Tag Archives for " tax considerations "
Adjust Your 2023 Withholding Now or Get a Surprise Later
The Internal Revenue Service (IRS) has issued an alert to taxpayers, encouraging them to adjust their 2023 withholding so as to either avoid effectively giving the government an interest-free loan of their
Read MoreTax Filers Must Answer New Crypto Question or Face Consequences
The Internal Revenue Service (IRS) issued an alert recently to taxpayers, reminding them that they must report all digital asset-related income and answer a new digital assets question on their 2022 federal
Read MoreSome New Year’s Resolutions for Tax and Accounting Professionals
Well, it’s officially 2023, and lots of people seem to be buzzing with renewed energy for self-improvement. If you've already begun that endeavor, maybe you’ve already started working on your own resolutions
Read MoreTax Prep Checklist: What to Gather Before Filing
Whether you file your taxes yourself or hire a professional accountant, the first step in your tax prep is gathering all the information you’ll need to complete your tax forms.While not exhaustive for
Read More7 Personal Financial Resolutions for the New Year
And (Most Importantly) Real Tips on How to Keep Them!Another holiday season has come and gone and we find ourselves ringing in 2023 – time to turn over a new leaf, right? If you’re thinking about sharpening
Read MoreWhat the Wealthy Can Fear from a New IRS Law on $600 Payments
A new IRS law that requires cash apps and online marketplaces including Venmo and eBay to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy.Under the rule,
Read MoreWhat the $80 Billion in IRS Funding Means for Your Tax Return
Should taxpayers expect more scrutiny from the Internal Revenue Service, a chunk of whose $80 billion in additional IRS funding will pay for more auditors to ferret out tax cheats?Shortage of IRS accountants
Read MoreWhat Is a 1099-K? Who Gets One and How It Works
Simply put, a 1099-K form is a record that a third-party payment network transferred at least $600 to you during the year.Did you get paid more than $600 in 2022 for goods or services through a third-party
Read MoreNow is the Time for Year-End Tax Planning
With only a little while left in 2022…It’s time to review your year-end tax plans.Knowing the federal tax breaks to take advantage of and the pitfalls to avoid can save you money. Let’s start
Read MoreIRS Criminal Investigators Probe COVID Fraud
Billions of dollars in fraud related to pandemic relief have been uncovered by a joint division of the Internal Revenue Service's Criminal Investigation unit and the Justice Department. The division, also
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