- Where Do You Fall In The Tax Pecking Order?
- Ever wonder where your income puts you in comparison with the rest of the U.S. taxpayers? Each year the Internal Revenue Service publishes a Statistics of Income Bulletin. The latest set of figures is for 2015 tax returns and provides some interesting statistics.
- 3 Keys to Recognizing an IRS Phone Scam
- Here are three red flags of an IRS tax refund scam.
- Tax Reform Limits Exchanges to Defer Taxes
- Whenever you sell business or investment property and have a gain, you generally have to pay tax on the gain at the time of sale. In the past, the tax code provided an exception and allowed you to postpone paying tax on the gain if you reinvested the proceeds into similar property as part of a qualifying like-kind exchange. These types of exchanges are commonly called Sec. 1031 exchanges (referring to the tax code section that allows them). These rules have applied to real estate, cars, farm animals and other business and investment items that are like-kind property.
- Cryptocurrencies and Taxes
- As our world has become more and more “digital,” it was only a matter of time before cryptocurrencies were developed. One of the first of these virtual currencies was Bitcoin, and the Bitcoin network came online in 2009. Since then, additional cryptocurrencies have been developed.
- Do You Use Your Vehicle for Business Purposes?
- The IRS standard mileage rate for 2018 increased to 54.5 cents per mile.
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