New Cryptocurrency Tax Tips

Posted on May 7, 2021May 13, 2021 by Liz Prehn Posted in Cryptocurrency Tax Assistance

Previous Posts in this Series Part I: IRS Launches New Cryptocurrency Tax Evasion Detection Program Since the introduction of Bitcoin in 2009, new cryptocurrencies have opened vast new avenues to both personal and business investment. Virtual currencies such as LiteCoin, Cardano, and Polkadot have dramatically changed the way the world...

IRS Launches New Cryptocurrency Tax Evasion Detection Program

Posted on May 4, 2021May 27, 2021 by Liz Prehn Posted in Cryptocurrency Tax Assistance

Other Posts in this Series Part II: New Cryptocurrency Tax Tips In March of this year, the IRS’s Office of Fraud Enforcement announced the kickoff of “Operation Hidden Treasure”—a program staffed by a dedicated team of IRS investigators trained in cryptocurrency and virtual currency tracking and focused on identifying taxpayers...

Are IRS Collection Activities Affected In Any Way By Politics Of Treasury Department Orders?

Posted on April 20, 2021April 20, 2021 by Liz Prehn Posted in Tax: Audits, Litigation & Collection

The IRS does not ask DOJ to file suits against all delinquent taxpayers and DOJ does not always agree to do so when asked. Usually, there is a confluence of bad behavior plus a collection statute of limitations (10-years, including additional time for suspensions) about to run. The complaint in...

What Is Self Employment Tax?

Posted on April 13, 2021April 19, 2021 by Liz Prehn Posted in Tax Planning & Compliance

The advent of the COVID-19 pandemic has resulted in some dramatic changes to the world’s workforce. One of the most profound effects has been the shift from an on-site to a work-from-home economy. One result of this shift is an increase in the number of workers operating as independent contractors....

7 Steps To Building Your Business Credit

Posted on April 6, 2021April 13, 2021 by Liz Prehn Posted in Tax: Audits, Litigation & Collection

These can be challenging times to start and grow a new business. Opportunities are plentiful, but the economic landscape is rocky and often unpredictable. So how can you build business credit and grow your business, even in a rapidly changing economy? Here are some tips to help you get started....

Put The Tax Code to Work for Your Business – 15 Key Items to Review Yearly

Posted on March 26, 2021April 7, 2021 by Liz Prehn Posted in Tax Planning & Compliance

We all know that regular vehicle maintenance is one of the best ways to protect our investment in our cars; performing a tune-up will extend the life of your vehicle. But what about an annual checkup of your tax liabilities? Something more than merely plugging in the numbers on your...

Important Tax-filing Deadlines in April 2021

Posted on March 11, 2021June 2, 2021 by Liz Prehn Posted in Tax Planning & Compliance

With 2021 well underway, tax day is quickly approaching. Tax time can be stressful and confusing, but it doesn’t have to be. Here are some quick facts and key dates to keep in mind so you can make informed decisions about filing your return and avoid missing the tax filing...

How Much Do Small Businesses Pay in Taxes

Posted on March 17, 2021March 19, 2021 by Liz Prehn Posted in Tax Planning & Compliance

If you own or operate a small business, you know it takes hard work and attention to detail to make your company successful. But, typically, how much do small businesses pay in taxes each year? And how can you best plan ahead so you’re not caught off guard by a...

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