The coronavirus (COVID-19) outbreak has hit the U.S. hardest of all countries, and caused the nation’s economy to take a significant downturn. With the requirements of social distancing extending for most states, the U.S. government has offered a Paycheck Protection Program to help small businesses
The Tax Deadline Has Been Pushed From April 15 To July 15 Due To Coronavirus
With all the uncertainty in the economy right now, many people are struggling to meet their day to day needs with 78% of people in the US living paycheck to paycheck. Different organizations have had to change the way they do things right now so we can all stay safe. Of course this pandemic has
Ready for Tax Day 2020?
UPDATE: 6/15/2020 - The tax deadline has been postponed to July 15, 2020 due to the coronavirus pandemic. As 2019 draws to a close, many are preparing (read: dreading) to file their taxes come April 2020. Taxes are due April 15, 2020. Missing the deadline can open the door to unwanted
Seattle Searching for Tax Cuts & Hikes
The city of Seattle is looking for ways that it can use taxes to benefit everyone in the city limits, and they have brought forth some proposals that will help the city build a more efficient government. Plus, the city wants to be sure that they can serve the whole population by making these changes
How The Shutdown Affects Your Tax Filing
We have all been affected by the government shutdown in one way or another. One thing you may be worrying about is how the shutdown (of a record 34 days) affects your taxes this year. Fortunately, income-tax season opened on January 28. Because of the shutdown there are some things that you need to
Bitcoin, Taxes & Statehood
In our earlier post about the taxation of bitcoin, we pointed out the fact that bitcoin taxation brings up a number of potentially problematic, complicating issues. For one, we mentioned that there could be issues with bitcoin’s basic classification as “investment property” given that it is a
The Debate to Preserve or Eliminate Section 1031
As lawmakers of the federal government struggle to deal with our ever-increasing national debt, Section 1031 of the Internal Revenue Code has come under scrutiny and may face extinction. Now that Republicans control both sides of the Congress (and the White House), Section 1031 could be seriously
The (Relatively) Uncharted Territory of Bitcoin Taxation
Though still largely unfamiliar to the general public, the cryptocurrency known as “bitcoin” has received more and more attention in the last several years. This is due in part to its impressive rise in market value -- as of today, bitcoin’s market value fluctuates in the low $4,300 range, but only