Personal Tax

Article Highlights: Exercise Stock OptionsConvert a Traditional IRA to a Roth IRAMaximize IRA DistributionsSell Appreciated StockDelay Business ExpendituresRelease DependencyDelay Personal Deductible Expenditures People generally assume that tax planning only applies to individuals with the big bucks. But think again, as some tax moves benefit lower-income taxpayers and … [Read more...] about Take Tax Advantage of a Low-Income Year

Article Highlights: Coinbase Disclosure IRS Compliance LettersNew 1040 QuestionReporting under Penalty of PerjuryTreated as PropertyEmployee PaymentsIndependent Contractor IncomeInformation Reporting New IRS Guidance Back in 2018, Coinbase, a company handling virtual currency (also referred to as cryptocurrency) transactions, released the data of 14,000 of its users to … [Read more...] about The IRS Is Hot on the Trail of Unreported Virtual Currency Transactions

If you asked brand-new entrepreneurs to make a list of everything they think might one day pose a threat to their startup, you'd probably hear a variety of answers with similar themes.  Some might be (rightfully) worried about ultimately developing a product in search of a marketplace. Others may be worried about how they're going to overcome the cash flow issues … [Read more...] about Cofounder Conflict Could Be One of the Biggest Threats to Your New Business

Article Highlights: Watch Out for Charity ScamsTax Exempt Organization Search ToolTax Benefits of Charitable ContributionsBunching DeductionsQualified Charitable DistributionsSubstantiation As the end of the year and the holiday season approach, we will all see an uptick in the number of charitable solicitations arriving in our mailboxes and by email. Since some charities … [Read more...] about Year-End Tips for Charitable Contributions

Article Highlights: Employee GiftsGifts of College TuitionCollege Student SuppliesElectric Car CreditWork EquipmentSolar Electric CreditCharitable Gifts Some holiday gifts you provide to members of your family, employees, and others may also yield tax benefits. Here are some examples: Employee Gifts – It is common practice this time of year for … [Read more...] about Holiday Gifting with a Tax Twist