Taxes are one of the only certainties in life, and cryptocurrencies are no exception.Yes, your Bitcoin is taxable. The IRS treats ownership of cryptocurrencies as "property"...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/06/2021
A 401(k) plan can be an attractive way to invest because it gives employees the ability to increase their contributions before tax and tax-deferred income until retirement. According...
Ideally, scholarships and grants should not be taxable, which is good news for students. However, it is too early to rejoice as Uncle Sam might want a cut based on the amount you got...
Posted by Pat Raskob on 03/08/2021
The Internal Revenue Service (IRS) estimates that millions of transactions with cryptocurrencies go unreported, despite awareness of tax rules and measures to create lawsuits against...
Posted by Taxes Made EZ Inc on 06/15/2020
Bitcoin’s value has fallen by more than half its value in November 2021, and this has caused the entire cryptocurrency market to crash. Bitcoin’s crash has affected other...
Posted by KLSM CPA Firm PLLC on 08/31/2023
Accurate reporting of income to the Internal Revenue Service (IRS) is an essential responsibility for every taxpayer. Failure to report income can result in significant penalties and...
Posted by KLSM CPA Firm PLLC on 07/02/2023
The gig economy applies to people ranging from freelance consultants to Uber drivers or full-time employees who do a side hustle. The tax returns are different whether you're paid...
Posted by KLSM CPA Firm PLLC on 10/30/2022
Sexual abuse is a widespread problem affecting millions worldwide, not just in the United States. It can happen to anyone, regardless of gender, age, or social status. Victims of sexual...
Posted by KLSM CPA Firm PLLC on 03/10/2022
The IRS is a name every taxpayer and accountant hears every day. The IRS reviews the taxpayer's account and financial information to ensure the rules are followed. The IRS can...
Posted by KLSM CPA Firm PLLC on 02/08/2022