The most recent federal eviction moratorium was set to expire on July 31. On August 3, the CDC issued a renewed moratorium, which was challenged by landlord groups such as the Alabama Association of Realtors. This time, the Court found that the CDC had exceeded its authority and was engaging in a sort of lawmaking that is the responsibility of Congress, not a federal agency. The Court struck down the new moratorium extension. The first, 120-day moratorium had been created by

On August 10, the Senate passed the one-trillion dollar Infrastructure Investment and Job Act. The bill is not yet law as it has not been voted on in the House. However, it is good to be aware of what could soon become new law as the bill has several tax implications. Let’s explore some of the tax implications of this proposed legislation. Cryptocurrency is a current hot topic. This bill contains new reporting requirements for cryptocurrency brokers and establishes penalties

Bitcoin, Dogecoin, and Ripple—you’ve probably heard of them, they’re some of the most popular cryptocurrencies on the market this year. Many people are beginning to invest in cryptocurrencies, and you will be required to report them on your tax return. The IRS considers these cryptocurrencies as virtual currency, or a “digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.” Notice 2014-21, 2014-16 IRB 938. These cu

If you own and operate heavy vehicles, like semi-trucks or tow-trucks, on the public highways, you must be sure to pay the Heavy Highway Vehicle Use Tax. As a use tax, this is something that you must pay in addition to the sales taxes you paid to purchase your vehicle. Use taxes are a recurring tax, meaning they are not just paid at the purchase of your vehicle. The type of vehicle subject to this tax is a “highway motor vehicle” with a gross weight of 55,000 pounds or higher

Tax deductions are a fantastic way to reduce your overall taxes by decreasing your taxable income. There are many different kinds of tax deductions recognized by the IRS. One such deduction is the Charitable Contributions Deduction. This deduction is governed by Section 170 of the Internal Revenue Code. Let’s briefly explore some of the basic requirements of this deduction. First, the organization to which you are donating must be a qualified organization, as defined by IRC 1

The sale of real property is generally subject to taxes. Lots of taxes. So, those buying and selling property may consider structuring the sale as a 1031 Exchange because it allows the investors to defer capital gains taxes that would normally be due at the time of the sale. 1031 Exchanges require the seller to re-invest the proceeds in “like-kind” investment properties in order to defer the capital gains. If someone is selling a property that was originally purchased for res

Unlike a traditional IRA which is generally overseen by a brokerage house and is limited to investments in stocks, mutual funds, and the like, a self-directed IRA provides broader discretion to the account holder to invest in things like real estate and businesses. In a self-directed IRA, the account owner holds the power to make their own investment choices. A self-directed IRA is an IRA fund that permits broad discretion to invest the IRA-held accounts into any legally auth