Cryptocurrency, Taxation, and Initial Coin Offerings

January 12, 2018 

Cryptocurrency, Taxation, and Initial Coin Offerings

The IRS classifies cryptocurrency as property, then they turn around and issue John Doe Summonses[2] to Coinbase, which was the same thing the IRS did to foreign bank accounts, seemingly treating coin as currency. However the taxation of coin works ...

 IRS Payroll Tax Withholding Chart – 2018

January 11, 2018 

IRS Payroll Tax Withholding Chart – 2018

The updated withholding information shows the new rates for employers to use during 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018.

 Tax Professionals Need to Talk about the Cannabis Industry

January 11, 2018 

Tax Professionals Need to Talk about the Cannabis Industry

Today the cannabis industry is a $6 billion industry. In ten years it is projected that cannabis will be a $1 trillion industry. In my home state of Florida, cannabis became legal last year, however the state, as it legislated the laws surrounding ...

 2018 Tax Reform Law – Index of Articles

January 9, 2018 

2018 Tax Reform Law – Index of Articles

The new tax reform law covers many aspects, from business taxation to individuals and deductions, which can make it challenging for taxpayers and tax professionals to keep up with the changes.

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January 9, 2018 

Estate Planning and the New 2018 Tax Law

The estate tax exemption and the gift tax work together in a sense that you have a unified lifetime credit for gifts, which match the estate tax exemption. The unified credit increases each year, along with the estate tax exemption. Each year there is ...

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January 9, 2018 

How the New Tax Law Affects Cryptocurrency

In 2014, the IRS classified cryptocurrency as property, and not currency. How property is taxed is that if you hold an asset for less than a year, and you sell it, you pay ordinary income tax at your ordinary tax rate. If you hold that asset for a year ..