Recent News
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The Ins and Outs of Cryptocurrency
As cryptocurrency continues to make headlines across the nation, the IRS is remaining vigilant about tracking down those who evade paying taxes incurred from online investments. But even though the IRS stresses that those who are using virtual currencies as “real”...
All About the Traditional IRA
My needs are fairly simple. I’m a Canine. I want pats, some good ol’ fashion ball-tossing, leather slippers, and kibble, and not necessarily in that order. What else do I look forward to every day? Checking in on my retirement accounts. I like to keep an alpha...
Foreign Accounts? Know Your Taxpayer Obligations
Foreign Bank Account Report, or more commonly known as FBAR, originally started as part of the Bank of Secrecy Act in 1970. It was designed to strongly discourage and help prevent tax evasion. But what is FBAR, exactly, and what does it mean for you? FBAR is a...
How Retirement Affects Your Taxes
Lately my cozy, warm puppy condo with its fleece carpeting has been pretty comforting, and it’s been hard forcing myself to take my 3 daily strolls outside, much less spend time grooming my coif, putting on my booties, and donning my winter coat. I don’t think I’m...
Virtual Investments and the IRS
On March 23, 2018, the IRS announced that it was cracking down on online currency investments. Much like any other type of property income, Bitcoin, Etherum, and other virtual currencies involve income taxable by law. In February 2018, the IRS forced the largest of...
FIRPTA Withholding
Are you buying or selling real property in Hawaii? If so, are you familiar with the tax rules known as FIRPTA? That’s the Foreign Investment in Real Property Tax Act of 1980. It was designed to guarantee that federal income tax liability arising from the gains of...
Small Businesses and the IRS
Uncle Sam’s sniffing around in your affairs is not limited to your private emails and cell phone conversations. Your small business’s paper and electronic trails may be leaving behind the heady scent of money strong enough for Uncle Sam to track. And Uncle Sam does...
Tax Breaks, and a Fiscal Health Warning
The end of the year is closing in, and that means that, if you haven’t already established a tax file, you need to start organizing receipts for the deductions you plan to take on your 2017 individual tax return. Don’t forget about Uncle Sam’s sweet tax breaks, even...
Travel and Taxes
I hear yelps from the Water Cooler Area that the Boss plans to have me accompany her to a dog show in New York for fun. That means I might be out of the office for a few weeks, as I’ll need to put on the dog a bit before the big event. So the big question is: Can...