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If you are a business owner in California that has employees then you are probably familiar with the payroll tax. Usually taken out automatically by an employer, the payroll tax is a series of taxes that go to various state and federal agencies and programs. While it may seem like a pain, it is a […]

To protect yourself during an IRS audit, there are some things you need to know. By not educating yourself and failing to prepare for an IRS audit, you leave yourself vulnerable to making a mistake, and when it comes to IRS audits, mistakes are never a good thing. Here is what you need to know […]

Sales tax audits are an unfortunate part of being a business owner in California that you can face for any number of reasons. Sometimes that reason is simply because you were the random taxpayer chosen to be audited or because you were flagged in their system. Either way, here are some helpful tips to keep […]

IRS audit is no one’s dream. There are, however, things you can do to prepare, which will make them far less painful and much easier for you. Here are some tips for how to prepare for an IRS audit. About IRS Audits To know how to prepare for an IRS audit, you must first understand […]

So you are about to go through a sales tax audit? Do not panic. Sales tax audits are not something that should cause you a great amount of fear unless you knowingly did something wrong. While sales tax audits are something that can be randomly triggered, it is always best to take the utmost precaution […]

Whether it is the truth or an illusion, the IRS is not typically thought to pay many face-to-face visits to higher income individuals for failing to file or pay their taxes. This, however, is changing as the Internal Revenue Service has recently accounted that this year, they will be making more house calls to individuals […]

Being a business owner in California means having to deal with sales tax, and quite possibly a sales tax audit.  Sales tax is the tax collected on goods that are sold in a business for the taxing agencies. In California, the basic sales tax is 7.25 percent. Having to deal with sales tax means that […]

Are cryptocurrency losses tax deductible? Talk about a timely question. Between June and November 2019, bitcoin prices dropped by nearly half. With a market share nearly three quarters of the entire market capitalization of all circulating cryptocurrencies, that’s dropped the price of altcoins in similar proportion. Even crypto investors, traders, and businesses that deal in […]

Crypto has been around for a decade, but many new adopters are still uncertain about properly filing and paying taxes on crypto earned as income. If you work for a business that pays wages or bonuses in crypto, there’s a good chance it’s a crypto business, and you’re an early adopter who’s been paying close […]

In 2009 Satoshi Nakamoto, the pseudonymous inventor of bitcoin “mined” the first block on the bitcoin blockchain and created a disruptive new tech industry. By August 2018 less than ten years later, over 1,600 new cryptocurrencies had been created. This complicated regulatory uncertainty around crypto by raising the question: Is there a crypto to crypto […]