Federal Income Tax
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What are the tax implications of cryptocurrency transactions?
If your small business accepts, uses or invests in Bitcoin, Ethereum or other forms of cryptocurrency, accurate reporting and detailed records are critical for federal…
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Tax essentials for sole proprietors
Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain — and it gives the owner direct…
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Midyear tax planning: Review opportunities to save taxes this year (or next)
Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Let’s take a look at a…
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Will your Social Security benefits be taxable?
Last year, the new tax deduction for taxpayers 65 and older was sometimes referred to as “no tax on Social Security.” In actuality, this up-to-$6,000-per-individual…
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What’s the right entity type for your new business?
Start-ups must choose a legal entity for their business activities. The type of entity you select affects how the business is taxed and who may…
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Self-employed? Don’t overlook valuable tax deductions
If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements…
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