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Cryptocurrency – Do You Have a Taxable Event?

  • May 17th, 2021

2021 – 05/17 by Andrew Turpin, CPA For casual observers, cryptocurrencies may seem like a new financial phenomenon, but the leading crypto, Bitcoin, actually launched in 2009. More than four thousand others have followed in the years since. The big changes recently are the wider availability of some cryptocurrencies on popular trading platforms like Robinhood,…

An S corporation could cut your self-employment tax

  • May 17th, 2021

2021 – 05/17 If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. Fundamentals of self-employment tax The self-employment tax is…

Qualified Opportunity Zones

  • May 17th, 2021

2021 – 05/17 With investment in national infrastructure in the headlines, investors may be wondering about the status of the current qualified Opportunity Zones (QOZ). A QOZ is a distressed area targeted by the federal government for economic development and job creation, in exchange for valuable tax incentives to investors. Established by the 2017 Tax…

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