Month: October 2020
Tax regulations

Tax regulations to consider when borrowing or lending by friends or relatives

[ad_1] When experiencing financial difficulties, it is not uncommon for people to seek help from friends and relatives. Right now, due to the covid crisis, many people are facing financial stress due to job loss, reduced wages or business closures. However, borrowing or lending by a relative or friend is not a taxable transaction from […]
Tax code

6 ways the Trump administration is rigging an already unfair tax code

The New York Times recently reported that President Donald Trump has paid no income tax for most of the past two decades and only $750 in 2016 and 2017, showing how a wealthy and unscrupulous business owner can take advantage of a code fiscal violation and weak tax enforcement. Since taking office, President Trump’s administration […]
Tax deductions

10 overlooked tax deductions on vacation rentals

Short-term rental marketplaces such as Airbnb, HomeAway, and VRBO have made it easy for landlords and property managers to market their rental property. Experienced operators know that to be successful, they must treat their short-term rental like a business. Fortunately, the IRS agrees, so if your clients who own rental properties are already operating as […]
Tax regulations

OECD urges regulators to establish uniform cryptocurrency tax regulations

[ad_1] In this photo, the Internal Revenue Service (IRS … SOPA Images / LightRocket via Getty Images Regulators around the world are struggling to put in place an effective tax policy for virtual currency transactions. Recently, the IRS was scrutinized by the government watchdog, the Inspector General of the Treasury for Tax Administration (TIGTA), on […]