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Report: Florida Nets $17 Billion As Wealth Relocates From High-Tax States
The state and local tax (SALT) deduction is causing more Americans to move from high tax states to states with no income tax. David Asman, Jonas Max Ferris, Jackie DeAngelis, Gary B. Smith, Jack Hough. Fox Business: Bulls & Bears
Report: California Cities Using Tax Money On Projects That Increase Congestion
American Majority CEO Ned Ryun tells Fox Business the leadership of California should realize they need to deal with the priorities of the tax payers. Elizabeth MacDonald. Fox Business: The Evening Edit
The intersection of Crypto Currencies and taxes is a very tricky subject.
In this podcast we address the difference between short term gains and long term gains and how some tax payers may even be in a 0% bracket without even realizing it.
Ever wonder how Airdrops are taxed? Or what about forks? What happens when you swap a main net coin for a token. i.e Ethereum for an ERC-20 token.
How is mining treated and when is the tax applied? Is the tax applied when you receive the coins or is it applied when you sell the coins?
What about wash sale rules? Are you allowed to claim a loss and immediately buy your bitcoin back? How does the IRS view crypto?
All of these subjects and more are discussed and make sure to stick around for our ad at the end which goes over important reasons to consider a crypto IRA?
Rough outline below:
Today we are joined by Beth logan who is an enrolled agent with kozlog tax advisers. Beth is one of the few tax professionals who has an understanding of crypto and more importantly what that means for you and your taxes. The government has sure made it difficult for people to understand what the heck is going on. IRS says bitcoin is property but what does that mean for others…. CFTC says it’s a commodity and the SEC says that ICO’s are more than likely securities but bitcoin and Ethereum aren’t securities. Bottom lines it’s a mess. A lot of people are confused and that’s where Beth can help us out.
I think the first thing people want to know is what is an enrolled agent and maybe what the difference between an EA and a CPA we’ve all heard of Certified public accountants but most people probably have no idea what an EA is? So can you help us out a little and break down the distinction.
What are some important distinctions crypto investors need to make as it pertains to how their gains are treated. Lets say I got started early and I was mining with my laptop… How would that be treated? What about the person who bought a few bitcoin off coinbase several years ago and last year they exchanged some of it for another crypto? Would this be treated as a like kind exchange even if it happened before 2018 in your opinion. We’ve seen some examples where someone turned $5000 of bitcoin into $500,00 then they exchanged the 500k into another crypto that lost 90%.... which is most of them. Let’s say they owed 100k in taxes and now they don’t even have $100k… What should someone in this case do? And this is a very real possibility for a lot of people Are gains treated differently if I’m a day trader vs a long term HODLER?
Running into the end of year. What should people be mindful of as they are doing their taxes. Any last second things they need to be aware of?
Segway into Wash sale rules and property vs security. Could someone sell bitcoin today who bought it at $20k. Take the loss and immediately buy back. Could they buy back same day? Wait 30 days? Get into 3k max loss but can offset future gains Long term vs short term gains Anything else
What about crypto businesses or ICO’s that raised maybe $25 million in Ethereum and maybe now its only worth $2.5 Million. If they pay their employees in Eth are the employee’s basis the price of ether when it was transferred? Can the company write any of these losses off? Probably something this company would want to talk with you or someone like you one on one as a lots going on. Question from the audience: What about people who mainnet coins to tokens? Someone exchanges ETH for an ERC 20 token like Binance coin? good crypto tax trackers recommended,
When wealthy New Yorkers left the state previously it was hit or miss on whether or not the state would audit them in an attempt to squeeze any and all tax money they could out of them before the did. Now, it is a given that they will be audited for this purpose. The state is blaming the Trump lead Republican tax cuts because of the reduction in the SALT (State and Local Tax) deduction, as opposed to tax rates being too high.
In this video we take a look at the steps the state of New York will take to try to squeeze every penny possible from the wealthy that are fleeing the state.
Welcome to Going Sideways. This is a video series about current events that affect our preparedness and our freedom. News articles and current events are discussed from a Squirrel Bait point of view. Links are always provided so you may read any information presented for yourself which I encourage you to do.
Thank You For Watching. Think For Yourself And Question Everything!
Intro music: Dynamic by dj answer
- U.S. Conference Of Mayors launches a formal institute for smart cities. - Washington State declares a measles outbreak a state of emergency and removes more vaccines exemptions. - Illinois and New York introducing bills requiring submission of social media information in order to obtain firearm licenses. - New Jersey wants a "rain tax". Pavement on your property could lead to payment of a new tax. - Watch your local government!
It's here. We're finally starting to see the electronic big brother control grid of the technocrats' wildest dreams being rolled out. Because the gas tax is no longer viable, you know, what with all the fuel-efficient hybrids and electric cars on the roads out there. Now the only possible solution the system and its minions can apparently come up with is to track us all everywhere we go and tax us for each and every mile we drive.
Classic problem — reaction — solution.
Although this is starting on a volunteer basis in Oregon, they are beta testing it before it becomes mandatory. Some 28 other states are currently working on similar plans, and the federal government has its own nationwide version as well. As we've said before, it's like we're living in the period just before every dystopic future movie you've ever seen (in this case, "In Time" immediately comes to mind).
According to the official Oregon DOT website (myorego.org), this is "a fair and sustainable way to fund road maintenance, preservation and improvements for all Oregonians."
Check that site out and read between the lines. Just... Wow. Guess we'll be a really "efficient, sustainable" society, but we won't be a very free one.
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Somehow at some point alimony payments became tax deductable. With the Trump tax cuts that has changed and divorce attorneys do not like it. They are actually pretty vocal about it too. This should raise some red flags too.
In this video we take a look at why they so vocal about the end to alimony deductions.
"KEEPING AMERICA GREAT" FOR 2020 & 2024 BEGINS RIGHT HERE - NO SUGAR COATING IT, NO WHITEWASHING IT. If you know the history of what Edifying Others has done and influenced, you know it's true. From exposing North Korea's masonic hierarchy to force Trump and Kim into peaceful negotiations. To completely destroying the fraud that was ISIS. These are just two things out of countless things the ministry of God has done. Who are you hiring to work in the field? Signup Through Paypal For Monthly Donations To Viewer Supported Edifying Others. Paypal https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=3ZWKQUETYFVWW
I had the pleasure of meeting a man who didn't file taxes since 1985. And he got away with it. Except he didn't think so. The game of cat and mouse with the IRS took its toll. Forced to live off the financial grid, always asking girlfriends and family to borrow their name or credit card.
Unless you’ve missed the bus for the past week, you probably know that Congress passed, and President Trump just signed, a 1.3 trillion dollar Omnibus spending bill.
Nancy Pelosi and Chuck Schumer are grinning ear to ear about it, but a lot of conservative politicians and conservative voters, are feeling like their representatives, and their President, just threw them, under the bus.
Did President Trump just run over his base of loyal supporters? Or does he have something else up his sleeve?
Watch this episode of Politically Correct- or you’ll really miss the bus!
Please copy and paste the above link into your browser and read the article posted by CBS Local. Learn what is happening in pension funds. They are going broke and will soon need a citizen bailout in the form of additional higher taxes.