As long as you are full-time Forex traders, you will enjoy some impressive tax advantages that ordinary market participants won't get. However, this qualification might be challenging....
Running a farm can be cumbersome when you consider several expenses and income sources, credits and deductions, etc., which makes things complicated when it is time to file taxes. Everyone...
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
With an April 15 tax deadline just around the corner, getting here sooner than we all want or expect it to, last minute filers and even those individuals and businesses who begin to...
Posted by Carmen Garcia on 12/21/2020
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....
Everyone wants to cut taxes, but sometimes people try too hard. Over the years, taxpayers have presented many foolish arguments to justify their tax incentives. We had put together...
Posted by Elliot Kravitz, ATP on 06/11/2020
Trader tax status (TTS) comprises the cost of doing business treatment and opens an arrangement of essential tax benefits for eligible active traders. The initial step is to know if...
Posted by LLOYD J CAZES CPA on 10/23/2019
Suppose you think of a company as an unincorporated parallel business. If your business expenses exceed your income, you will have a net loss. You may feel that you can deduct this...
Posted by YourIRSTaxAdvocate.com on 07/29/2019