From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
IRS Form 1099-A is an informational declaration that reports the application of a property. Homeowners typically receive an IRS Form 1099-A from their lender after their home has been...
Every time you file your taxes, a trail of paperwork is involved. Once you've settled with the IRS, you might be tempted to throw away all those documents. But the IRS recommends...
Posted by KLSM CPA Firm PLLC on 12/08/2022
As the year winds up, many might feel it is too late to get any savings on their tax. However, no matter what you already earned as income, there are some moves you can make to reduce...
Posted by Karen Munoz, EA on 11/21/2021
Does the IRS take a large chunk of your cryptocurrency income? Maybe you traded one cryptocurrency for another at the right time and withdrew a lot of it in dollars, and now you have...
Posted by CORE PERFORMANCE on 05/29/2021
According to the IRS, tax rates will depend on the taxpayer's source of income. Your income from the sale of stocks, for example, will generally be taxed at a lower rate than your...
IRS Form 8949 is a tax form used primarily to report sales and trade of capital goods. Form 8949 is filed alongside Schedule D of the income tax form.What is IRS Form 8949?Form 8949...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...