There are many different credentials among tax and financial professionals, and even for a professional office like ours, the variety of credentials can get confusing. The CPA license is the most common among tax...
Continue readingDeducting Disaster Losses
A question many Haywood County residents will be asking this tax season is whether a deduction is permissible for disaster losses. Today’s discussion will primarily be for individuals with losses to a primary residence...
Continue readingCryptocurrency Taxation After The Jarrett Case
Blog post by R. Joseph Ritter, Jr. CFP® EA A client recently made me aware of a federal court case involving cryptocurrency taxation. This post will review how the case may impact the future...
Continue readingFrom Passive to Non-Passive:
Real Estate Investments
Real estate by default is treated as a passive activity for income tax purposes. This means that passive income is included in Adjusted Gross Income, however, passive losses can only be offset by other...
Continue readingCan An S Corporation Shareholder Have an HRA?
This is a question I am receiving more frequently, and it seems fitting to address it in a blog post. There are also quite a few articles on this topic, but nearly all of...
Continue readingHow Is Cryptocurrency Taxed?
Cryptocurrency is gaining more widespread acceptance as an alternative form of payment and transfer of assets. The question that invariably arises is how will cryptocurrency be taxed? The tax landscape is most likely subject...
Continue readingCorrecting a TIAA RMD Rollover
A client came recently with a TIAA 403(b) and traditional IRA seeking help correcting a TIAA RMD rollover mistake. For a number of years, the client had been able to roll taxable distributions from...
Continue readingPremium Tax Credit Case: Part 1
R. Joseph Ritter Jr. CFP® EA discusses the ongoing saga of a premium tax credit case which involved mistakes by the Marketplace. #premiumtaxcredits #AffordableCareAct #marketplace #taxtips...
Continue readingCoaching for Startup Businesses
R. Joseph Ritter Jr. CFP® EA reviews the 2020 tax season after working with micro and small business startups. In this short coaching video, he discusses some basic tips for making your business venture...
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