by Steven J Weil, PhD, EA, LCAM | Sep 5, 2023 | Blog, Business Tax, Personal Tax
IRS Fails to Follow the Rules According the Treasury Inspector General for Tax Administration, IRS employees have not always followed the rules when it came to directly contacting taxpayers (instead of their representatives like CPAs, enrolled agents and attorneys).... by Steven J Weil, PhD, EA, LCAM | Sep 3, 2023 | Blog
Older People Are Targeted It seems that as soon as I turned 65 I became a target for everyone with something to sell. My mail is filled with invitations for “free” dinners at local restaurants — all that is required is I disclose my net worth and investable... by Steven J Weil, PhD, EA, LCAM | Aug 19, 2023 | Blog, Personal Tax
When you invest in crypto and other digital currencies don’t be surprised by the complications this adds at tax time. These transactions can take many forms and each form can result in a unique tax reporting challenge. Things as simple as trading or buying one kind of... by Steven J Weil, PhD, EA, LCAM | Aug 17, 2023 | Blog, Investments, Personal Tax
Anyone born in 1929 or later needs 10 years of work (40 credits) to be eligible for retirement benefits. The maximum credits that can be earned per year is 4. Credits are earned based on wages as an employee or self-employment income. The amount of earning required... by Steven J Weil, PhD, EA, LCAM | Aug 15, 2023 | Blog, Business Tax, Personal Tax
What is the difference between a business and a hobby — and why is it important? Businesses are motivated by profit, while hobbies are about the joy of the activity not the desire to make a profit. The distinction is important because when you have a business... 