Tax news for investors and users of cryptocurrency

Tax news for investors and users of cryptocurrency

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice new form reporting requirements for digital assets – making this important tax news for cryptocurrency. Check the box Beginning with tax...
Reduce the impact of the 3.8% net investment income tax

Reduce the impact of the 3.8% net investment income tax

High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some ways you may be able to reduce its impact. Affected...
Benefits of a living trust for your estate

Benefits of a living trust for your estate

You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023 (effectively $25.84 million if you’re married). However, if you have significant assets, you should consider establishing a...
Being a gig worker comes with tax consequences

Being a gig worker comes with tax consequences

In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out restaurant meals, walk dogs and drive for ride-hailing services. But so-called gig work seems to be expanding. Today, some nurses have...