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The IRS recently issued new cryptocurrency guidance and is hot on your trail if you bought and sold cryptocurrency and didn’t report it on your tax return.   Here are the tax basics. You’ll treat cryptocurrency as property for tax purposes:   If you receive bitcoin in exchange...

Here’s an easy question: Do you need more 2019 tax deductions? If yes, continue on.   Next easy question: Do you need a replacement business vehicle?   If yes, you can simultaneously solve or mitigate both the first problem (needing more deductions) and the second problem (needing a replacement...

When you get busy with your business, it’s easy to forget about your retirement accounts and medical coverages and plans.   But year-end is approaching, and now’s the time to take action.   Here are the six strategies that you can implement before the end of the year. Five...

Tax reform changed the rules of the game when choosing your best tax structure.   In looking over the possibilities, we note that a properly structured spousal partnership could be your best choice.   Here are the tax benefits to you:   Your spouse’s income is free from self-employment tax. ...

The IRS gives you two possible strategies for turning otherwise personal mileage into business mileage:   Going to a temporary work location Establishing an office in the home as a principal office   The temporary work location strategy contains some real unknowns, such as:   What is a temporary...