HARIK THOMPSON CPAs

Tax Considerations When Selling a Home

11/22/2023

When selling your home, you might qualify for the opportunity to exclude part of, if not all, the gains you make from the sale from your income. However, for this possibility to apply to you, it is vital that you meet certain ownership and use tests.

What the Digital Generation Wants at Work

11/22/2023

Gen Zers, who are also known as zoomers, comprise about 70 million Americans born between the mid-to-late 1990s and early 2010s. As they continue to mature, they will increasingly shape workplace culture and dynamics. Thus, employers must adapt and understand their hopes, fears, values and distinctive aspirations.

What Exactly Are Cryptocurrencies?

11/22/2023

Digital assets — such as cryptocurrencies, stablecoins, NFTs, central bank digital currencies and security tokens — are created the moment new information is added to a blockchain via a new block. Blockchain entries not only indicate the presence of existing digital assets, but they signify the minting process of new ones as well.

Tax Advice for Gig Workers

11/22/2023

You might think that gig work is a way to avoid paying taxes on money you receive as income. This is a common misconception. While working as a driver for a ride-sharing business or offering your house as a short-term rental are jobs that do not come with the same income information as employment positions, you do not get to escape taxes when you perform gig work.

Frivolous Arguments the IRS Is Sick of Hearing

11/8/2023

You'll be organizing your paperwork for tax season soon, so now is the time to consider your situation. Contrary to popular belief, you can appeal IRS decisions, but you better have a serious case. Don't pursue tax cases on frivolous grounds! You should know that the courts often decline "to refute arguments with somber reasoning and copious citation of precedent" for a variety of reasons, according to Crain v. Commissioner, 1984.

IRS Tools and Resources To Help Small Businesses

11/8/2023

The small business pages on IRS.gov serve as comprehensive guides for people looking to navigate the entire life cycle of their business as well as their business-related tax obligations.

What Exactly Is Probate?

11/8/2023

Probate is an experience many people go through. However, you'd be surprised how few people know what probate is until they enter the process themselves.

Looking Over Your Team's Shoulders

11/8/2023

There is nothing so demoralizing as reporting to a boss who makes every single discussion feel like a performance review, wants every trivial decision green-lighted and signed off on, and makes every comment a nitpick.

An Offer in Compromise Can Help Resolve Tax Debt

10/25/2023

An OIC is an agreement that taxpayers can enter into with the IRS when they want to settle their tax debt for less than the full amount they owe. To apply for an OIC, you have to pay an application fee of $205 unless you are considered a low-income individual. In that case, the fee will be waived for you.

Why You Need to Know What a dApp Is

10/25/2023

Most apps today run on centralized networks. While centralization is efficient, it generates huge amounts of user data for unwanted exposure to hacking, clickbait and third parties profiting from stealing your data. DApps are stored across many distributed computers or nodes that make up a blockchain network.

<<Previous

Tax Considerations When Selling a Home

What the Digital Generation Wants at Work

What Exactly Are Cryptocurrencies?

Tax Advice for Gig Workers

Frivolous Arguments the IRS Is Sick of Hearing

IRS Tools and Resources To Help Small Businesses

What Exactly Is Probate?

Looking Over Your Team's Shoulders

An Offer in Compromise Can Help Resolve Tax Debt

Why You Need to Know What a dApp Is

Newsletter articles are posted every 2 weeks.

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Newsletter articles are posted every 2 weeks. ​

Categories

Newsletter articles are posted every 2 weeks.