If you haven’t, don’t worry – it’s a fairly new concept that’s been gaining popularity in recent years. A digital nomad is someone who works remotely and is not tied down to a physical location. This means they can work from anywhere with an internet connection, whether it be a coffee shop, a co-working space, […]
Cryptocurrency Taxes
As the popularity of cryptocurrencies continues to grow, so does the scrutiny from government agencies like the Internal Revenue Service (IRS). The IRS has been working hard to ensure that taxpayers who invest in cryptocurrency are properly reporting their gains and losses on their tax returns. In this article, we’ll discuss what cryptocurrency taxes are, […]
How to Avoid a Surprise Tax Bill & What To Do If You Receive One
Tax filing season is here again, and millions of hardworking Americans are already dreaming of those big refund checks. Unfortunately, many of them may be disappointed this year. Taxes can be a complicated and often stressful aspect of personal finance. Nobody wants to be caught off guard with an unexpected tax bill, but it can happen for a variety of reasons. So, what can you do if you find yourself in this uncomfortable situation? How can you avoid ending up with a big tax bill this year? Here are some tips to help you avoid a tax bill and some advice on what to do […]
The Biggest Mistake Tax Payers Make – Avoid Paying Back Taxes
One of the biggest mistakes taxpayers make is failing to pay their back taxes. This is a common problem for many Americans, especially those who are self-employed or have multiple sources of income. When you owe back taxes, it can be tempting to ignore the problem and hope it goes away, but this is not a good strategy and will just make the situation worse. In this blog post, we will discuss the consequences of avoiding paying back […]
What Income Are You Required to Pay Tax On?
In general, income can be received in three ways – money, services, and property – and IRS requires you to declare most of this income on your tax return. Income is taxable unless specifically exempted by law, and in some cases, even nontaxable income must be disclosed on your tax return. Taxable Income Typically, the […]