How much you pay to the IRS is an important question on a lot of people’s minds when they retire. Many might expect their retirement income to be taxed in the same way as their employment pay. Others might have heard that there’s a specific age where you stop paying federal taxes on certain types of income, like Social Security benefits. If you take this quick quiz, you could be surprised about how your retirement income is actually taxed on a federal level. (more)

The U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair, Inc. (138 S. Ct. 2080, 2018) overturned years of precedent that had precluded states from imposing sales taxes on sellers who derived sales from a state but had no physical presence there (e.g., payroll or property). Today, the impact of Wayfair has reached far beyond sales tax, including income tax, net worth/franchise tax, gross receipts tax, and overall business compliance. Although the initial focus was to level the playing field for brick-and-mortar and e-commerce businesses regarding the responsibility to collect sales tax, the Wayfair case has marked a shift to a new and much more elaborate tax environment that every multistate and e-commerce business, along with their tax advisors, needs to understand and address with even greater care. (more)

Due to the current lapse in appropriations, IRS operations are limited. However, the underlying tax law remains in effect, and all taxpayers must continue to meet their tax obligations as normal. Tax refunds will generally not be paid during this period with one key exception. For taxpayers filing a Form 1040, refunds will continue to be paid on electronically filed, error-free tax returns that can be automatically processed and direct deposited. The IRS urges individual taxpayers to file electronically with direct deposit to avoid delays. (more)

As someone deeply immersed in the world of finance and digital assets, I’ve watched the cryptocurrency space evolve from a niche interest to a widely embraced investment frontier. But with that evolution comes a new level of complexity—especially when it comes to taxes. Over the years, I’ve worked with countless investors who remain uncertain about how their crypto activity fits into IRS guidelines. The truth is, staying compliant in this space requires understanding both the rules and the nuances. To start, it’s essential to know that not all digital assets are created equal. Cryptocurrency—like Bitcoin and Ethereum—is just one type. There are also tokenized real-world assets, NFTs... (more)