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When is it necessary to file Form 8938?

Obtaining and maintaining significant assets overseas is often an excellent component of any portfolio, but is not without its own set of complications and potential headaches. This is especially true when it comes time to file income taxes.

Bitcoins and 1031 exchanges

The value of Bitcoin has soared over the last month, meaning that numerous Maryland residents who benefited from the soaring prices will face large tax bills if they cash in on their profits. This begs the question: Is there a way to bypass capital gains on these transactions?

What is the importance of Form 8300?

When your business obtains a large cash payment, it may be that you need to file Form 8300 to disclose the payment. This form is specifically used to identify payments going to businesses in the amount of $10,000 or more.

Bitcoin is subject to taxation, regardless of price fluctuations

In recent weeks, bitcoin investors have watched as this cryptocurrency has shed a substantial amount of its value. This isn't uncommon. All currencies tend to fluctuate in value when compared with other currencies. Even the United States dollar can go into periods of increased or decreased international value. Those who own substantial amounts of bitcoin can likely look forward to it regaining some, if not all, of the recently lost value in upcoming weeks.

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