- Running a Trading Business – and What it Means for Your Taxes
- There are specific criteria for being considered a “trader” or qualifying as a “trading business.” Here’s how operating a trading business affects your taxes.
- The US Loses Out On $1 Trillion a Year Due to Tax Cheats, IRS Estimates
- IRS Commissioner Chuck Rettig has announced the US may be losing up to $1 trillion a year in evaded taxes. Among the tax evasion techniques are cryptocurrency, illegal income, underreporting from pass-through businesses, and offshore tax evasion.
- Video tip: Made a Mistake in Your Tax Return?
- Watch this quick video for helpful tips about what to do when you make a mistake in your tax return.
- Entrepreneur Success Stories: Zapier
- Software company Zapier has grown to a valuation of over $5 billion in just 10 years. The founders persisted through challenging times and took very little venture capital funding as they grew. Here’s their success story.
- Don't Overlook Foreign Account Reporting Requirements
- Some of the largest penalties for failing to file a report with the Government are associated with reporting dealings with foreign financial institutions. U.S. citizens and residents with a financial interest in or signature or other authority over any foreign financial account need to report that relationship by filing FinCEN Form 114 if the aggregate value of the accounts exceeds $10,000 at any time during the year. Although the official designation of the report is FinCEN 114, it is commonly referred to as the FBAR (foreign bank account report).
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