November 8, 2019
If you’re not a fan of Black Friday chaos—you know…the crowds, the rush, the relentless search for a parking space—then ditch the onsite shopping this year while still enjoying the sweet deals.
Here are a few ideas to get in on the savings…without stepping foot in the mall:
Take advantage of Cyber Monday
Why even get in the car when you can find just about anything online? Cyber Monday is a great way to get in on some excellent online deals. Once the ads start rolling out, cross-reference your gift list with Cyber Monday advertisements. Make note of what company is offering the best deals on the gifts you need to purchase. Then, on Cyber Monday, be one of the first to visit vendor websites and purchase items at a discount.
Beware of over-browsing, however. Don’t fall into the trap of buying items that are not on your gift list…just because there’s a good deal.
Shop local and negotiate
If you don’t want to do all your shopping online, shop local! Search out unique boutiques and consignment stores to find custom gifts at Black Friday prices. Sometimes, you can negotiate prices for even more savings.
Remember, gift giving should be fun. Use these tips to avoid the stress of Black Friday shopping if it’s just not your cup of tea.
Virtual currencies or cryptocurrencies such as Bitcoin, Ethereum and Ripple are in the news frequently these days, and for 2019 taxes the IRS is increasing efforts to catch unreported income in this developing medium of commerce and investment. Last year the IRS announced that it was sending letters to over 10,000 taxpayers with virtual currency transactions inquiring about unreported income. On your 2019 tax return, the IRS requires your response to the following question, “At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” Maximum penalties for unreported virtual currency transactions is a fine of $250,000 and possibly even imprisonment.
Prior to 2018, many taxpayers who worked from home were eligible to deduct the cost of their qualified home office as a miscellaneous itemized deduction on Schedule A of their individual income tax return. But the home office and all other miscellaneous itemized deductions were eliminated under the Tax Cuts and Jobs Act (TCJA). Although W-2 employees have lost this deduction, it is still available for a self-employed proprietor (Schedule C), a partner (Schedule E) or a farmer (Schedule F).
There’s no better time to talk about goals than the start of a new year. And what better topic than your career? The following are a few tips to help you set reasonable and achievable goals this year: