Accepting crypto is an essential resource for any business considering accepting cryptocurrency as payment. With the rise of digital assets, it’s essential to understand their tax and accounting implications to fully take advantage of the opportunities they present without running afoul of the law or best business practices. Cryptocurrency, also known as virtual currency or […]

Digital asset transactions, such as those associated with cryptocurrencies, can be complex and intricate. The details of these transactions are often difficult to trace due to the decentralized nature of blockchain technology. As such, gathering all necessary documentation and transaction histories can be a daunting task. Furthermore, digital asset holders must also collect their 1099 […]

With the emergence of digital assets and cryptocurrencies, the Internal Revenue Service (IRS) has ensured that taxpayers accurately report their income, gains, and losses associated with these investments. Digital asset accounting, digital asset tax, cryptocurrency audit, and digital asset audit are essential elements of successful IRS enforcement activities. Thus it is crucial to understand the […]

Staying Compliant: Navigating Tax Rates for Digital Assets, Cryptocurrency, and NFTs Introduction With the growing popularity of digital assets, it is essential to understand their tax implications. This includes understanding the digital asset and cryptocurrency tax rate. Cryptocurrencies and other digital assets are subject to taxation with different rates depending on whether they are held […]

With the rapid growth of the cryptocurrency, NFTs and other digital assets, the need for reliable digital asset accounting systems is becoming increasingly evident. For businesses and individuals alike, it is essential to have a system that correctly tracks investments, taxes, profits, and losses. But designing such a system can be daunting for those who […]

The tax law favors business owners. As you continue to grow your business you continue to further reduce your taxes. This is only true if you have a properly designed and implemented tax plan. There are many who miss the opportunity to take advantage of the tax benefits the government has in place. These tax […]

One of the most important steps in maintaining a tax strategy is protecting your bottom-line. This means implementing and maintaining a system that provides proper documentation to ensure the accuracy of the information you provide your CPA for tax reporting. This will enable you to protect your tax savings and avoid unnecessary penalties and interest. […]

In the early stages for investors and businesses cash flow is often one of the more challenging aspects to manage as you are building your reputation and pipeline. As a result, investing in a properly designed and implemented tax plan often gets deferred to the future. The problem is that all too often this temporary […]

All too often I hear from prospective clients that their CPA doesn’t seem to have enough time for them. Or that they had to pull tax planning strategies out of them rather than being advised on their specific circumstances. If that is the case contact our team today. We are proactive when working with clients […]

When it comes to audit risk, there are two factors to consider: There’s the risk of being audited  If you are audited, there’s the risk that adjustments will be made resulting in increased taxes, plus penalties and interest Proper tax planning and tax return preparation can provide you with tremendous control over this factor. When […]

Taxes are usually the biggest or one of the biggest expenses for businesses. As a result, a properly designed and implemented tax plan can be one of your most profitable investments. You may often hear myself or other CPA’s speaking about tax planning. What does that mean? Tax planning is focused on organizing your business, […]

One of the most important steps in maintaining a tax strategy is maintaining an active dialogue with your CPA. Does your CPA have a structured process in place to ensure you are communicating properly throughout the entire year? It is not only imperative to design and implement a tax plan for your eCommerce business. You […]

The majority of the tax law is actually intended to reduce your taxes – not increase it. If you follow the rules, you should enjoy legal tax deductions and be well-prepared for an audit. These are the rules and legislation that we see our politicians arguing about on a daily basis. They focus on this […]

Building wealth is not about what you MAKE, but what you KEEP.The average taxpayer spends 2.5 hours a day working to pay their taxes. Stop and think about that when you go into the office on Monday. 2.5 HOURS. Time IS Money! Taxes don’t just steal your money, they steal your time. Make sure you […]

I know that sounds like a lot. But what’s funny? He only save $12,000 per year. That’s $1,000 per month. So how will he make 3.2M? Set up a time to speak directly with me here for a free strategy session to get your tax planning process in order. 👇I recorded a video going over […]