The IRS has enforced new laws for taxpayers running a ranch or farm business. Although business can be overwhelming, the new laws have complicated it. Agriculture is a broad and uncertain...
Posted by Pat Raskob on 01/17/2023
This goes for the money you earn and the interest and dividends you earn on your investments. Unless the IRS specifically describes a type of income as non-taxable, you are expected...
Posted by Tiffany Gaskin on 12/31/2022
One good thing about trading is that all you have to do to become a trader is get started. Many people trade as a hobby, while others trade full-time for a living, and some traders...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/16/2022
Musicians are sometimes in the news for one tax case or the other, which can be embarrassing as it is viewed as a dent in their career. From composers to teachers of music, performers,...
Posted by Dennis Jao on 07/31/2021
Many pet owners consider their domesticated part as part of the family.Uncle Sam, however, disagrees with this claim, which explains why you cannot claim your beloved cat, dog, hamster...
Posted by KLSM CPA Firm PLLC on 06/24/2021
Many people have hobbies like playing the piano or bead making simply for fun and do not expect any special monetary compensation from it. Some hobbies might require a couple...
Posted by KLSM CPA Firm PLLC on 03/17/2021
The gambling industry in America is booming because fresh casinos and sports betting centers are springing up in various parts of the country. People that enjoy gambling know and realize...
Posted by Tiffany Gaskin on 01/06/2021
We all have that one activity we love to do. It is something used to take our minds off the stress of the day; it is our escape. However, there comes a time when this activity becomes...
Posted by Tiffany Gaskin on 12/03/2020
Of all the tax returns submitted in 2019, only 0.4% were audited, and 80% of the review was done via mail. This rate has dropped significantly in consequent years, and the COVID-19...
Posted by CORE PERFORMANCE on 09/09/2021
