What is considered a convertible virtual currency?Convertible virtual currency is an uncontrolled digital currency. Still, it can be used as a substitute for a real and legally recognized...
One of the most proven methods to bring down your tax return is to take advantage of tax deductions. It allows you to deduct expenses related to driving like fees and tolls taken by...
Student loan interest stands out for having a lower rate, which might be attractive to many. However, there are still a couple of things to know if you consider taking a student loan. Effect...
Involuntary conversion is the theft or damage of property without the owner's consent, such as partial or total destruction, theft, condemnation, or the sale or exchange of property...
Posted by Flynn Financial Group Inc on 02/16/2021
For people having difficulty settling a debt with Uncle Sam, there is the opportunity for an installment agreement every Month. For instance, people with a deficit of $50,000 or less...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
Under the cash method of accounting, not only is income recorded in the year in which it was received, but income is also reported in the year in which it is constructively received.The...
Have you received an email stating that you have filed a tax return electronically or that your tax return has been accepted or rejected by the I.R.S., but you know you have not filed...
According to Uncle Sam, miscellaneous expenses are write-offs that cannot be classified into any tax category. Examples are work uniform, clothes, work, equipment, boots, alongside...