Roth IRA Strategies for Physicians

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 …

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Cryptocurrency Taxation: A Basic Guide [Part 2 of 2]

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 …

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Nanny Tax Rules: Does It Apply To You?

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 …

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