Income Exclusions Archives - FREE Yourself from IRS Problems

Shamsey Oloko February 27, 2023 Capital Gains, Capital Losses, Digital Assets, Income, Income Exclusions, Income Tax, Income Tax Return 0

What Are Digital Assets?

In 2014, the IRS issued guidance explaining that virtual currency is treated as property for income tax purposes. It stated that tax principles applicable to transactions involving other types of property apply to virtual currency. In the last two years, the…

Shamsey Oloko December 1, 2022 Child Tax Credit, Deductions, Expenses Deductions, Income Exclusions, New York Property Tax, Qualified Education Expenses, State & Local Taxes, Tax Attorneys, Taxable Income 0

What Can I Do to Save Taxes Before the Year Ends?

As the end of the year approaches, the window is closing on measures that can save you money on your taxes. A seasoned tax professional can provide further guidance on the ways that you can save on your 2022 tax…

Shamsey Oloko November 9, 2021 Business Expense, Business Expenses, Business Tax Credits, Capital Gains, Capital Losses, Corporate Tax, Deductions, Expenses Deductions, Gains & Losses, Income, Income Exclusions, Income Tax, Income Tax Return, Ordinary and Necessary Expenses, Profits & Losses, Taxable Gain, Taxable Income, Uncategorized 0

How you can deduct business startup costs from your income taxes

How you can deduct business startup costs from your income taxes When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business.…