Taxgirl’s own Taxes From A to Z® series — breaking down tax concepts and terms one letter at a time, in plain English.
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. O is for Ordinary and Necessary. To claim a deduction for business expenses, Section 162 of the Tax Code…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. N is for Nexus. Nexus is a legal term for a connection; it’s important in the tax world because,…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. M is for Mark-To-Market. One of the big buzz phrases from 2019 was “mark-to-market” taxation. That implies that it’s…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. L is for Legal Entity. A legal entity – for legal and tax purposes – has an existence separate…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. K is for Kiddie Tax. If you have an excellent memory, you might recall that I also used K…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. J Is For Jeopardy Assessment. Okay, I should come clean from the beginning: This post doesn’t involve Alex Trebek….
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. I Is For Inflation. Inflation is the measure of the rate at which the average price of goods and services…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. H is for Head of Household. I know what you’re thinking: Head of Household is an easy one. That’s…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. G is for GILTI. GILTI – which ranks up there as one of the best tax acronyms of all-time…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. E is for Extended Due Dates. We all know that the normal tax filing season deadline is April 15….