by Ramdas | Feb 19, 2020 | Individuals Articles
As the use of virtual currency increases, the IRS has continued to issue guidelines for the tax treatment of virtual currency, along with clarification of what it is considered virtual currency. The IRS has stated “in general, the sale or exchange of...
by Ramdas | Dec 6, 2019 | Individuals Articles
As the TCJA removed exemptions in favor of an increased standard deduction, many taxpayers found themselves under withheld on their wages. To transition from the old tax system into the new one, the IRS recently released new withholding tables and updated Form W-4 for...
by Ramdas | Oct 25, 2019 | Individuals Articles
https://www.irs.gov/newsroom/tax-treatment-for-family-members-working-in-the-family-business One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and...
by Ramdas | Oct 22, 2019 | Financial Planning, Individuals Articles, Retiring, Tax Articles
https://www.cnbc.com/2019/10/20/what-you-need-to-know-about-required-minimum-distributions-this-year.html If you’re 70½ or older, or inherited a retirement account, you need to take your required minimum distribution by Dec. 31. Now is the time to get organized and...
by Ramdas | Sep 3, 2019 | Individuals Articles
With Dorian incoming, those of us in hurricane prone states are aware that hurricane season is now upon us. While you are already doing the best you can to protect yourself, these few tips can help you and your financial documents stay above water. Step One –...
by Ramdas | Aug 19, 2019 | Individuals Articles, Tax Articles
Read the full text below: In a redacted Private Letter Ruling the IRS has ruled that a portion of ancestry genetic testing (consisting of a DNA collection kit and health services) is medical care and, hence, that portion of the costs of the services and kit is...
