As a tax professional, sometimes you get those questions that are small enough that you don’t want to bother charging anything for the reply, but are time-consuming enough that you want a reward greater than good vibes from your client. The answer? Write a blog post and use it for marketing. Situation: Client and 4 …
How Do I Report Gambling Winnings for a Group of Individuals? Read More »
Under a certain volume of sales, it all depends on whether you have nexus in a US state. That means physical presence, which can be as minimal as having an employee or renting an office. Above a level of sales (varies by state) you would have to collect sales tax – this is the fallout …
Great Overview of Sales Tax in the US, for a Foreign Client Read More »
UPDATED – Mar 25, 2020: With everyone focused on the FEDERAL delay of filing and payment deadlines to July 15, it’s important to note that some STATES have not delayed their filing and/or payment deadlines for 2019 individual and business income taxes. The following summary is by no means comprehensive, and is focused on INCOME …
UPDATED – Mar 25, 2020: With everyone focused on the FEDERAL delay of filing and payment deadlines to July 15, it’s important to note that some STATES have not delayed their filing and/or payment deadlines for 2019 individual and business income taxes. The following summary is by no means comprehensive, and is focused on INCOME …
UPDATE – Mar 20, 2020: Treasury Dept announces that tax filing deadline has now been pushed to July 15 (3 months) to align with payment deadline Status of Q1 2020 estimated payments not mentioned Status of high earners or large corps not mentioned (see below) No word on whether $1,200 payments will be taxable, but …
See you this Wednesday, March 6! https://www.eventbrite.com/e/cryptocurrency-and-taxes-learn-what-the-irs-says-for-2018-19-tickets-54660389697
Well, it’s been a pretty rough past year in the crypto markets. From a high of $19.5K on December 16, 2017, Bitcoin has fallen 78% to its current price of $4.3K as of this post. Ether has collapsed from $1,400 on Jan 13 of this year to $123 on Nov 24. Most altcoins have fared …
“Harvesting” Losses – Tax Lessons for Crypto Traders Read More »
2017 and 2018 were bookends, from a tax perspective, to a pretty interesting time in the crypto markets. Towards the end of 2017 we saw a massive increase in prices of Bitcoin and altcoins, and a frenzy of buying and selling activity. ICO volume peaked in December 2017, with monthly funds raised topping out in …
Can I Return Crypto I Received as Compensation and Not Get Taxed? Read More »
Yes, it’s true. Tax time is right around the corner. And for those of you who own cryptocurrency coins/tokens, it’s extra-special. That’s because investing in cryptocurrency is a recent phenomenon – fewer than 10 years old – and presents some interesting tax issues. This post will give an overview of crypto taxation, and then help …
As a CPA, people come to me for answers to many of life’s mysteries. And as long as that answer is somewhere in the IRS code, I can help. Recently, a client asked me about how he and his partners could receive biweekly or monthly distributions from their LLC. Could they actually be paid a …
