Tax Blog
Tips to help you prepare for tax season
The latest tax tips and news from Joe Tax & Business Solutions
Tax Basics: Currency and Property
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...
ERC Voluntary Disclosure Program Deadline is March 22
Many businesses, enticed by misleading information, have found themselves unwittingly in non-compliance with ERC regulations. The IRS has urged tax pr
A Brief Guide to Reporting Crypto-to-Real Currency Exchange
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...
Reporting Cryptocurrency on Your Return
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...
Filing Income Taxes as a Day Trader
The Basics For day traders, tax season presents a maze of complex rules and regulations. Unlike traditional employees who receive W-2 forms, day traders must grapple with various forms and guidelines when filing their federal income tax. Here's a simplified guide to...
Filing Taxes with Futures and Options
What is Section 1256? In the tax world, Section 1256 contracts refer to a category of financial instruments that are subject to special tax treatment under the Internal Revenue Code (IRC) Section 1256. These contracts include: Futures Contracts: Futures contracts are...
