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Cryptocurrency Taxation - Understanding the implications of cryptocurrency validation rewards for cash-method taxpayers - Walker Glantz PLLC
Accounting
Decentralized Finance
Tax Tips
Tax Updates
Taxes

Understanding Rev. Rul. 2023-14: Inclusion of Cryptocurrency Validation Rewards in Gross Income

As the cryptocurrency market continues to evolve, so do the tax implications for taxpayers using digital assets. In a recent development, the IRS released Revenue Ruling 2023-14, addressing the treatment of cryptocurrency validation rewards for cash-method taxpayers. This ruling has significant implications for entrepreneurs who engage in cryptocurrency staking on proof-of-stake blockchains. In this blog [...]

Tax Insights: What to know when hiring your child or parent
Business
Business Resources
Tax Tips

Tax Insights: What to know when hiring your child or parent

When it comes to hiring family members into your business, entrepreneurs need to be aware of the employment tax implications. In this article, we’ll list employment tax considerations when hiring parents or children, helping you make informed decisions for your business. Child works for parent: If a child works for a parent’s sole proprietorship or […]

What is a cash flow spreadsheet?
Accounting
Cash Flow
Tech

What is a cash flow spreadsheet?

Whether you run a global corporation or a small business, how you manage cash flow determines whether a business lives, thrives, or dies. Smart business owners partner with an accountant who routinely manages cash flow because they know it provides valuable insights into their business. They make operating decisions based on the availability of cash […]

CPA in Austin, TX calculating estimated taxes
Individual Tax Resources
Tax Tips
Taxes

Tax Smarts: A Guide to Estimated Tax Payments

If you earn income that’s not subject to tax withholdings, you’ll want to consider making estimated tax payments. Due four times each year, estimated tax payments are applied to your current year tax liability. Here are a few situations where an estimated tax payment may be necessary: You are self-employed or receive distributions from a […]

side hustle | CPA | Austin | Houston | taxes | bookkeeping
Business
Individual Tax Resources
Tax Tips

Is my side hustle a hobby or a business?

The IRS has some thoughts. Distinguishing between a hobby and a business is confusing at times, yet it holds great significance, especially when it comes to taxes. The main difference lies in the purpose of they activity: Is it a business attempting to generate a profit? Or is it a hobby for recreational pursuits? Be […]

expenses cash balance difference
Accounting
Business
Cash Flow

Why are my expenses different from the cash balance in my checking account?

When making strategic decisions for your business, knowing how much cash is realistically available is important to successful planning. While the amount in your checking account reflects one figure, the amount you have access to can be quite different. Examine the type of accounting your business follows. There are two types of accounting: cash-basis and […]

Walker Glantz | Work From Home | CPA | Houston | Austin
Business
Hiring

How to maintain professionalism while working from home

Towards the end of 2022 the US Census Bureau published findings revealing the number of people working from home had tripled between 2019 and 2021. Trend forecasters are now anticipating as much as 22% of working Americans will work from home by 2025. It is safe to say, whether you are an employee or an […]

accounting is not a commodity
Accounting
Bookkeeping
Business

Accounting is not a commodity

Used within the production of other products or services, a commodity is a basic good used in commerce that is interchangeable with other goods of the same type. It is common for business owners to consider their company’s bookkeeping as a singular skill and it is often the consensus that one accountant is the same […]

walker glantz
Accounting
Bookkeeping
Hiring

What is it like working at WG?

Researching potential employers is an important part of the interview process. Learning about their values, team, and benefits will save both you and the company time in the hiring process. If you’re reading this, chances are you are considering a career move. Read on to find out who we serve, what we value, and how [...]

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