You moved to a no income tax state from a high-income tax state. Only to find you still owe taxes to the state you left. Why are you paying taxes to a state you  no longer live in? The pandemic changed how laptop workers migrated. Many left to lower income tax states with more housing… Read More

You’re a W-2 employee and you withhold taxes. But you owe taxes when you file. How come you have a tax due balance when you are withholding taxes on your paychecks? Let’s dig in. You may have other income not subject to withholding. Do you have self-employment income from a side gig but are not… Read More

Do you have a hobby or business? If you have a hobby, you do not have all deductions available to use on your return. If you have a business, there are more deductions you can take. How can you tell if you have a side gig? The IRS states businesses operate to make a profit.… Read More

ABCs of Crypto ….cryptocurrency can be complicated for the average person. Add income tax regulations an it can all be overwhelming. This will be a useful guide for those who want to understand crypto and associated taxes that affect crypto transactions. Letter A Altcoins Derived from the words alternate and coins. All coins except for… Read More

Year-End Tax Planning (Itemized Deductions) In the previous newsletter, year-end tax moves were discussed for taxpayers who filed their taxes using the standard deduction. To recap, some strategies available for taxpayers using the standard deduction include: • Checking Paycheck Tax Withholding • Maximizing Your Retirement Account Contributions • Using Up Your Flexible Spending Account Before… Read More

Introduction   Welcome to my first newsletter. Who am I? Let me introduce myself. My name is Ralph Mendoza and I am an Enrolled Agent. What is an Enrolled Agent? It’s a question I get often. An Enrolled Agent is someone granted the privilege by the IRS to prepare unlimited individual and business tax returns.… Read More