Do you have questions about reporting your digital assets? Or if you even need to report them? Martha Waggoner for The Tax Advisor reviews and breaks down the latest instructions from the IRS in her article, Taxpayers reminded about digital asset question and income reporting. She begins by defining digital assets and then offers clear, point by point tips to consider when completing your tax forms.
Tag: Schedule C
Home Office Deductions
As we enter tax season, it’s time to examine a variety of deductions you may be eligible to take. Home office deductions are a simple way to recoup money when using your home as an office space. Those who are self-employed or part of an LLC have one form to complete this process, but S-Corp brings a new challenge. Thank you to wilsonrogers.net for this detailed description of how to legally claim this important deduction.