Tax News

If you invest in cryptocurrency or digital assets, you may receive a new tax form in your mailbox, inbox, or available for download: Form 1099-DA (Digital Asset Proceeds From Broker Transactions). ...

The kickoff to football season is here, and whether you are grinding out daily fantasy lineups, placing parlays on your phone, or trading event contracts, millions of dollars are moving across screens...

One of the most common statements I hear from cryptocurrency and digital asset investors is: “I never cashed out to my bank account, so I don't have to report anything to the IRS.” Unfortuna...

 Download complete transaction histories: Export CSV files and trade confirmations from every exchange and platform you used during the year—including purchase dates, original costs, and networ...

That mile-long receipt you just got from the drugstore may be more valuable than you think. As we gear up for summer, you’re likely stocking up on warm-weather essentials. But before you toss tha...

We are all told that qualified dividends and long-term capital gains are "preferential" income. It’s one of the few silver linings when filling out your tax return. The conventional wisdom is that t...

If you’re approaching retirement, you’ve probably heard the classic advice: Max out your HSA because it’s triple tax-advantaged, and do Roth conversions when your income drops. But there is a hy...

If you’re approaching retirement, you’ve probably heard the classic advice: Max out your HSA because it’s triple tax-advantaged, and do Roth conversions when your income drops. But there is a hy...

If you’re approaching retirement, you’ve probably heard the classic advice: Max out your HSA because it’s triple tax-advantaged, and do Roth conversions when your income drops. But there is a hy...

Jaclyn Barkow, DBA, EA, CPA As the end of the calendar year approaches, it is crucial for retirees and some retirement account holders to ensure they have take any Required Minimum Distributions (o...

Jaclyn Barkow, DBA, EA, CPA   Tax deductions are generally classified as either “For AGI” (adjusted gross income) or “From AGI” deductions. With the passage of the One Big Beautifu...

By Jaclyn Barkow, DBA, EA, CPA Taxpayers, who have yet to receive their Economic Impact Payments from COVID-19 relief efforts, are running out of time to do so. Originally, the Economic Impact Paym...

By Danielle R. Page, EA March 1, 2024 It is time to file your tax return, only 45 days until April 15th, Tax Day! You have collected all your tax documents, and you quickly run to your favorite t...

As you prepare and file your 2023 income tax return now is a perfect time to consider strategies to maximize your 2024 income tax return savings. The IRS has announced the annual inflation adjustments...

By Jaclyn Barkow, DBA, EA Now that the New Year 2024 is upon us, tax season is fast approaching! For your personal taxes, there are a few security measures you should be aware of, regardless of your ...

An Individual Retirement Account (IRA) rollover refers to the process of moving funds from one retirement account to another without incurring taxes or penalties. This transfer can occur between diffe...

On November 21, 2023, the IRS announced a delay in the 1099-K forms reporting threshold for third-party platform payments in 2023 in Notice 2023-74. The IRS has been following feedback from taxpayers,...

Did you know decisions made 2 years ago can affect what you pay for Medicare Part B and D premiums for the current year? That’s right; premiums for 2024 are determined by your 2022 tax filing. ...

Taylor Swift concerts are a billion dollar industry and the IRS wants to capture some of the Blank Space. Originally part of the American Rescue Plan of 2021, the threshold for issuing a 1099-K for tr...

What is cryptocurrency? Cryptocurrency is a form of virtual currency that can be used as an alternative fonn of payment using encryption technology, making digital money designed to be used over the i...