Tag - #jeffreyschneider

Crypto, Extensions and more – April 4, 2019

April 4, 2019 What You Need to Know About Cryptocurrency and Taxes The IRS determines cryptocurrencies to be property, like stocks or real estate, you’ll need to pay taxes if you’ve realized a capital gain and you can lower your tax bill if you’ve taken a loss. Do I need to pay taxes on Bitcoin? That gain can be taxed at different rates. If you held a virtual currency for over a year before selling or paying for something with it, you pay [...]

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Go Yankees!- October 5, 2018

Hello, my fellow taxpayers, I am writing this email on Thursday night, while I watch the Yankees play the A’s. Right now, they are winning 2-0, thanks to an Aaron Judge home run. By the time you read this, we will know if your friendly neighborhood Enrolled Agent will be depressed or ready for the Red Sox on Friday night. In any case, it really is just a game and it does not have any effect on me personally. What I’m [...]

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Tax Breaks with an IRA

Tax Breaks with an IRA What is an IRA? Individual Retirement Arrangements – aka IRAs – are accounts into which someone can deposit money to provide financial security when they retire. Why would a taxpayer consider having one? Well, here’s what especially peaks our interest: different IRA’s offer different tax breaks. How Do I Get One? A taxpayer can set up an IRA with a: Bank or other financial institution Life insurance company Mutual fund Stockbroker COMMON TERMS Traditional IRA: A traditional IRA is an individual retirement account that offers advantages to taxpayers. [...]

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Clean Up Your (Tax) Act: Small Business Edition

Organizing Your Tax Documents Having a small business and filing your taxes is a whole lot different from filing personal taxes – and honestly, it’s not a walk in the park, especially if you’ve never done it before. Because this isn’t something we have to do every day, it’s easy to overlook and wind up a little messy and unorganized. Life was much easier as a kid, but now we’re grown-ups with grown-up responsibilities. It’s time we clean up our [...]

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Clean Up Your (Tax) Act

Organizing Your Tax Documents Let’s be honest, sometimes we’re all a little messy and unorganized. Life was much easier as a kid, but now we’re grown-ups with grown-up responsibilities. It’s time we clean up our acts a bit. Waiting until the end of the year to collect our records for tax season is a pain in the a**. We often tend to forget when thinking about what’s important to DO because we’re thinking about what’s important to US. The holidays, family, a [...]

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