by Joe Tax & Business Solutions | Mar 15, 2024 | Tax Tips and News
Navigating Tax Deductions: Standard vs. Itemized During tax season, understanding deductions plays a key role in minimizing what you owe or maximizing your refund. Standard deductions and itemized deductions form the two most common types of deductions. While both aim...
by Joe Tax & Business Solutions | Mar 14, 2024 | Tax Tips and News
Understanding Reporting Currency vs. Reporting Property on US Federal Tax Returns Navigating the landscape of US federal tax returns often requires an understanding of complicated terms and concepts. Among these are reporting currency and reporting property, both of...
by Taxing Subjects | Mar 5, 2024 | Tax Tips and News
Many businesses, enticed by misleading information, have found themselves unwittingly in non-compliance with ERC regulations. The IRS has urged tax preparers to act soon to verify their compliance, emphasizing the need for proactive review and correction. To help tax...
by Joe Tax & Business Solutions | Mar 4, 2024 | Tax Tips and News
Understanding the implications of selling cryptocurrency for real currency is essential for individuals navigating their United States federal income tax. Here’s a closer look at how to report these transactions: Understanding Cryptocurrency as Property: The IRS...
by Joe Tax & Business Solutions | Mar 4, 2024 | Tax Tips and News
Cryptocurrency has become increasingly popular in recent years. However, many people remain unsure about how to report them for on their income tax. In the United States, the Internal Revenue Service (IRS) has provided guidance on how to report cryptocurrency...
