IRAs, or Individual Retirement Accounts are a great way for Americans to save for their retirement, with several different retirement accounts being available. Roth IRAs, for example, are great for high-income professions such as doctors and physicians who anticipate retiring in a high tax-bracket, due to tax free withdrawals. The Internal Revenue Service (IRS) allows …
If you missed Part 1, we outlined the basics of cryptocurrency tax, when you owe taxes on different types of trade (including when you receive crypto as a gift), calculating your cryptocurrency capital gain or loss, understanding different accounting methods when it comes to calculating this, and how to keep track of everything. This article …
Cryptocurrency Taxation: A Basic Guide [Part 2 of 2] Read More »
Cryptocurrency is a relatively new concept, and when dabbling in the world of Bitcoin most investors aren’t thinking about taxes. With the IRS continuing to refine the compliance laws around cryptocurrency though, it is important to understand the rules of crypto tax. This article will be part of a two part series. We will cover …
Cryptocurrency Taxation: A Basic Guide [Part 1 of 2] Read More »
by Alexis E. Gallati
If you have received an inheritance or a gift from a foreign individual or company within the past year then this article is for you. We will give you a run down of all you need to know surrounding foreign gift tax. If you have received a gift/inheritance that is not cash, it is advised …
This article was written to help you answer the question: Should I superfund my 529 plan? First, let’s start with the basics. What is a 529 plan? With colleges and universities becoming more necessary in today’s world, but with tuition prices on the rise across the country, the 529 plan is something you should consider …
Hiring a babysitter, or nanny, is a great way to have in-home care for your kids while you’re working, running errands, or doing whatever it is that you need to do sans-children. What you may not know is that the IRS sometimes considers these caregivers to be “household employees”, and therefore requires employment taxes (or …
