March 2022

1. Involved in Crypto? Here Are Some Tax Issues 2. Reporting Income Earned from Gigs 3. Tip Income Responsibilities for Employees and Employers 4. IRS Issues the 2022 Foreign Housing Cost Exclusions 5. Supreme Court Declines to Hear Passport Revocation Case

In the current economic environment, many rental property owners are incurring losses. But they may not to be able to currently deduct them. Here's an overview of information that property owners should know about: deductions for operating costs and depreciation, the passive activity loss rules, the excess business loss rule and net operating losses, as well as details about properties generating taxable income.

If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you file your tax return for 2021 and plan for 2022. […]