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Implications for Cryptocurrency Investors
Over the past several years, cryptocurrencies have become popular with investors… and the IRS. Investors of various virtual currencies have ignored or tried to slip past the guidelines on how it's considered taxable. On the same token, tax preparers for crypto investors haven’t stayed informed enough about the...
Back To School: Child Tax Credits & Refunds To Claim
The time of the year has come for kids to get back to school! As they dive into the books and gain knowledge, you can too. When it comes to having children, there are specific tax credits to consider which can significantly assist your clients in the long term. There are two types of credits that can help leave money...
Is It True That The IRS Hired 87,000 New Agents To Audit Americans?
Recently there was a bill proposed for hiring roughly 87,000 new IRS agents over the next 10 years. As of Aug 12, 2022, the proposed bill passed under a massive climate and health care bill to include the $80 billion increase in IRS funding over the next decade (a 10% budget increase annually) and an increase in...
Deductions Update: Know What To Claim on Your 2022 Tax Return
Tax filing season for 2022 will be here before you know it! To ensure you are up to date on what to expect this upcoming tax season, we’ve put together a quick summary of changes and updates to a few key tax deductions that should be considered. Business Meals - Business-related meal expenses are only...
Natural Disaster Tax Relief Options
From tornados to tsunamis, ice storms to wildfires, natural disasters are found worldwide in an array of categories. Each comes with its own impact on you and your community, so staying informed about the different ways you can be supported is important. Even in the midst of a disaster that turns your world upside...
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