Tag: income tax

Income tax ramifications of Bitcoin, Ethereum, Ripple Litecoin and other cryptocurrencies

Cryptocurrency is an electronic medium of exchange; Bitcoin, Ethereum, Ripple, and Litecoin have become some of the most widely circulated digital currencies, and the rapid growth of the market has invited both experienced HODLers and new speculators to invest in...

How to save taxes if you have residences in more than one state

Being domiciled in a state for tax purposes requires some planning, but can save a great deal of taxes. Each state has mechanisms to protect its residents from another state's income tax. Some planning and attention to the rules can...

2017 Federal Tax Key Facts & Figures

In partnership with PayChex, we're pleased to offer 2017 Federal Tax Key Facts and Figures our clients' reference.

FBAR deadline moves up to April 15

  • August 27, 2015
  • Maria Montie, CPA, MST, CVA, MAFF

This article appeared in Accounting Today. It’s the beginning of the end of the filing date disconnect between foreign bank account reports and income tax returns. On July 31, President Obama signed the Surface Transportation and Veterans Health Care Choice...

Lack of local ties results in denial of foreign earned income exclusion

  • April 16, 2015
  • Maria Montie, CPA, MST, CVA, MAFF

On January 20, a U.S. Tax Court found that Joel B. Evans, an oil drilling employee stationed in Russia, couldn’t claim the foreign earned income exclusion because he couldn’t show that his tax home was in Russia. The court ruled...