Classifying Hobby and Business Income
Classifying Hobby and Business Income
Whether you’re an entrepreneur looking to turn your passion into profit, or a hobbyist seeking [...]
IRS Form 1099-K
Reporting Payment Card and Network Transactions on Form 1099-K
If you work for yourself and get paid through online payment services like PayPal or Square, you mig [...]
OnlyFans Taxes Explained
OnlyFans Taxes Explained
If you're a content creator on OnlyFans, you may seek ways to earn a quick buck. But before making m [...]
FBAR: Who Should File & What Happens If You Dont
FBAR Filing Requirements: Who Needs to File FinCEN Form 114?
Did you just learn about FBAR filing requirements? Are you worried that you should have filed one an [...]
Understanding Uber and Lyft Taxes
Understanding Uber and Lyft Taxes
Are you thinking of becoming a rideshare driver for Uber or Lyft? Great idea! Not only is it a flexi [...]
Understanding Venmo, PayPal, & Zelle Taxes
Taxes for Venmo, PayPal, Zelle and more
In today’s digital age, more and more people are using money-transferring apps like Venmo, PayPal, [...]
Qualified Appraisals For Donated Crypto
New IRS Guidance: Qualified Appraisals For Donated Crypto
For non-cash charitable contributions to a 501(c)(3) organization, taxpayers often need clarificatio [...]
Claiming Tax Losses for Worthless Cryptocurrency
New IRS Guidance: Claiming Tax Losses for Worthless Cryptocurrency
In a recent Chief Counsel Advice, the Internal Revenue Service (IRS) addressed the applicability of [...]
FBAR Penalties: What Happens If You Dont File the FBAR?
FBAR Penalties: What Happens If You Don’t File the FBAR?
The FBAR, or Foreign Bank Account Report, is a form that must be filed annually by individuals who h [...]