seen as a business in the eyes of the IRS.
Turning Your Hobby Into a Business Can Make (or Save) You Money While RVing Converting your current hobby (or finding a new one) into a business that you do while RVing can save you -- or earn you -- a significant sum. CPA Shenkman explains why and how.
Retirement: Are You Financially Ready? Retirement means financial changes. As a CPA, the author stresses the importance of planning, budgeting, and working longer. He cites working while RVing as one way to get started sooner.
Quitting Your Job to Start a Business? Some Things to Consider First Quitting your job isn't the first thing you should do if you're ready to leave your job and start an RV based business. You need to consider taxes, insurance, cash flow, agreements, etc. Read Plotting the Great Escape: Leaving Your Job for Self-Employment.
Your Employment Agreement is Important - Read It Before You Resign Your employment agreement, or the similar agreement you have with your employer, is important. These could affect how, when, and possibly, even if, you depart to start your own business.
Adequate Cash Flow Is the Life Blood of Your Business Cash flow is one of the biggest challenges to a new business. Do cost estimates. Crunch the numbers before you jump. It can be especially dangerous if you underestimate your business costs.
Business Insurance Coverage to Protect You and Your Property Review all the RV business insurance coverage you need and obtain costs. Be careful to evaluate insurance coverage in light of any unique circumstances working from an RV might create.
An S Corporation and Payroll Tax for Your RV Business As S corporation may be the best legal form for your RV business. An attorney explains why you might choose an entity over a sole proprietorship and discusses some tax consequences for doing so.
An LLC May be the Right Entity for RVing Business Owners An LLC is one form of business entity that may be right for working RVers who want to run a business from their RV. In this article Martin Shenkman, CPA, JD, lists the steps and tells why.
A Sole Proprietorship is the Business Structure of Choice for Some RVers A sole proprietorship is the simplest form of business for RVers to set-up. Here's an example of an RVing couple who did that, along with advice and information from Martin Shenkman, CPA, JD.
Income Tax Problems Can Plague RVers But There Is Help Many people were hit hard by the recession. There has been a lot of talk, articles, and more about those who became full-timers, not so much because they wanted to but because the economy forced them to. Regardless of why you are a working RVer, you may be required to pay income taxes, but not have the cash to do it.
About the author of these articles: Mr. Shenkman has a Master of Business Administration degree, and is a lawyer and certified public accountant specializing in business transactions, tax planning, estate planning, and closely held business taxation. A widely quoted expert on tax matters, he is a regular source for numerous financial and business publications, including The Wall Street Journal, Fortune, Money, and The New York Times. He has appeared as a tax expert numerous times on television, including The Today Show, CNN, and the NBC Evening News. He has a regular weekly radio show on Money Matters Financial Network. His website, LawEasy.com provides what he describes as "practical legal stuff in simple English."
Besides being a CPA and tax attorney, Shenkman is an RVer with a special cause. He is an avid fundraiser for the National Multiple Sclerosis Society and The Michael J. Fox Foundation For Parkinson's Research. See his RV4TheCure.com website for how you can help him fight MS. Besides RV business tax info, income tax help, and legal information, he will share some of his RVing and fundraising experiences with us.