Introduction If you earn money from a side hustle, gig economy job, or freelance work, the IRS considers it taxable income. Many gig workers mistakenly assume that small side...
Introduction U.S. taxpayers are required to report all worldwide income, including foreign earnings, rental income, interest, and dividends. The IRS offers credits and exclusions to prevent double taxation, but...
Introduction If you received income reported on a Form 1099 and failed to include it on your tax return, the IRS will likely detect the omission and may issue...
Introduction Earned income includes wages, salaries, and self-employment earnings, but some income sources don’t fit neatly into those categories. These are classified as “Other Earned Income”, which must still...
Bitcoin, Ethereum, and Litecoin have revolutionized not only the way we think about money but also the way we handle taxes in the digital age. It’s time to get...
The exciting world of cryptocurrency is a dynamic space where investment opportunities intersect with intricate tax rules. For many, this can be a daunting crossroads to navigate. The main...
Cryptocurrency is reshaping the financial world, offering new opportunities for traders, investors, and enthusiasts alike. However, this new frontier has its challenges, particularly when it’s time to report crypto...
The Internal Revenue Service (IRS) has recently issued a draft version of Form 1099-DA, a crucial document designed to streamline the reporting of digital asset transactions. This early release...