Silicon Valley Tax Coach

Russell Barnett, EA, CTP will be hosting a free virtual "Town Hall" style meeting through Zoom on April 1, 2020 at 1:00 PM PST. This free meeting is open to the public but does require pre-registration - only 100 attendees are allowed by the platform but if it fills up we will open up a second session. You do not need to be (or become) a client of SVTC to listen in or to ask questions. Please feel free to share this post or tag in the comments any friends, family, co-work...ers, or employers who may need this information. At this meeting, Russell will be explaining the recent changes to the tax code that have been made in response to the COVID-19 pandemic and how they impact you. Russell will also be answering questions throughout the meeting. We look forward to "seeing" you at the meeting!

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Do you have an account with Coinbase? Did you receive a letter from the IRS recently that sounded very scary and threatening, stating that you may have unreported income from crypto currency transactions? If you properly reported your transactions then you shouldn't have anything to worry about. At least one of our clients who reported every sale received one, and the author of this article writes that several of his clients are in the same boat. On the other hand, if you DIDN'T report all of your crypto sales, perhaps it is time to revisit your return(s)!

It can be difficult for your clients to navigate through the often-confusing options when it comes to retirement plans. Not only that, the types of IRAs available to your clients have a direct impact on their taxes. Adding retirement planning services whether that’s working as an actual agent selling retirement accounts or acting as a financial advisor can be a natural outgrowth of your tax work with individuals and businesses. For a complimentary consultation, you can reach us at https://buff.ly/2QXrEOo Schedule An Appointment https://buff.ly/2WThjbm

This is the most common service paired with tax services. Often, it works the other direction, however. Many accountants see their business slowly evolve into a tax business over time, rather than the other way around. That being said, many tax professionals choose to be tax professionals precisely because they wish to deal with that kind of work, and don’t want to do standard accounting. In many ways, this is a matter of personal preference. The good news is that, if you decide to add accounting to your tax business services, many of your small business clients will be more than ready to consider hiring you to work for them. For a complimentary consultation, you can reach us at https://buff.ly/2QXrEOo Schedule An Appointment https://buff.ly/2WThjbm

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