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Tax Treatment of Virtual Currency Charitable Donations

Tax Treatment of Virtual Currency Charitable Donations

by Bill Houston | Feb 7, 2020 | Cryptocurrency

The IRS is beginning to aggressively pursue taxpayers with virtual currency transactions. Some of you may have received a letter from the IRS with varying degrees of threats regarding tax returns filed that show no virtual currency (bitcoin type) transactions when...
Deduction For Mortgage Insurance Premiums Reinstated- RETROACTIVELY

Deduction For Mortgage Insurance Premiums Reinstated- RETROACTIVELY

by Bill Houston | Feb 2, 2020 | Reduce Your Taxes

You might recall that the deduction for mortgage insurance premiums died as of Dec 31, 2017. You weren’t allowed to claim those premiums as part of your 2018 itemized deductions. Many people missed this because the doubling of the standard deduction (from $6000...

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