Category: Tax

Tax Benefits of Seasonal Family Employment

Article Highlights: Employing a ChildChild Payroll TaxesFUTA Tax for a ChildChild IRA ContributionsChild Tax-Free IncomeSpouses Working in the Same BusinessPartnershipSpousal Joint VentureSpouse EmployeeSeasonal times of the year bring a lot of extra work for many family-run businesses, which may require putting the kids to work and having a spouse help out over the busy time. […]

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R&D Credit Potentially Doubled by Inflation Reduction Act of 2022

Article Highlights:Inflation Reduction ActResearch Credit Payroll Tax OptionResearch CreditQualified ResearchQualified Small BusinessThe Inflation Reduction Act that President Biden signed into law back in August of 2022, has a lesser-known provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development tax credit they can claim from […]

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Understanding the Taxation of Cryptocurrency Transactions

Article Highlights:How Cryptocurrency is Treated for Tax PurposesCapital AssetWho Keeps Track of Cryptocurrency Ownership and TransactionsHow Many Cryptocurrencies Are There?What Is Cryptocurrency Mining?What Is a Cryptocurrency “Hard Fork”?Why Is Cryptocurrency Appealing to Some?How Is the Value of Cryptocurrency Determined?Are Cryptocurrencies Good Investments?Virtual Currency and 1031 ExchangesFirst In – First Out (FIFO)Foreign Currency TransactionsForeign Bank and […]

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