by DhallaCPA | Jul 15, 2023 | Tax Tips
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...
by DhallaCPA | Jun 25, 2023 | Tax Tips
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially for married couples with both spouses paying them. But there may be an advantage: you...
by DhallaCPA | Jun 12, 2023 | Tax Tips
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...
by DhallaCPA | Jun 5, 2023 | Tax Tips
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...
by DhallaCPA | May 22, 2023 | Tax Tips
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...
by DhallaCPA | Apr 12, 2023 | Tax Tips
If you’re an art collector, you may wonder about the tax breaks available for donating artwork to charity. Several different tax rules may come into play in connection with such contributions. Basic rules Your deduction for a charitable contribution of art is subject...
