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VK Professional Services

2023 Tax Changes

The IRS is still making changes for 2023 Tax Season!  But here are some to be aware of:

  1. Register your company(each one) on fincen.gov

  2. Virtual currency applied as property taxation when cashed out in US income - must have crypto report from CoinBase for return to be filed, or from bank sold

  3. Please keep up with all gambling receipts - can report winnings and losses - cannot report losses that exceeds your winnings

  4. Corporate Transparency Act - Registered Agents (Key players) for each company is required to file an informational return to Finn starting 1/1/24(new), later date for existing entities

  5. $4000 federal credit on used Clean vehicles; $7500 for New

More will be added as approved by the IRS...

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