The coming 1099-K chaos this tax season

Millions of taxpayers will receive 1099-Ks this coming tax season for the first time. These 1099-Ks will report third party payment transactions totaling over $600 in 2022. This includes from PayPal, Zelle, Venmo, eBay, Amazon, Etsy, Discogs, as well as…

Lithium and geothermal in Hell’s Kitchen

Lithium geothermal

The Salton Sea in southern California contains one-third of the world’s lithium supply. It’s an inland saline sea in a baking hot, unforgiving area. The lithium is contained in geothermal liquids, which have been harnessed for decades to create electricity.…

Gambling winnings and taxes

I do taxes in Vegas and see too many people get blindsided by gambling winnings. If you win over certain amounts, the casino sends you (and the IRS) W2-Gs detailing the winnings. But they do not document losses. Which is…