Bitcoin values are down over 60% in 2022.

FTX, an offshore crypto exchange imploded/collapsed or just blew-up. It looks like another Bernie Madoff scheme in the making! Multi-billions of dollars are missing and likely will never be found! Oddly, the breaking news on FTX happened at practically the same instance that Elizabeth Holmes, formerly of the now defunct Theranos, was sentenced to over 11 years in prison for massive fraud.

Entity choice is important for many reasons. Asset protection and tax considerations are always near the top of the list. As a business progresses through the five (5) phases of a life cycle: start-up, growth, maturity, renewal/rebirth/decline and succession– the factors that earlier prompted a particular choice of entity may change. And, a new entity choice may become more appropriate.

You wondered at the time whether it was a scam, right? And now you regularly see news reports about ERC scams. Employee retention credit scams, that is. And so, two questions. Did you get scammed? And if so, what should you do at this point? Fortunately, you can probably answer this question pretty easily.

Chatting with an executor and/or beneficiaries of an estate is a common occurrence for us. In these meetings, one of my early questions is whether the decedent had any assets in tax-deferred retirement accounts such as IRAs. The answer may have far-reaching tax consequences.

For a multitude of pandemic and economic reasons, more and more Americans aged 65 and older are working. A study by MagnifyMoney shows that in May, 2022 - 21.9% of Americans over the age of 65 were still working. Two years earlier, that same percentage was 19.5%.

With technology developing more and more every year, it seems like we should have a dozen different ways to access our information. In this article, the WSJ reveals that this isn’t true when it comes to the IRS. The IRS has had problems with its system that verifies whether or not you are who you say you are. Thus, they have turned to a private company, ID.me, that will verify your identity prior to letting you see your tax documents. Their services come cheap it seems, and some fear their private information is the cost.