Cryptocurrency
The IRS considers this to be “property” for tax purposes.
What is cryptocurrency?
Expenses only for the business part of your home.
What is direct?
This is the highest federal gift tax rate
What is 40%?
This new proposed plan being voted on due to new provisions.
What is the Build Back Better Act?
The 2022 standard mileage rate.
What is 58.5 cents a mile?
When reporting virtual currency, you use this to compute the amount to report.
What is the fair market value?
One BASIC requirement to qualify for a home office deduction
What is Regular and exclusive use OR Principal place of your business?
This is the highest federal estate tax rate.
What is 40%?
Funding to the USDA because of COVID-19 come from this.
What is the American Rescue Plan Act of 2021?
Up $50 from 2021, teachers can now deduct this amount for suppliers for 2022.
What is $300?
For those married filing jointly, their 2022 tax rate is this for long-term capital gains between $83,351 and $517,200.
What is 15%?
When you use part of your home as a daycare facility you don’t have to meet this.
What is the exclusive use test?
The annual gift tax exclusion rises to this per donee in 2022.
What is $16,000?
Ending December 2021, this enhanced refundable tax credit is on the list to potentially be extended for 2022.
What is the Child Tax Credit?
The narrowing of this tax break begins in 2022.
What is Research and Development?
Crypto can help address this, which is increasingly relevant to donors
What is privacy?
You own your home and qualify to deduct expenses for business use. Now you can do this.
What is depreciate your home?
This is what you receive when one or more businesses make up greater than 35% of a 2022 estate.
What is an installment payment tax break?
With an increase in the standard deduction in 2022, married couples will receive.
What is $25,900 and $1,400 for each spouse 65 or older?
According to the IRS, leaving the line blank for the Recovery Rebate Credit will resulting in the IRS assuming this.
This is powered by smart contracts on the Ethereum blockchain.
What is Non-fungible tokens (NFT)?
An alternative method to the calculation, allocation, and substantiation of actual expenses.
What is the simplified method?
The lifetime estate and gift tax exemption for 2022.
What is $12,060,000?
Name on popular credit for individuals, besides child tax credit, that ended in 2021.
What is the higher earned income tax credit for workers without children and the larger child and dependent care credit for working parents?
The IRS is developing an electronic version of this form for nonprofits.
What is Form 1024?