Allan Rolnick's (taxcoach) Blog

   2024 has been a great year for investors in cryptocurrency, with Bitcoin reaching all-time highs. With high profits can come high taxes. Fortunately, there are several strategies you can employ before year-end to reduce your 2024 crypto taxes. If you invested only in Bitcoin, you may not have ...

   2024 has been a great year for investors in cryptocurrency, with Bitcoin reaching all-time highs. With high profits can come high taxes. Fortunately, there are several strategies you can employ before year-end to reduce your 2024 crypto taxes. If you invested only in Bitcoin, you may not have ...

   2024 has been a great year for investors in cryptocurrency, with Bitcoin reaching all-time highs. With high profits can come high taxes. Fortunately, there are several strategies you can employ before year-end to reduce your 2024 crypto taxes. If you invested only in Bitcoin, you may not have ...

If you owe the IRS and can’t pay your tax debt all at once, there is a solution that can help you manage payments over time. This option is called an Installment Agreement, and it provides taxpayers a structured way to resolve their debt without risking aggressive collection actions. Let’s explor...

  Allan Rolnick Tax Accountant | Tax Advisory, Tax Planning, Tax Resolution Tax Audit Representation November 5, 2024 Receiving a notice from the IRS can be unsettling. Whether it's about unpaid taxes, an audit, or missing information, it’s a letter that nobody wants. However, ignoring the notice...

 What is an Offer in Compromise (OIC) and Who Can Qualify?Allan RolnickOctober 25, 2024 If you owe the IRS more than you can afford to pay, there may be a way to settle your tax debt for less than the full amount owed. This option is called an Offer in Compromise (OIC), and it can provide a fresh...

The 3 Worst Things You Can Do if You Owe the IRS Allan RolnickTax Accountant | Tax Advisory, Tax Planning, Tax ResolutionOctober 23, 2024Owing money to the IRS is stressful, and it’s easy to panic or make the wrong moves. Unfortunately, some actions (or inactions) can make the situation much wors...

A Partial Payment Installment Agreement (PPIA) is a payment plan offered by the IRS that allows taxpayers to pay off their tax debt in smaller, more manageable amounts over time. Unlike a standard installment agreement, where you pay the full amount owed, a PPIA allows you to settle your debt for...

4th Quarter Tax Play: Are You Ready? 🏈Ah, New York football fans… it’s been a rough season so far, hasn’t it? Our NYC teams might be losing ground, but luckily, there’s still hope upstate. Speaking of 4th quarters, we’re in the final quarter of the tax year too—and just like football, this is whe...

Has an IRS letter been keeping you up at night?If so, you're in the right place. I understand how stressful and intimidating those letters can be, but with my help, you can breathe easier and get back to a good night's sleep.I host a live Q&A every Monday at 11:00 AM ET where you can ask your que...