The IRS announced that bitcoin and other virtual currency will be taxed as property, not currency. This settles an important tax question.
As I noted in my post about the amnesty offered by the IRS for those with hidden overseas assets, the flexibility of web work can encourage cross-border collaborations and contracts and allow location-independent workers to live abroad for a period of time. Taxes, predictably, get complicated.
You’re employee No. 20 at a Valley startup. If you’re a great developer, you’ll probably get a four-year option package worth about 0.2 percent of the company. Two years after you join, the company sells for $30 million. You’re rich! Right?
For plugged-in workers, the web offers the ability to work from anywhere – including other countries. For web workers who’ve worked while abroad and maybe weren’t entirely honest with Uncle Sam about the money they made there, the IRS is currently offering an amnesty.
It’s official: Long-awaited clean-energy manufacturing tax credits are really happening, finally. The U.S. Department of the Treasury and the U.S. Department of Energy on Thursday announced a program awarding $2.3 billion in tax credits for clean-energy equipment manufacturers.
While there are already some tax credits for renewable-energy generation projects, these new credits are focused on the manufacturing equipment that will be used to make gear for such projects and are intended to make the U.S. a manufacturing hub for clean power equipment. That could mean more jobs — always a good thing in the face of hundreds of thousands of layoffs per month, and an unemployment rate near 9.4 percent. That is, as long as these manufacturers also prove sustainable after the credits.
Read More about Ready, Set, Apply: Clean Power Equipment Manufacturers Tax Credits Now Available
Not understanding bookkeeping, taxes and other administrative tasks can be very off-putting for people looking to start their own businesses. But in reality, they’re not that hard to do if you’re organized and get a little professional help.
Now, I’m not a CPA and the closest I’ve come to taking accounting is being a professor’s assistant in an online graduate program course. However, I must do something right as I’ve been on my own for over four years and my business tax payments remain on target. So here I’m going to share what I do, as it might work for you or give you ideas on how you can keep on top of your business finances.
This year there are a plethora of options for getting your 2007 U.S. tax returns in on time and without spending all of your refund on software and filing fees. Get an overview of what’s out there and don’t be shy about letting us know what worked for you.