IRS Letter About Advanced Child Tax Credits

The IRS announced that it will be sending out letters to everyone who received advance Child Tax Credit payments. Please be on the lookout for this letter and DO NOT throw it away. IRS Letter 6419 will go out January 19, 2022.  It will show the total amount of advance Child Tax Credit payments that […]

What the Heck Is a Wash Sale?

Investing has become much more accessible since Robinhood became a thing.  But do you know what a wash sale is and how it will impact your tax return? You have a stock, it dips, and you sell it thinking “Hey, I can use this loss on my tax return AND buy XYZ back at a […]

Are Gains on Cryptocurrency Taxable?

The short answer to this question is: of course!  As cryptocurrency has become a more popular investment vehicle among younger investors, this is a good question and one that is getting more attention from the IRS. Buying and selling crypto, just like buying and selling a share of Tesla, is taxed as a capital gain.  […]