This year, you worked hard to provide for your family. As an independent contractor, you were proud that you were able to earn the kind of income you wanted in your own time and on your own schedule. When tax time came around, you were shocked by what you found you...
Even in our uncertain economic times, Atlanta remains a booming city in the southeast. As such, Atlanta lures many workers from other areas of the country. There are many individuals who are residents of other states who earn a significant amount of their wages here...
Parents in Georgia and throughout the country who share custody of their children may be unsure as to who gets to claim them as a dependent. While taxpayers aren't allowed to obtain exemptions for their dependents until at least 2025, dependent tax credits are still...
Although bitcoin and other cryptocurrencies are gaining popularity throughout the world, some Georgia residents who deal in crypto could be confused about how to file their taxes. Also, CPAs may not be as knowledgeable on the latest IRS rules concerning them,...
Georgia residents who owe less than $1 million in income taxes will have until July 15 to file their most recent tax returns. Corporations that owe less than $10 million will also get an extra 90 days to file a return and pay their income taxes. However, those who are...
The IRS has proposed new regulations on how to deduct business expenses under the Tax Cuts and Jobs Act (TCJA), which added some restrictions and limitations. Previously, taxpayers could deduct 50% of all entertainment, amusement, or recreation expenses as long as...
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...
Are you expecting a holiday gift or bonus? If so, terrific. You should be aware, however, that gifts and bonuses are taxable as income. Even if your employer specifically states that you're receiving a gift, the IRS won't treat that present as an actual gift but...
The IRS has been increasingly interested in tax compliance by those who receive income in virtual or cryptocurrencies. According to the agency, income from investments in these currencies are taxed at the appropriate capital gains rate.That's going to require a lot of...
In 2014, the IRS made clear that it considers Bitcoin and other cryptocurrencies to be property, not currency. These convertible virtual currencies, or CVCs, are therefore taxed as capital gains.In other words, when you sell CVCs, exchange them for other CVCs, or use...
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