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An Overview of Tax Reform 2.0 Legislation

With all the focus on the Supreme Court recently, you might’ve missed the U.S. House passing Tax Reform 2.0. Passed on September 28, 2018, the legislation looks to make significant changes to the nation’s tax code. And as you likely recall, the U.S. tax code already experienced major changes via the Tax Cuts and Jobs […]

6 Common Cryptocurrency and Digital Asset FAQs

Whereas some asset classes like real estate or private equity are fairly easy to understand, the cryptocurrency asset class is a little more complex. While many investors are interested in this new asset class, some are hesitant to enter the space without learning more about Bitcoin, blockchain, and all things cryptocurrency. Beginning a series of […]

It’s Not Too Late to Recharacterize Your 2017 Roth Conversion

As a result of the Tax Cuts and Jobs Act, signed into law on December 22, 2017, recharacterizations of conversions will soon be a thing of the past. But you have one option left within the next few weeks. You have until October 15, 2018, to recharacterize your 2017 Roth IRA conversion. Previously, you could […]

Beware of ICO and Cryptocurrency Investment Scams

As regulators continue to learn more about the new digital asset class, they are cracking down on scam artists. For instance, in February, the Commodity Futures Trading Commission (CFTC) released a two-page circular warning against virtual currency scams. The CFTC warned investors about sales pitches touting “IRS-approved” or “IRA-approved” cryptocurrency accounts—just in time for tax […]

The Difference Between IRA Contribution Eligibility and Deductibility

IRA custodians like Kingdom Trust aren’t required to determine whether an IRA contribution can be deducted. Likewise, IRA custodians aren’t responsible for tracking IRA deductions. And while, yes, these areas should be discussed with your tax professional, Kingdom Trust is here to help, too. For starters, we can help IRA holders avoid confusing contribution eligibility […]

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