Cryptocurrency, US National Debt & IRS Scam Calls 01.29.19
Join us this week as we discuss how the IRS is treating Cryptocurrency, Why the US actually has over $200 Trillion in national debt and how to know if a phone call from the IRS is real or a scam. For questions regarding these or other tax issues you may have please contact me at 510-797-8661
Sec179 Businessequipment
Updated: 11/12/10 Most new business equipment can be either depreciated over its useful life or expensed immediately under Internal Revenue Code Section 179. The maximum deduction is based on the following schedule for the date in which the tax year begins. Each 1040, whether Single or Joint, is limited to one maximum. 179 expenses passed…
Sec1244 Small Business Stock Sales
Sec1244 Small Business Stock Sales Section 1244 of the Internal Revenue Code, the small business stock provision, was enacted to allow shareholders of domestic small business corporations to deduct as ordinary losses, losses sustained when they dispose of their small business stock. In order to receive this beneficial treatment, the Code prescribes specific requirements for:…
Section 1202: Small Business Stock Gain Exclusion
What is Section 1202 Stock? In December 2015, the Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”) was passed by Congress and signed into law by President Barack Obama. The PATH Act made several tax breaks permanent, including the Small Business Stock Gains Exclusion (Section 1202). The new law makes permanent the exclusion…
Section 1202: Small Business Stock Gain Exclusion
Section 1202: Small Business Stock Gain Exclusion Updated: 01/16/2016 In December 2015, the Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”) was passed by Congress and signed into law by President Barack Obama. The PATH Act made several tax breaks permanent, including the Small Business Stock Gains Exclusion (Section 1202). The new law…