Several years ago, the IRS concluded that cryptocurrency, also called virtual or digital currency, is property not currency (Notice 2014-21). As such, you must report gain or loss on every transaction involving virtual currency. For Bitcoin and other …
If you work as an employee, you’re probably used to having income tax withheld from your paycheck. When you get a bonus, however, there may be more confusion about how it’s taxed and what will be left.
Here are the most important things t…
The rise of robo-advisors occurred shortly after the 2008 financial crisis. Positioned as a digital solution to the many overwhelming factors involved when trying to build an investment portfolio, it’s often marketed to Millennials – but it’s certainly…
I-R-A. Who knew 3 letters could be so daunting, yet yield so many benefits for our financial lives.
IRA stands for Individual Retirement Account. And if you’re like most people, you likely think it sounds like a fancy investment tool that is reserved f…
When bills and other short-term financial goals dominate your budget, retirement contributions tend to fall by the wayside. How can you possibly focus on retirement when you have all of these other expenses?
Plus, is it really necessary t…
One of the best financial moves you can make is to open a retirement plan and consistently contribute to it.
Getting an early start means decades of compound interest working in your favor as a result of your contributions, and, in many c…
Freelancing is incredibly rewarding, but it does come with its own set of financial challenges. Unlike a typical 9-5 job, you as a freelancer are responsible for billing and tracking all of your own income. And that tends to be rather irregular. You ar…
We all need to spice it up a bit now and again – but can be wary to do so with our money! The idea of risking your financial health or carefully built up nest egg can be nauseating.
So, how do you know if a financial risk is indeed worth …
A taxpayer took a distribution from her IRA of $524,981.89 to pay for the purchase of a home while she waited for the sale of her former home to close. When it did, she overnighted a check to the financial institution of her IRA for that same amount, …
On July 1, 2019, President Trump signed into law the Taxpayer First Act (P.L. 116-25), which is legislation focused on IRS practices and procedures. The IRS is supposed to enhance customer service to taxpayers by restructuring some activities and impr…
