Virtual currency is an ongoing focus area for IRS Criminal Investigation Virtual currency is defined as a type of unregulated digital money that, in most cases, is controlled by its developers. There are basically two types of digital currency: virtual currency and cryptocurrency (study.com). Types of Digital Currency Virtual currency is typically only valid within its specific… Read More

To Be Alimony, A Payment Must Meet Certain Requirements According to the National Center for Health Statistics, 2,236,496* marriages occurred in 2017. During the same year, there were 787,251* divorces. When the data for divorces in 2018 is compiled, you might notice a slight uptick near the end of the year. The reason for the… Read More

There may be stressful tax consequences along with the emotional stress of divorce. The divorce rate in America has been on the decline since the 1970s. Philip M. Cohen, a sociologist at the University of Maryland, reports that this trend is likely due to both partners in a marriage being more educated and more socially… Read More

Business Credit Can Be Obtained With Little To No Established Credit Identity Part 1 Review Last week in Part 1, we talked about the importance of establishing business credit for your new business entity. We emphasized that having access to cash and credit is a business’s lifeline because business credit allows a company to borrow… Read More

Access To Cash And Credit Is A Business’s Lifeline Starting a new business can be exciting and stressful at the same time. Once you’ve decided what business you want to be in, the next step is figuring out how you are going to finance the startup. Access to cash and credit is a business’s lifeline.… Read More

Tips For Taxpayers Who Make Money From A Hobby Many people enjoy hobbies that are also a source of income. From painting and pottery to scrapbooking and soap making, these activities can be sources of both fun and finances. While strolling through an arts festival in the North Carolina High Country this past weekend, I… Read More

One greeting might say Happy Income Tax Day! Tomorrow, we celebrate our independence as a nation. We know everyone has fireworks, cookouts, and picnics on their minds. Not taxes. Everyone says, “Happy 4thof July.” But some might not think it is so “happy” when you consider other events in our nation’s history that occurred on… Read More

But is it enough? If you recently heard what sounded like a huge sigh, it was the sound of schoolteachers exhaling at the close of another school year. If you are an educator, summer is your time to recover and recharge in preparation for another school year. Some of you may be working summer jobs… Read More

Small Business Owners Could Benefit From Home Office Deductions The Small Business Administration reports that as of 2015 there were 30.2 million small businesses in the U.S. About 50 percent of those businesses are home-based businesses and most operate as sole proprietorships. A home-based business usually requires some type of office space or warehouse/storage space.… Read More

The IRS will issue many tax bills during June and July for those taxpayers who filed returns for 2018 but did not pay. If you are a taxpayer who has received a bill already or are anticipating a tax bill because you filed on time but did not pay in full, there are many options… Read More