We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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๐๐ค๐ฌ ๐๐๐ฃ ๐ ๐ฅ๐ง๐๐ฅ๐๐ง๐ ๐ข๐ฎ ๐๐ค๐ค๐ ๐จ ๐๐ค๐ง ๐ฉ๐๐ ๐ฃ๐๐ญ๐ฉ ๐๐๐ ๐๐ช๐จ๐๐ฃ๐๐จ๐จ ๐๐๐๐๐จ๐๐ค๐ฃ?
When you're trying to figure out if you can afford to hire help, invest in new equipment, or expand, messy books can be the issue that will paralyze you.
Before you make your next big move, you need to be able to see:
โข Exactly which products or services are carrying your profit margins
โข Where your cash is actually trapped (and when it will unlock)
โข Which subscription fees or vendor costs are quietly eating your cash
โข If your bank balance is actually yours, or if it's already spoken for by upcoming taxes and bills
If your numbers are behind or unclear, youโre left guessing when you should be planning.
Don't wait until you're forced to make a high-stakes choice to clean things up. Having accurate, real-time reports means you can move fast when an opportunity pops up.
On a scale of 1 to 10, how confident are you that your books are ready for your next big business decision?
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Could you find your most important financial documents in 10 minutes?
A mortgage statement.
An insurance policy.
A loan document.
A birth certificate.
A will or other important record.
If those files are scattered across drawers, emails, apps, and old folders, now is a good time to give them a real home.
Start by grouping documents by type, labeling the folders, and deciding what should be stored physically, digitally, or both.
A little organization now can make those important records much easier to find later.
www.kiplinger.com/personal-finance/how-to-store-your-financial-documents
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๐ฟ๐ค ๐ ๐ค๐ฌ๐ ๐ฉ๐๐ญ๐๐จ ๐ฌ๐๐๐ฃ ๐ ๐จ๐๐ก๐ก ๐ค๐ง ๐ฉ๐ง๐๐๐ ๐๐ง๐ฎ๐ฅ๐ฉ๐ค?
If you made money on the transaction, yes.
The IRS treats cryptocurrency as property. So selling crypto, swapping one token for another, or using crypto to buy something can create a taxable gain.
The real question is whether or not you received more than you paid.
To figure that out, you need to know:
โข What you originally paid
โข What you received when you sold or traded it
โข Any fees tied to the transaction
โข How long you held the crypto
Crypto held for one year or less is generally taxed as a short-term gain. Crypto held for more than one year may qualify for long-term capital gains rates.
If you made several trades, used more than one wallet, or arenโt sure what needs to be reported, reach out before you file.
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First State CPAs & Associates |
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18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |