Summer Jobs and Taxes

Summer Jobs and Taxes

Now is the time to prepare for the not-so-pleasant part of having a summer job – paying taxes! Here’s what you can expect depending on what type of job you have this summer. The employee. A job at a retail store or restaurant generates earned income that is subject to...
Tax Consequences of Virtual Transactions

Tax Consequences of Virtual Transactions

As social distancing turns convenience into necessity, the number and types of activities moving to the internet is exploding. It’s important to remember that these virtual events often trigger real-world tax implications. Here are some things to keep in mind:...
The Secret to a Quick Tax Refund

The Secret to a Quick Tax Refund

Delayed tax refunds, penalties for not filing 2020 tax returns on time that were actually filed on time, and timely tax payments being flagged as late are just some of the headaches taxpayers are grappling with due to a massive backlog of several million...
Easy-to-Overlook Tax Documents

Easy-to-Overlook Tax Documents

With tax season now officially underway, here are several tax documents that may be easy to miss in your mailbox or inbox: Child tax credit letter. From July through December 2021, the IRS paid out 50% of projected child tax credit payments to qualified households....
Cryptocurrency: The IRS is Watching You!

Cryptocurrency: The IRS is Watching You!

Whether you own cryptocurrency or not, everyone should know the tax rules surrounding this type of property as it becomes more popular. If you have one take away regarding cryptocurrency, it should be this: Remember that Uncle Sam is watching you! Here’s what...