Taxes
Recordkeeping: The Key to Smooth Tax Transactions
Well-organized records make it easier to prepare a tax return and help provide answers if your return is selected for examination or if you receive an IRS notice. OK… here’s the deal. As a tax-payer, ...
A Blender & Tax Resolution
One accountant’s reflection on what a 1960s blender and tax resolution services have in common. The Good Old Days When I was a kid, growing up in the late ‘50s through the early ‘70s, my father sold h...
Taxation of Cryptocurrency and NFTs: New Rules Coming
Cryptocurrency, a type of digital currency that uses cryptography for security and anti-counterfeiting measures and is not controlled by any bank or government, is becoming more mainstream as more com...
A Proposed Solution to Our Current Tax System
It’s time to take a fresh look at how we tax people here in the United States. While the IRS is a necessary entity that serves a legitimate purpose, we as a country need to shift our approach toward a...
Will the Federal Government Put Limits On 1031 Exchanges?
A 1031 Exchange is a tax-advantage option in which a taxpayer can exchange one investment real property for another. Taxpayers are able to defer the tax consequence of the sale of the original investm...
When Is It Time to Outsource Accounting for Small Businesses?
Small business owners are no slouches when it comes to wearing many different hats in order to run a successful business. While they may dream of solving problems by delivering a much-needed product o...
Homestead Exemption Increased for California Debtors
It has been more than eleven years, but on September 18, 2020, Governor Newsom approved and adopted Assembly Bill 1885 (“AB 1885”), which dramatically increases the homestead exemption in California t...
What To Know About Getting a Tax Refund
The IRS noted in a recent statement that most taxpayers are issued refunds by the IRS in less than than 21 days. However, you may find that yours is taking a bit longer. Here are six things that may b...