Investment clubs are an opportunity to learn about investments, and make money, treat a club as you would any other business relationship.
Turning your hobby into a business can provide tax benefits if you do it right. But it can create a big tax headache if you do it wrong.
While most of us are never audited, when it happens it can feel a lot like a lamb thrown in the room with a lion.
Wouldn’t it be nice to have a source of nontaxable income? Listed here are several income items that the IRS does not tax.
A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and CashApp.
The IRS is reporting that it will be comparing filed 1099-Ks against income reported on business tax returns