Do I Need a CPA? Probably Not…
Many taxpayers turn to Certified Public Accountants (CPAs) for their expertise and guidance. However, hiring a CPA can come with substantial costs. In this article, we’ll answer the question, “do […]
Author: Miguel Alexander Centeno
- About Miguel Alexander Centeno
- Miguel Alexander Centeno is an author, speaker, and tax leader at Shared Economy Tax. A former Big 4 tax manager, he represents taxpayers in all matters before the IRS, including the U.S. Tax Court. He has been quoted in the Wall Street Journal, Fox Business, and MSNBC on tax related articles and has testified before the U.S. House of Representatives as a part of hearings for the Tax Cuts and Jobs Act. A father of three, Miguel is an avid acoustic guitar player, gravel cyclist and once-a-week yogi.
Posts by Miguel Alexander Centeno
Roth IRA Conversion: Explained by Experts
Roth IRAs offer substantial benefits for retirement savers, but there are limits on annual contributions. However, you can bypass the limits by converting a regular IRA to a Roth account. […]
How to Use Tax Loss Harvesting to Save on Taxes
No one wants to take a loss on an investment, but it happens to the best. Fortunately, the government may allow you to deduct your losses on your tax return. […]
Capital Loss Tax Deductions for Real Estate
Real estate looks like an attractive investment in today’s high inflation environment, but it comes with risks. If your investment property loses value, you end up with a capital loss. […]
IRS Postpones $600 Threshold on Form 1099K Reporting
For 1099k 2022, third-party payment processors were scheduled to issue 1099-Ks if you received over $600 in payments. Form 1099-K reports the payments you receive from third-party processors such as […]
America’s Progressive Tax System: Explained
The U.S.’s progressive tax system charges higher tax rates for higher earners. This system is designed to ensure taxpayers of various income levels pay a fair tax rate at the […]
Bookkeeping Rules for Prepaid Expenses
Expenses on the cash basis of accounting are simple. For example, if you write a check or charge something on your credit card, you’ve created an expense. But if your […]
Will I Get a Venmo 1099 for 2022?
Remote work has produced an influx of 1099 independent contractors, and the IRS updated its rules in 2022 to ensure everyone pays their fair share of taxes. As a result […]
IRS Underpayment Penalties and How to Avoid Them
Did you know that if you owe the IRS money and you don’t pay them by the deadline, they will charge you a penalty? In this blog post, we’ll explain […]
New IRS Tax Brackets for 2023: Explained by Pros
In a season when inflation is eating away at incomes, there may be some relief in the new guidelines issued by the U.S. Internal Revenue Service (IRS) for 2023 filings. […]