Cryptocurrency is a relatively new concept, and when dabbling in the world of Bitcoin most investors aren’t thinking about taxes. With the IRS continuing to refine the compliance laws around cryptocurrency though, it is important to understand the rules of crypto tax.| Cerebral Tax Advisors
In this guide, we explain what tax-loss harvesting is, how it works, and how physicians and other high-income investors can use it effectively. We also outline some practical steps for implementing the strategy and highlight common pitfalls to avoid so you have a reliable framework for reducing your tax liability without compromising your long-term investment goals.| Cerebral Tax Advisors
We offer the most effective tax strategies for high income earners. We guarantee a 100% return on your investment.| Cerebral Tax Advisors
SEP-IRAs and 401(k)s both offer tax advantages and higher contribution limits than your standard Individual Retirement Account (IRA). However, they work differently, so they benefit different types of companies, depending on whether you have employees and how much you want to contribute.| Cerebral Tax Advisors
Your tax basis in an S-Corporation is your investment in the company for tax purposes. Unlike a C corporation, an S corporation is a pass-through entity, meaning that its income, losses, and other tax items flow through to its shareholders. Your basis determines how much loss you’re allowed to deduct on your personal tax return and whether distributions from the company are taxable.| Cerebral Tax Advisors
The short-term rental tax loophole is a popular tax break amongst rental property owners. This tax code provision might allow you to classify your rental income a little differently, allowing you to offset a portion of your rental income with other active income sources.| Cerebral Tax Advisors
The short-term rental tax loophole is a popular tax break amongst rental property owners. This tax code provision might allow you to classify your rental income a little differently, allowing you to offset a portion of your rental income with other active income sources.| Cerebral Tax Advisors
Simply taking virtual CE from a vacation destination doesn’t automatically qualify the trip as a business expense. The IRS requires a valid reason for traveling to that specific location. For example, if you could have attended the virtual CE from home, it’s harder to justify deducting travel expenses.| Cerebral Tax Advisors
An accountable plan is a reimbursement arrangement that allows employees to be reimbursed for out-of-pocket business expenses without those reimbursements being counted as taxable income.| Cerebral Tax Advisors
Learn how Cerebral Tax Advisors work. Want to work with us and speak to a tax advisor? Follow 5 step process to make sure we are a good fit.| Cerebral Tax Advisors
Read an interview with our client - David, who reached out to Cerebral for help and tax planning, and was able to walk away with a long-term financial plan.| Cerebral Tax Advisors