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The Team at Sobul, Primes & Schenkel, Author at The SPSCPA Blog

Author Archives: The Team at Sobul, Primes & Schenkel

12 Tips to Keep Your Online Credit Card Purchases Safe

12 Tips to Keep Your Online Credit Card Purchases Safe

The internet is a jungle full of predators, and your credit is their prey. According to the FBI’s Internet Crime Complaint Center, most cybercrimes committed in 2017 were related to internet shopping. A record 15 million people were victimized by identity fraudsters in 2016. This surge was impelled by a 40% increase in card-not-present fraud. Criminal hackers are becoming alarmingly Read More »

Forget the Playoffs, College Football’s All About New Tax Laws and Tickets

College Football is all about New Tax Laws and Tickets

In 1986, two years into Ronald Reagan’s second term, the Democrats regained a Senate majority. David Pryor, a Democratic senator from Arkansas, used his new position as chairman of the Senate Subcommittee on Oversight of the Internal Revenue Service, to launch an attack on what he called the IRS’ “questionable, overreaching activities”. Among the IRS’ “overzealous, heavy-handed, and often illegal Read More »

Opportunity Funds: Do Well by Doing Good

All about Opportunity Funds by SPSCPA.com

There’s a new type of investment fund available called “Opportunity Funds” that might benefit two groups of people. Interestingly, these groups are often not well-acquainted with each other: 1) those who have large investment profits and  2) low-income communities. Let’s begin with a few facts that help show why “opportunity funds” might be an idea whose time has come: At Read More »

Old School Rules Control Taxes on New Age Cryptocurrencies 

Investing in cryptocurrency can lead to new tax bills

Investing in cryptocurrency moved mainstream last year and now more people are staring down tax bills from their big gains. The only official IRS guidance about the tax consequences of your adventures in the Jurassic jungle of cryptocurrency trading is from 2014. And that four-year-old publication offers mere guidance, rather than strictly controlling rules. So the best basic advice when Read More »

Section 1031 Exchange, New Rules You Want to Know

Changes in the Tax Cuts and Jobs Act have made this strategy even more attractive to real estate investors. Under the new Tax Cuts and Jobs Act, the benefits of combining cost segregation and Section 1031 exchanges have become an even more important tax strategy for real estate investors than ever. With the recently passed TCJA, the rules for Section Read More »