The only things certain in life are death and taxes. While taxes are certain in life, many investors do not consider them when making their retirement portfolios plan. If you do not...
A cryptocurrency wave has led to the rise of Bitcoin to over $30,000 per coin, with everyone scrambling for their share of the digital currency. However, if you are interested in cryptocurrencies,...
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
How much you paid for your cryptocurrency (cost basis) greatly impacts the taxes you pay when you finally sell them. Understanding how the specific ID, first-in, first-out (FIFO),...
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
Will you pay taxes on the sale of your home? Probably not, unless you have an income over $ 250,000 or over $ 500,000 for couples. But before we continue, let's take a look at...
What is Liquidation?Liquidating a business is the process by which business comes to an end and no longer exists. This can happen for several reasons and can be voluntary or involuntary....
Prepared or not, tax return reporting was amended once more for the 2020 tax year. The IRS considerably fused the Form 1040 in 2018 which results in a total reconstruction of the old...
Posted by Freddie Cook, CPA on 04/03/2020