Andrew Coleman
Articles
Selling Bitcoin - Asking For A Friend
Let’s say you had a friend that wanted to transfer some bitcoin to you to sell on their behalf - what does this mean for your U.S. tax obligations? ...
Self Employment Tax Considerations For Clergy
If you are a missionary or clergy working in another country (receiving form 1099 from a church), you may be liable for self-employment tax if your place of employment is in a country without a totalization agreement, The income should be reported on Schedule C, Form 1040. If the minister has incurred out of pocket expenses ...
(IRS) Sailing Permit - No Life Vest Necessary
What is a Sailing Permit & do I need to file one? Unfortunately this form is not as appealing as the name may indicate. The Sailing permit is a type of the document that exists but rarely obtained. The main reason is that most aliens leaving the US are e...
5 Ways the IRS Can Fine & Penalize Taxpayers
You’ve done the work and your tax return is prepared - now what? In the unfortunate circumstance that you owe the IRS tax, your project is not done until you’ve paid the piper. Let’s examine separately the various fees the IRS may charge you: • Interest • Failure to Pay Estimated Payments<...
Bitcoin & Other Virtual Currencies on Your U.S. Tax Return
Welcome to the gold rush of 2017, where the new gold is no longer a physical product, but virtual currency (cryptocurrency). All the rage in silicon valley, the subject of many ...
Self-Employment Taxes When Working Outside the US
Are you a contractor or an employee? This tax self-identity crisis will depend on how your income is reported. Depending on where you are employed, IRS reporting requirements vary. You are paid by a U.S firm If payment for services rendered is listed in box 7 of Form 1099...