
VK Professional Services
2023 Tax Changes
The IRS is still making changes for 2023 Tax Season! But here are some to be aware of:
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The IRS has extended the 1099-k for Venmo, PayPal, cash app payments til 2024 TY and the threshold will no longer be $600, but $5000 (stay tuned for more in Tax Webinar)
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Virtual currency applied as property taxation when cashed out in US income - must have crypto report from CoinBase for return to be filed, or from bank sold
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Please keep up with all gambling receipts - can report winnings and losses - cannot report losses that exceeds your winnings
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Corporate Transparency Act - Registered Agents (Key players) for each company is required to file an informational return to Finn starting 1/1/24(new), later date for existing entities
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$4000 federal credit on used Clean vehicles; $7500 for New
More will be added as approved by the IRS...