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Tax Implications of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site…
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Do I Have to File a Tax Return?

This is a question many taxpayers ask during this time of year, and the question is far more complicated than people believe. To fully understand, we need to consider that there are times when individuals are REQUIRED to file a tax return, and…
Tax Scams
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Along with Tax Season Come the Scams; Don’t Be a Victim

One thing we can count on when tax season begins is the scammers coming out from under their rocks with schemes to try and trick you so they can steal your ID and file returns under your Social Security number (SSN). Or, they may even email…

Dodging Tax Penalties

Most taxpayers don’t intentionally incur tax penalties, but many who are penalized are simply not aware of the penalties or the impact they can have on their wallet. As tax season approaches, let’s look at some of the more commonly encountered…

Individual Taxpayer Identification Number (ITIN)

Find out the new procedures for getting an Individual Taxpayer Identification Number (ITIN). You can also go to www.irs.gov/itin