Selling personal items online has become an increasingly popular way for people to declutter their homes and earn some extra cash. Platforms such as eBay, Etsy, and Facebook Marketplace have made it easier than ever to connect with buyers and sell unwanted items. However, many sellers are unaware that these online transactions may have tax […]

The Internal Revenue Service (IRS) recently introduced new tax-reporting regulations targeting decentralized finance (DeFi) platforms. These rules, which require DeFi protocols to collect user data and report transactions to the IRS, have faced significant opposition from industry advocates, legal experts, and lawmakers alike. Now, efforts are underway to repeal these regulations, raising important questions about

Health Savings Accounts (HSAs) are powerful tools for saving money on healthcare expenses. They offer tax benefits, allowing you to set aside money for medical costs while reducing your taxable income. But, like many financial accounts, HSAs come with specific rules, especially when it comes to reporting and filing taxes. One important part of the

If you’re someone who has savings accounts, bonds, or other interest-earning investments, you may already be familiar with Form 1099-INT. This form is important for reporting interest income to the IRS. For many savers, understanding how to handle this form can be a bit confusing. However, it doesn’t have to be. In this article, we