TaxCure Blog

It’s been a handful of years since the introduction of the 1099-K form from the IRS, and there is still confusion about how it should be handled. Even with the instructions from the IRS, many people don’t understand how to manage it, and that has led to headaches at tax time.

When the Powerball prize pot reaches epic proportions (currently, it’s sitting at $1.5 billion), we all start to dream big. Whether you go to the convenience store and buy a ticket, or whether you shake your head at those who do, the reality is that you’ve probably thought about what you’d do if you won all that money.

Recently, the IRS offered a new proposal for substantiating charitable donations. Right now, charities can simply send an appropriate letter thanking the donor for the gift, or offer a receipt for the gift (especially important for donations of goods).

It’s become a yearly ritual: Toward the end of the year, members of Congress put together a bill designed to extend tax breaks that have expired.

We’ve seen quite a bit of volatility recently in the stock market, and that has some investors a little rattled. While long-term investors view these types of downturns complacently, waiting it out for eventual gains over a period of decades, other investors end up selling low and locking in losses.