10 Tax Surprises to Watch Out For, Ep #163

If you recently filed your tax return you may have noticed some unexpected surprises. Video recap: https://youtu.be/G9q8k5fRNdQ Since tax planning and preparation is an important part of what we do at Financial Symmetry, we wanted to make you all aware of the top 10 tax surprises that we see in our office. Listen in to hear if you are familiar with any of these tax prep surprises.  Outline of This Episode [2:58] Inheritances [6:55] Credit card reward points [7:56] Advanced child tax credit [10:30] Cryptocurrencies and NFTs [13:20] 1099K through Venmo or other cash apps [14:58] Underwithholding on W4s [16:39] It got lost in the mail [18:38] Double taxation on backdoor Roth [22:18] What to do if you receive a K1 Resources & People Mentioned Episode 95 - The Dreaded IRS Letter: Dealing with a CP2000 Connect With Chad and Allison https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play