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How To Navigate Celsius & FTX Losses

How To Navigate Celsius & FTX Tax Losses

The recent bankruptcy of several cryptocurrency platforms, including Celsius and FTX, has raised questions about how the IRS tax code applies to these unique situations.

The tax code generally permits claiming deductions or losses once the loss is complete and known. However, for these bankruptcy proceedings, you must still satisfy both criteria.

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IRS Form 1099-K

Reporting Payment Card and Network Transactions on Form 1099-K

If you work for yourself and get paid through online payment services like PayPal or Square, you might receive a form called a 1099-K. This form shows how much money you received through that service during the previous year.

Even though it might seem like just another boring tax form, it’s actually really important to understand what it is and how to use it for your taxes.

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OnlyFans Taxes Explained

OnlyFans Taxes Explained

If you’re a content creator on OnlyFans, you may seek ways to earn a quick buck. But before making money on the platform, you must understand OnlyFans taxes. The IRS has recently started contacting OnlyFans content creators regarding potential criminal investigations.

In this blog post, we’ll dive into the world of OnlyFans’ taxes implications to help you understand what you need to know to stay on the right side of the law.

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Understanding Uber and Lyft Taxes

Understanding Uber and Lyft Taxes

Are you thinking of becoming a rideshare driver for Uber or Lyft? Great idea! Not only is it a flexible way to earn extra cash, but it’s also a fun way to meet new people and explore your city. However, before you hit the road, it’s important to understand the Uber and Lyft tax implications of being a self-employed driver. Don’t let taxes put a damper on your earning potential.

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FBAR Penalties: What Happens If You Dont File the FBAR?

FBAR Penalties: What Happens If You Don’t File the FBAR?

The FBAR, or Foreign Bank Account Report, is a form that must be filed annually by individuals who have foreign financial accounts with a total combined balance of $10,000 or more. Failure to file can result in significant FBAR penalties for individuals to understand their obligations and how to avoid penalties.

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Offshore Trust

Offshore Trust

Have you ever wondered what would happen to your wealth if you suddenly fell ill and could no longer work, or if the economy took a downturn and you lost most of your savings?

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