727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Reporting Virtual Currency Transactions

Reporting Virtual Currency Transactions

With the price of Bitcoin hitting record highs in 2017, many Bitcoin holders cashed out not realizing the impact it could have on their tax bill. Many people, for example, did not understand that it was a reportable transaction and found themselves with a hefty tax...
Reporting Virtual Currency Transactions

Time for a Paycheck Checkup

Withholding issues can be complicated, and with the passage of the recent tax reform legislation–most of which takes effect starting in 2018–, it’s important to make sure the right amount of tax is withheld for your personal tax situation. As a first...
Reporting Virtual Currency Transactions

Five Tax Tips for Older Americans

Everyone wants to save money on their taxes, and older Americans are no exception. If you’re age 50 or older, here are five tax tips that could help you do just that. 1. Standard Deduction for Seniors. If you and/or your spouse are 65 years old or older and you...
Reporting Virtual Currency Transactions

Canceled Debt may be Taxable

If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2017. Here are seven things you should know about debt cancellation:...

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