Your cryptocurrency transactions have tax implications, and reporting correctly to the IRS is very important in 2022. We’ve put a quick guide together for you to get set up to protect yourself. We are happy to answer questions on crypto to maximize your return. Read about how to track your transactions, Bitcoin, Ethereum, staking, DeFi, NFTs …
Income Tax Key Numbers 2021-2022
We’ve summarized income tax brackets and details for you, for the tax year 2021 and filings in 2022. You can compare rates for both tax years 2021 and 2022 to see the rate changes you can expect for next year. We also provide tax services for cryptocurrency …
Videos: Tax Tips and Strategies
At Financial 1, we offer practical strategies to help you grow your assets and build wealth. We believe in thinking “out of the box” and we are not afraid to challenge conventional wisdom in our approach to accounting, tax planning and preserving wealth. Three videos to help you get started …
Economic Update: Second Quarter 2020
After a sharp waterfall drop in March, major equity markets advanced strong in the second quarter. Following the Dow Jones Industrial Average’s (DJIA) worst first quarter ever the index posted its best second quarter performance since 1938 rising over 17%. The S&P 500 ended the quarter up 20% …
Economic Update: First Quarter 2020
The first three months of 2020 were filled with Covid-19 fears and economic responses. The world is experiencing a pandemic and a financial crisis that caused many investors to feel a level of anxiety that they have not had for over a decade. It’s almost impossible to remember that in Mid-February …
The Market Sell-Off and Coronavirus: An Investor’s Perspective
Investors have now experienced their first disruption of the year: The Coronavirus. The investing experience is no stranger to unexpected surprises and on Monday, February 24th, all three major equity indexes fell over 3%. The worst daily performance since February 2018 …
Filing 2019 Income Taxes and Planning for 2020
For 2019, Form 1040 has been slightly redesigned. There is time to look into tax planning ideas for your 2020 taxes, but here are some things tax filers should review. There are seven federal income tax brackets for 2019. The lowest of the seven tax rates is 10% and the top tax rate 37% …
Welcome to 2020
Learn what’s ahead for 2020 and get your 2019 taxes ready for this April. Our primary goal for the new year is to continue our tradition of helping clients work toward achieving their personal financial goals. To make that process more efficient, we send out the attached convenient 2020 CHECKLIST …
Year-end Tax Moves for 2019
This report focuses on what individual taxpayers can potentially do to save money on their 2019 taxes. The Tax Cuts and Jobs Act (TCJA) enacted in 2017 brought many changes to the tax code. One big uncertainty is what will happen to the Tax Code after 2025. The way the Tax Cuts and Jobs Act is set up …
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