Category: Tax

The Tax Implications of NFTs: What You Need to Know

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

Investing NFT Tax

The Tax Implications of NFTs: What You Need to Know

As the popularity of non-fungible tokens (NFTs) grows, so do questions about their tax implications. As a result, many investors and creators in the NFT space need help to report their earnings and pay taxes on these unique digital assets....

February 24, 2023

Child Tax Credit for 2023: A Parents & Guardian Guide

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

Child Tax Credit for 2023: A Parents & Guardian Guide

As a parent, you want to provide the best possible life for your children. However, raising children can be expensive, and knowing what financial help is available is essential. One option for parents in the United States is Child Tax...

February 20, 2023

1099 Form Process: How to Avoid Late Penalties

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

1099 Form Process: How to Avoid Late Penalties

As a business owner, staying on top of all tax-related deadlines, including those related to 1099 forms, is crucial. A 1099 form, also known as “Information Returns,” are used to report non-employee compensation, such as payments to independent contractors or...

January 25, 2023

How an IRS Audit Works: Everything You Need to Know

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

Accounting Audit Small Business Tax

How an IRS Audit Works: Everything You Need to Know

No one ever wants to hear, “the IRS is auditing you.” But if you do receive that dreaded letter in the mail, don’t panic. An IRS audit can be intimidating, but knowing how an IRS audit works can help make...

NFTs and Taxes: What You Need to Know

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

NFTs and Taxes: What You Need to Know

Every day, more people are investing in digital assets than ever before. One of the most popular cryptocurrencies is NFT (non-fungible tokens). These tokens are unique, and each one has its value. Because NFTs are becoming more popular, creators and...

February 20, 2022

Changing Cash to Accrual Accounting

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

Accounting Small Business Tax

Changing Cash to Accrual Accounting

Changing from cash basis to accrual accounting can seem daunting, but it’s a necessary step for many businesses. This post will discuss what you need to know before making the switch. We’ll cover everything from the benefits of accrual accounting...

January 30, 2022

What is the Difference Between Cash and Accrual Accounting?

<img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' data-srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' height='40' width='40' decoding='async' data-src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' class='avatar avatar-40 photo pix_blog_md_avatar shadow lazyload' src='data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==' /><noscript><img alt='Jason Joel' src='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=40&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/96717d12bd244385c075893ae99eccb7?s=80&d=mm&r=g 2x' class='avatar avatar-40 photo pix_blog_md_avatar shadow' height='40' width='40' decoding='async'/>

Accounting Bookkeeping Small Business Tax

What is the Difference Between Cash and Accrual Accounting?

There are two methods in accounting: cash basis and accrual. Cash basis accounting is more straightforward, while accrual accounting is more complex but provides a more accurate picture of your company’s financial health. This post will explain the two types...

January 16, 2022