The IRS is intensifying its hunt for people who don't pay taxes on their cryptocurrency gains. Although people are becoming more aware that cryptocurrency gains and losses are taxed as capital gains and losses, the IRS fears that many millions of transactions may be...
Month: January 2020
Trying to minimize your taxes is legal, but evading them is not
Tax filing season is here, which often means people will soon find themselves dealing with letters related to unpaid taxes or even advising them of an upcoming audit of their financial records. While business owners and independent contractors typically have an...
Earn money in the gig economy? New IRS tax center for you
Workers in the gig economy, also referred to as the "sharing economy," "on-demand economy" and "access economy," are typically considered independent contractors. If you earn money driving for Lyft, picking up groceries through Instacart, delivering food for Grubhub...
Syndicated easement deductions are illegal, but IRS struggles
In theory, conservation easements are a benefit to the public. When a landowner donates land to the government or a land trust for conservation purposes, they can deduct the value of that land from their taxes. This potentially contributes new land to public use and...
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