The number of internet-based transactions that occur daily between independent buyers and sellers is staggering. It’s important to remember that these virtual activities often trigger real-world tax implications. Here are some things to keep in mind: Internet marketplaces – Proceeds of sales of …
taxes
Common Causes of Surprise Tax Increases
Picture this: For the past few years you've prepared your tax return and had a small but welcome refund. Now imagine your surprise when this year, you are required to write a fairly large check to settle your tax bill. So what gives? Here are some situations to watch for that can increase your tax …
I Owe Tax on That? 5 Surprising Taxable Items
Wages and self-employment earnings are taxable, but what about the random cash or financial benefits you receive through other means? If something of value changes hands, you can bet that the IRS considers a way to tax it. Here are five taxable items that might surprise you: Scholarships and …
