How Are Bitcoin and Other Virtual Currencies Taxed?
Bitcoin and other virtual currencies are no longer a novelty, but many individuals and companies are unaware of the federal and state tax ramifications of using them in transactions. It might seem hard to believe, but bitcoin has been around for a decade and the IRS laid out the rules for reporting and taxing the […]
Recent Changes in Tax Law: Restructuring of the Board of Equalization, New Tax Laws of 2017 Filing Seasons, and What to be Aware of in 2018
Introduction This guide will: Update you on the recent change in the State Board of Equalization Let you know how you or your business will be affected Outline some key changes to tax law during the 2017 filing season Make you aware of upcoming changes in the 2018 filing season Code Accounting Business Solutions If […]
Keeping your Gains
In the financial world, capital refers to the things you own that have value. When you sell those things, you either make more than the original cost, sell for less than the original cost, and in rare instances, break even. This is a painfully simple explanation of the concept of a “capital gain” and a […]
DIY DISASTER
How doing your taxes can become a complete nightmare… In the age of Amazon, YouTube tutorials and ubiquitous internet access, it feels like you can do anything. When was the last time you hopped on WebMD to try and diagnose yourself? Or the last time you googled how to solve a plumbing issue? If the […]
10 Tax Deductions You Never Knew About
Finding deductions like these is why you need CODEaccounting! Tax deductions are money that you deserve. It’s that simple. And while the IRS is judicious in making sure you pay what is owed, they aren’t quite as dedicated to deducting what you shouldn’t be paying. They put that on you, which means there may be […]
4 Ways to Avoid Audits
Here are a few tips to keep the likelihood of an IRS audit as low as possible. Getting audited is never a good experience. Even if you keep thorough records, having some review your business with a microscope can be uncomfortable. That’s why we’re sharing 4 ways to avoid an IRS audit. Now this won’t […]
Three Tasks You Should Be Automating
Technology has rapidly changed the way we do business and manage our tasks. Advancements happen so fast, that we often miss some of the innovations that we could be utilizing in our workflow. The old saying, time is money, hold especially true in business. Automation can save time on repetitive task that could be better […]
Save on Taxes
Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was introduced in 1973 and is the third largest source of government revenue after Income Tax and National Insurance. It is administered and collected by HM revenue and customs, primarily through the Value Added Tax Act […]
Fundamental Accounting
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that In order to prepare the […]
Proper Invoice Info
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that In order to prepare the […]
