There are loads of luxury loopholes this tax season — including write-offs for SUVs, fancy meals, and more. Costing more than $160,000, G-Wagons are hardly what most people would think of as a bargain — but for the wealthy, these luxury SUVs are rolling tax loopholes.
When it comes to dealing with the ups and downs of crypto markets, enthusiasts have a term for long-haul investing. "HODLing" may look like a weird typo, but it actually stands for "holding on for dear life." That may sound funny if you haven't invested dollars or time into tracking crypto prices, but not so much if you've watched your crypto fortunes boom and bust over time, and if you're just holding on to see what happens next.
Attention to detail: Lawyers understand the “big picture,” which is usually a reflection of what the client is seeking to accomplish. However, the client’s overall goals are predicated upon many details.
If the IRS having more scrutiny over bank accounts makes you squirm, then buckle up. A proposed change to bank reporting standards would require banks to report $600 or more in transactions to the IRS.