To get my complete, FREE articlewith all the details… Using PayPal, and similar payment services, can be a great way to pay bills and shop online. However, as the IRS discovered, when taxpayers use third-party settlement organizations (TPSOs) like PayPal, they can use a loophole in the law that makes it easy to avoid declaring income. Here’s how they did it. Under … [Read more...]
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The IRS Focuses on Cryptocurrency. Are You Ready?
To get my complete, FREE articlewith all the details… NOTE: In this email, we’re defining “cryptocurrency” as digital money that can be accepted as payment by willing partners. Think Bitcoin and other “coins.” Be warned! The IRS is now taking a close look at your cryptocurrency activities. That’s right. The IRS is now strictly enforcing compliance with the … [Read more...]
Big Government Help for the Self-Employed
To get our complete, FREE articlewith all the details… If you’re self-employed, you should know this important fact… Legislators have not forgotten you during this difficult period. In fact, Congress has taken unprecedented steps to help the self-employed who are cash-strapped during the COVID-19 pandemic. What big cash benefits might you be entitled to? Do … [Read more...]
Helicopter View of Meals and Entertainment (2021-2022)
“What can you deduct: 0, 50%, or 100%? To get our complete, FREE articlewith all the details… COVID-19 is going away, perhaps by early summer. It’s time to start thinking business meals and partying with your employees. The chart in this article gives you a helicopter view of the latest business meal and entertainment rules. CLICK HERE to see the chart. … [Read more...]
IRS Defines Real Property for Section 1031 Like-Kind Exchanges
To get our complete, FREE articlewith all the details… To paraphrase the Bible… “The IRS giveth and the IRS taketh away.” What the Tax Cuts and Jobs Act (TCJA) took away was Section 1031 tax-free like-kind exchanges for personal property. What was given, was a change in the law that limits (so-called) exchanges to real property only. So what does Section 1031 … [Read more...]