LEGAL BUDDY NEWSLETTER: BUSINESS AND TAX TIPS AMG Counsel Attorneys & Advisors
How to Report Cryptocurrency On Your Taxes
Not sure how to report your cryptocurrency taxes?
You’re not alone. While cryptocurrency is still a relatively new space, it’s not always easy to find tax professionals with expertise on the subject.
To help investors like you, we’ve simplified cryptocurrency tax reporting into an easy-to-follow 5-step process. By the time you finish reading, you’ll understand how to report all of your crypto transactions on your tax return.
What Is an IRS 1099 Form? Who Gets One and How It Works
A 1099 tax form (or more than one) might land in your mailbox sometime in February. You need to hang on to it because it can have a big impact on your tax life.
IRS delays rule change for people who get paid on Venmo, Etsy, Airbnb and other apps
Anyone getting paid for their goods and services through apps like Venmo, PayPal or CashApp, or platforms like Etsy and Airbnb, just got a reprieve from the IRS.
Step-Up in Basis and Why It Matters in Estate Planning
Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it.
If you are considering engaging in estate planning or maybe inheriting assets, it is important to understand what the step-up in basis is and how it may affect you.