The Internal Revenue Service doesn’t consider cryptocurrency to be actual money. But it does consider it to be a valuable asset and if you made dollars on bitcoins and other cryptocurrencies, that money is going to be taxed … BUT, … Read More
Author Archives: Kyle Dugan EA CAA
April’s Amusing Tax Convictions
As Tax Season winds down, it’s hard to not take a moment, when we peruse the latest Justice Department Tax Division news and not shake one’s head. Seemingly daily, unscrupulous tax “professionals” are being sentenced to prison for all types … Read More
March’s Real Estate Corner
Here’s a happy problem: Should you renovate or move? No matter what choice you make, you are going to have something better, but both require – and cause – some stress. If this is your decision to make, start … Read More
March’s Amusing Tax Convictions
Here we are in Tax Season “for real” and, as always, unscrupulous preparers are leading the charge to the prison! The U.S. District Court for the Southern District of Florida has permanently enjoined a Miami-based tax return preparer Arnold … Read More
Inflation Proofing
I took a little heat from my post last week, where I listed some ideas on how taxpayers could use refunds to create new money, and for the couple folks who want to spend their refund? Great. I totally understand. … Read More
Tax Time: Go For The Refund, or No?
Not to be a downer, but if you get a refund come tax time, it means one thing: you had too much money withheld from your paycheck throughout the year and you gave the government an interest-free loan. Not that … Read More
Tech Layoffs Explained
Maybe you’ve noticed it in the news, but it’s far bigger than Twitter and Elon Musk’s tweets. After expanding staff sizes for years, many tech companies have announced dramatic layoffs in recent months. What’s driving the downsizing? Certainly the risk … Read More
Cash Actually Is Trash
Yes, that title is a little over the top, but from where I sit, as a tax professional, cash isn’t the best medium to have on hand. It’s losing its value daily, it’s devilishly hard to keep a grip on, … Read More
Don’t Take the Early Refund Deal.
I’m sharing this as a sort of public service, because the truth is, I don’t like the whole “early refund” silliness… On the other hand, I cringe a little bit when I hear young people talking about getting their return … Read More
Is the Party Over for Tax Credits?
The big tax perks after the pandemic are reduced this year. Parents won’t be getting checks, but they will still have a (smaller) credit to use against taxes owed. The Child Tax Credit was boosted for the 2021 tax year … Read More