If you sold stock or cryptocurrency at a profit last year, you might be worried about a big capital gains tax bill. But there is a good chance the IRS will not tax that income at all. The federal long-term capital gains tax rates start at zero percent for up to...
Month: February 2022
Should you track cryptocurrency activity for tax purposes?
As the cryptocurrency market continues to evolve, the rules and regulations surrounding it also change on a regular basis. Right now, for example, it is wholly the individual’s responsibility to keep track of any potentially taxable activities so they can report it...
What to do if you’re worried about a tax audit
For many people, the concept of a tax audit is an intimidating and nebulous thing. They might only rely on anecdotal stories and the portrayal of an audit in popular movies and television shows for information. While there are significant penalties associated with a...
Should you be responsible for your spouse’s tax debt?
Whether you are working toward building a post-divorce future or have uncovered financial troubles your spouse had hidden from you, outstanding debt is never a welcome topic. Unfortunately, many individuals must resolve matters over which they lacked knowledge or...