1. What Meals Can You Deduct After the 2018 Tax Law Changes?

    On 22 December 2017, the President signed tax reform legislation known as the Tax Cuts and Jobs Act (TCJA). While the full implications of the Tax Cuts and Jobs Act are still unraveling, a number of tax-planning opportunities have presented themselves. The Tax Cuts and Jobs Act of 2017 has also made significant changes to the deductibility of business meals and entertainment starting in 2018. Gene…Read More

  2. HOW TO REPORT TRANSACTIONS TO THE IRS IF YOUR BUSINESS ACCEPTS CRYPTOCURRENCY AS PAYMENT METHOD

    With an exponential gain in value and thousands of businesses now accepting it as a form of payment, Bitcoin has quickly become one of the trending topics throughout the country. While there are various types of cryptocurrency out there, Bitcoin is currently the most popular form of digital currency (also known as virtual or cryptocurrency) throughout the world and is able to be exchanged for U.S …Read More

  3. Crypto Becomes Fastest Growing Fidelity Charitable Donation

    Here at Camuso CPA, we offer CPA tax help for cryptocurrencies in Charlotte. Navigating the waters of the tax regulations for this new monetary medium can be tough. But, it is still well worth it to invest in this exciting new opportunity. In fact, there are so many people making money off of cryptocurrencies that Fidelity Charitable has reported that cryptocurrencies are their fastest growing cha…Read More

  4. Cryptocurrency Tax Returns: Should You Prepare Your Own?

    Many people have reaped some serious rewards from their cryptocurrency investments. It's a lucrative new monetary medium that many people are getting behind. But because it is new, it becomes harder to navigate when tax season comes around. Taxes can be hard enough to understand when you are dealing with normal income, and many people end up leaving money on the table. Mistakes become much more li…Read More

  5. Cryptocurrency Facts

    Here at Camuso CPA, we are happy to announce that we are offering cryptocurrency tax help in Charlotte. If you are new to the amazing trend that is cryptocurrency, you aren't alone. The value of certain cryptocurrency has skyrocketed, and any opportunist should be glad to know more about this exciting digital currency. To help you understand this new form of currency, we have listed some facts abo…Read More

  6. HOW ESSENTIAL PROPERTY TAX MANAGEMENT IS?

    From the word per se`, “management” is a way of managing taxes; a person ensures that he is making timely payment of taxes without running out of the money and is complying with all the provisions of the law for his property that needs to be reported for tax purposes. Property tax is a tax assessed on real estate. The tax is usually based on the value of the property including the land one own…Read More

  7. INHERITED IRA AND ITS POTENTIAL TAX IMPLICATIONS

    What is an Inherited IRA? It is an individual retirement that is left to a beneficiary (spouse or non-spouse) after the owner's death. If the owner had already begun receiving required minimum distribution (RMD's) at the time of his or her death, the beneficiary must continue to receive the distributions as already calculated or submit a new schedule based on his or her life expectancy. Potential…Read More

  8. The Genesis of CryptoCurrency

    In a fast pace financial industry, Bitcoin and all the cryptocurrency family can be considered a real phenomenon and become not only an object of attention in the Internet environment, among professionals, investors,  business tycoons and all walks of life are discussing this phenomenon because this is not just a progress, but a real leap in the financial industry. Bitcoin the New Currency Evolut…Read More

  9. Common Questions Regarding Charitable Remainder Trusts

    Do I have to take the income now? You can set up the trust and take the income tax deduction now, but postpone taking the income until later. By then, with good management, the trust assets could have appreciated considerably in value, potentially resulting in more income for you How is the income tax deduction determined? The deduction is based on the amount of income received, the type and value…Read More

  10. Real Estate Divestment Tax Strategy: Charitable Remainder Unitrusts

    For many individuals and investors, real estate represents the largest portion of their net worth. Real estate has been a popular investment tool both for income and long-term appreciation. Individuals or businesses intending to divest real estate have several options. These include outright sale or donation, bequest, bargain sale, charitable gift annuity, charitable remainder trust and retained l…Read More