Entries by Tax Attorney

Why Taxpayers Involved In Offshore Accounts, Crypto-Currency Or Cannabis Should Be Filing An Extension For Their 2017 Income Tax Returns

How California Cannabis Retailers Compute And Pay Taxes For Cannabis Acquired Before January 1, 2018 That Is Being Sold Now

New cannabis taxes have been in effect in California starting January 1, 2018. Beginning January 1, 2018, licensed distributors who supply you with cannabis or cannabis products are required to calculate and collect the 15% cannabis excise tax from you. When you sell those items at retail you are required to collect the cannabis excise […]

What You Need To Know To Deduct Charitable Contributions On Your 2017 Income Tax Return

The more itemized deductions you can rack up on you individual income tax return, the smaller amount of taxable income you will have which now puts more money in your pocket. Taxpayers who gave money or goods to a charity should be able to claim charitable contributions which get included as an itemized deduction on […]

Beware If You Have Unreported Crypto Currency Transactions Through Coinbase, You Should Be Receiving Contact By The IRS

As of March 16, 2018, the IRS is getting information that many people thought would stay secret forever. If you are an American client of Coinbase and engaged in Bitcoin transactions during 2017, you better hold off on completing your 2017 income tax return until you first check your email as Coinbase has a surprise […]

Top Eight Myths About Crypto-Currency.

It is believed that as of September 2017 at least 80% of all Americans have heard of bitcoin. Unfortunately, a lot of myths have been circulating on bitcoin and other crypto-currencies so here are the top eight myths to consider. Crypto-currency Is A New Phenomenon – FALSE. Bitcoin which is the world’s most popular crypto-currency […]