A Guide To Cryptocurrency Taxes

Cryptocurrency Tax Consulting | Millan & Co. P.C. | Certified Public Accountants   Cryptocurrency Tax Guide Summary   Cryptocurrency Taxes 101 Taxable and non-taxable crypto events  Calculating cryptocurrency tax Accounting methods for cryptocurrency Capital Gains and Cost Basis FIFO, LIFO … [Read more...]

PayPal, Venmo And Most Payment Apps To Report Payments of $600 Or More To IRS In 2022

Payment processing apps such as PayPal and Venmo will now be required to report transactions of $600 or more to the IRS in 2022.   Article Summary   Beginning Jan. 1, 2022, if you receive $600 or more payments for goods and services through a third-party payment network, such as PayPal, Venmo or … [Read more...]

Section 179 Tax Credit Calculator (and Deadline)

The Section 179 Credit can save SMBs a lot of money on equipment costs (the deduction is up to a robust $1,050,000). Passenger vehicles exceeding 6,000+ pounds GVW (gross vehicle weight) will usually qualify, but they are typically limited to a $25,000 deduction.   Article Summary Section … [Read more...]

The Recovery Rebate Credit – Am I Eligible?

Taxpayers who did not receive the full amount to which they were entitled can claim it as a refundable credit when filing 2020 taxes in 2021   Article Summary -This article helps define what the Recovery Rebate Credit is, which taxpayers are eligible for the rebate and how to properly claim … [Read more...]

An Introduction to Financial Statement Analysis

“If you can read a nutrition label or a baseball box score, you can learn to read basic financial statements. If you can follow a recipe or apply for a loan, you can learn basic accounting. The basics aren’t difficult and they aren’t rocket science.” – U.S. Securities and Exchange Commission What … [Read more...]