Wash Sale Rules & GSUs

Wash Sale Rules & GSUs

As a Google employee, you’ve been granted Restricted Stock Units, commonly referred to at the company as Google Stock Units (or GSUs for short). This is an excellent benefit that adds to your overall compensation. But in a down market, there are some tax traps to be...
Tax Considerations for Investments in FTX

Tax Considerations for Investments in FTX

So you had an investment in the FTX cryptocurrency exchange? Now that we’ve watched the spectacular collapse and bankruptcy filing, you may be wondering what all this means for tax purposes. Can we turn this loss into something that will lower your tax bill? Spoiler...
The Avalanche of Form 1099-K

The Avalanche of Form 1099-K

*1/5/23 UPDATE: The IRS has announced a delay in implementation for the new $600 reporting threshold. While these rules won’t be in effect for the 2022 tax year, the IRS has indicated that they intend to make them effective for 2023.*  What is Form 1099-K and...
Tax Benefits of S Corporations

Tax Benefits of S Corporations

S Corps, also known as S corporations, is an IRS election made by corporations or LLCs (limited liability companies) that governs the way these entities are taxed by IRS (and often time State) tax authorities. They are named after Subchapter S of the Internal Revenue...
Tax Extensions – Why It’s A Good Thing!

Tax Extensions – Why It’s A Good Thing!

Tax Extensions Traditionally, federal (and many state) tax returns are due on April 15 or the first business day thereafter (if the 15th is on a weekend or holiday). However, the IRS will grant you an automatic extension to file your taxes every year, as long as you...

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