#tax-compliance
Tax Compliance
Stay compliant with tax regulations and filing requirements
Bitcoin Mining Bookkeeping: Why Every Mining Pool Payout Is Its Own Taxable Event
Under IRS Notice 2014-21, every mining pool payout is ordinary income at its fair market value on receipt — a daily-payout pool creates ~365 taxable events a year before you sell anything. This guide covers hobby vs. Schedule C classification, 15.3% self-employment tax, Section 179 vs. 100% bonus depreciation for ASICs, the 2026 per-wallet cost-basis rule, Form 1099-DA reconciliation, and the per-lot records mining books need to survive an audit.
Canada Killed the Underused Housing Tax. If You Own Property There, Your Paperwork Isn't Done Yet.
Canada repealed the federal Underused Housing Tax for 2025 onward on March 26, 2026, but the repeal is not retroactive — US owners of Canadian property still owe UHT returns, penalties, and interest for 2022–2024, and BC's Speculation and Vacancy Tax, Vancouver's Empty Homes Tax, and Toronto's Vacant Home Tax remain in force.
Esports Organization Bookkeeping: Prize Pools, Sponsorships, and the New 1099 Threshold
Esports organizations must separate prize revenue from player distributions, recognize sponsorship revenue under ASC 606 as obligations are delivered, and track the 2026 rise of the Form 1099-NEC/MISC filing threshold from $600 to $2,000 per payee.
HMRC Just Got the Legal Right to Inspect Your Cloud-Hosted Records: What the UK's Modernized Section 114 Powers Mean for Digital Bookkeeping
Draft Finance Bill 2026-27 clauses published on L-Day (July 13, 2026) modernize HMRC's Schedule 36 inspection powers to explicitly cover cloud-hosted accounting records, with consultation open until September 7, 2026. Here's how the change interacts with Making Tax Digital and what UK small businesses should do now.
Independent U-Pick Farm and Agritourism Bookkeeping: Schedule F vs Schedule C, Multi-Enterprise Tracking, Sales Tax, Weather Reserves, and the KPIs That Make a Season Pay
U-pick berries are farm income, admissions and donuts are not — split Schedule F and C, track per-enterprise contribution, tax admissions and prepared food, reconcile Square, and run on revenue per acre and per visitor.
Canada GST/HST for Cross-Border Sellers: The CA$30,000 Worldwide Threshold
Canada's GST/HST small-supplier exemption is based on worldwide taxable sales, not Canadian-only revenue, so a US seller with zero Canadian sales can already owe registration once global sales pass CA$30,000 in a quarter or over four trailing quarters.
DAC7 Explained: What US Online Sellers With EU Customers Need to Know
DAC7 requires platforms like Etsy, Airbnb, and Upwork to collect and report seller data to EU tax authorities whenever a US seller's activity touches an EU customer or property, with goods sellers exempt below 30 transactions and €2,000 per year.
Finland's 2026 VAT Threshold: Why €20,000 Is Now All-or-Nothing for Freelancers
Finland's 2025 VAT reform raised the small-business exemption to €20,000 but eliminated the sliding-scale relief that used to soften the jump to full VAT liability at €30,000, so crossing €20,000 now means owing VAT on 100% of turnover with no phase-in.
H-2A Wage Rules for 2026: What Changed in Farm Labor Costs
The Department of Labor's October 2025 H-2A rule replaced the flat state AEWR with a two-tier OEWS-based wage system and a new housing credit of $0.71 to $3.18 per hour, projected to save U.S. farms $2.4 billion a year — but it requires separate pay codes by skill level and documented job orders to survive an audit.
Illinois Excludes 401(k) Employer Matches From Unemployment Insurance Wages Starting July 1, 2026
Illinois excludes employer 401(k) matching contributions from state unemployment insurance (SUI) taxable wages for contributions made after June 30, 2026, under an amendment to 56 Ill. Adm. Code 2730.155; employee deferrals remain taxable, and the change aligns Illinois with existing federal FUTA treatment.
Independent Voiceover Artist Bookkeeping and Taxes: Schedule C, Home Studio, Gear, Agent Commissions, Residuals and Multi-State Income, and the KPI That Explains Your Year
Every audition is unpaid labor — track per-job gross vs commission, pass exclusive-use for the home booth, expense gear via Section 179/bonus, allocate buyouts over usage, and run on revenue per audition.
IRS Business Tax Account Expands to Partnerships, Nonprofits, and Government Entities
On April 6, 2026, the IRS opened its free Business Tax Account portal to partnerships, tax-exempt organizations, and government entities, letting a designated official view balances, download an EIN verification notice, and make payments online instead of mailing paper forms.