Tips to Reduce Self-Employment Taxes

Tips to Reduce Self-Employment Taxes Self-employed individuals need to pay self-employment taxes on the top of income tax. It might seem a bit harsh on some individuals. The self-employment taxes help federal programs such as social security and Medicare. So here are some ways by which you can cut down your tax liability if you [...]

2018-07-17T23:35:25+00:00January 30, 2018|Investment & Income|0 Comments

Child and Dependent Care Expenses

Child and Dependent Care Expenses Paying for day care expenses slowly and steadily becomes a large chunk of the household income. But there is very little that working parents can do about the same. The IRS understands your pain and that is the reason they let you take credit for such expenses. You can avail [...]

2018-05-19T19:53:03+00:00January 23, 2018|Deduction & Credits|0 Comments

Details about Capital Gains

Details about Capital Gains Who wouldn’t like to see their assets growing on a regular basis? As much as we enjoy seeing our assets swell up, there is a different side to it that we must deal with, capital gains. A capital gain is a type of tax than an investor has to pay if [...]

2018-05-19T19:53:36+00:00January 20, 2018|Investment & Income, Tax Planning|0 Comments

Reporting of Income and Payment made via Virtual Currency

Reporting of Income and Payment made via Virtual Currency In the current year, virtual currencies have taken the entire world by storm. At the current times, they look like ever appreciating assets but with profound risks involved. If you have been even remotely aware of the proceedings, you would have heard of Bitcoin and its [...]

2018-05-19T19:54:20+00:00January 16, 2018|Virtual Currency|0 Comments

Bitcoin Mining as Business? Know its Tax Implications.

Bitcoin Mining as Business? Know its Tax Implications.. Slowly yet steadily virtual currencies are making their way into our lives. It has garnered a lot of interest amongst investors. While some feel that virtual or crypto currency is the future of money, others believe these are good investment instruments. You must be naïve to think [...]

2018-05-19T19:56:17+00:00January 12, 2018|Virtual Currency|0 Comments

Working from home? Claim your Home Office Deductions

Working from home? Claim your Home Office Deductions Some of us are quite lazy to drive/ride to work every day, so we prefer to set up office at home. Well, jokes apart, some of the small business that operates right out of their homes qualify for deductions. But the fear of audit keeps them away [...]

2018-05-19T19:57:28+00:00January 9, 2018|Deduction & Credits|0 Comments

What is Adjusted Gross Income (AGI)

What is Adjusted Gross Income (AGI) Most of us have come across the term Adjusted Gross Income or AGI and know that it has got something to do with taxes. But what is it exactly and how it impacts your financial life is what we are going to look into today. The simplest definition of [...]

2018-05-19T19:58:16+00:00January 5, 2018|Investment & Income|0 Comments

Is Virtual Currency Taxable???

Is Virtual Currency Taxable??? If you haven’t heard of the phenomenal rise of the crypto currency Bitcoin, then you are missing out on something. Right from its mysterious founder(s) to its astounding growth this year, Bitcoin is intriguing, to say the least.One of the prime reasons as to why it is attracting more investors by [...]

2018-05-19T19:58:50+00:00January 3, 2018|Virtual Currency|0 Comments