Red2Black CPA

IRS Solutions - IRS Announces a Shrinking Form 1040 for Next Year The IRS has a message for tax preparers. They recently shared a concern about a rise in identity theft attempts against employers.

1099-K From Your Digital Currency Exchange (Binance, bitFlyer, buthumb, etc.) | Home | CPA WIT Congrats! Your exchange sent you the 1099-K for all the transactions that you did last year. Since taxation might be overwhelming, I'll try below to explain (as...

Employee vs. Independent Contractor - Tips for Business Owners If you are a small business owner, whether you hire people as independent contractors or employees will impact the amount of taxes you withhold fro...

Early Year-End Tax Planning To Take Advantage Of Possible Tax Reform So, why do we think early tax planning is appropriate this year? Actually, with the prospect of major tax reform on the horizon, some strategies ca...

Check out this link A frequent question that arises when borrowing money is whether or not the interest will be tax deductible. That can be a complicated question, and unfortunately not all interest an individual pays is deductible. The rules for deducting interest vary, depending on whether the loan proceeds are used…

Check out this link Here are the November 2017 Individual Due Dates

Check out this link As Congress begins debating tax reform, you might be interested in an overview of the GOP’s proposed changes so you’ll have an understanding of what the proposals actually entail as you follow the debate and won’t have to rely on politically motivated analysis by the various media sources.

Check out this link Calculating customer lifetime value (CLV) gives you insight on how much to spend on new client acquisition. Learn more.

Check out this link Taxpayers whose top marginal tax bracket is lower than 25% enjoy a long-term capital gain tax rate of zero. Yes, you read correctly: the tax on any long-term capital gains for taxpayers within the 10% or 15% tax bracket is zero! This can provide you with the opportunity to sell some of your winner s...

Check out this link Remember those 1099s, W-2s, K-1s and other informational forms you receive each year reporting your interest, dividends, sales, wages, retirement income, IRA withdrawals, health insurance forms and other items having to do with your tax return? Well, the IRS also gets this information and feeds it i...

Check out this link When you convert a traditional IRA to a Roth IRA, you have to pay the tax on the conversion. However, individuals frequently do that this so they can take advantage of future tax-free accumulations. Distributions from Roth IRAs are generally tax free, including any earnings (accumulations) while the...

October Extension Due Date Rapidly Approaching If you could not complete your 2016 tax return by the normal April filing due date and are now on extension, that extension expires on October 16,...