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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

Therefore, crypto is subject to capital gains taxation, just like other capital assets such as equities, real estate, and bonds. That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. How Do Businesses Report Capital Gains Tax on Cryptocurrency?

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

Therefore, crypto is subject to capital gains taxation, just like other capital assets such as equities, real estate, and bonds. That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. How Do Businesses Report Capital Gains Tax on Cryptocurrency?

Tax 52
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Fiduciary tax 101

ThomsonReuters

To help accounting professionals, especially those entering the profession, this article will explore how fiduciary income tax is different from estate tax, who files a fiduciary tax return, what defines estates and trusts, and more. What is fiduciary tax? of the estate or trust. Mutual funds.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate. Shareholders still must file their personal income tax returns and report the corporate dividends and capital gains they get as part of their taxable income.

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What is sales tax?

ThomsonReuters

Sales tax varies by state As noted earlier, sales tax can be an important source of revenue for governments at the state and local levels. This is a point where it can get confusing for businesses as local sales tax varies by state. The presence of property such as goods, offices, real estate, vehicles, etc.

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Restaurant Revitalization Fund – Details

KROST

Step 1: Begin with gross receipts as reported on the eligible entity’s 2019 Federal tax return. Step 1: Calculate your annualized 2019 gross receipts: Step 1(a): Begin with gross receipts as reported on the eligible entity’s 2019 Federal tax return. Business tax returns (IRS Form 1120 or IRS Form 1120-S).