fbpx

TL;DR Accounting Blog

How Do Health Savings Accounts (HSAs) Work?

How Do Health Savings Accounts (HSAs) Work?

https://youtu.be/BkLqM2xJp8A Employers have many options of providing health coverage for employees, one of which is a Health Savings Account. Health Savings Accounts, or HSAs, are intended to supplement a group health plan. A “group health plan” is the kind of traditional health plan with which we’re all familiar: monthly premiums, deductibles, copays, coinsurance, out-of-pocket maximums, and all the other ingredients you see in these kinds of plans. In general, the purpose of an HSA is to help employees pay for medical expenses by providing them a tax-advantaged way to save their own money in an account specifically made for medical…
Read More
Cryptocurrencies & Taxes: Bitcoin, Ethereum, and Litecoin

Cryptocurrencies & Taxes: Bitcoin, Ethereum, and Litecoin

You may have heard of Bitcoin, Ethereum, and Litecoin, but have you heard of Dogecoin, PotCoin, and Cthulhu Offerings? These are all cryptocurrencies, or digital currencies that use blockchain technology to track the total history of every transaction in that currency. If you own or are considering purchasing cryptocurrencies, you might wonder if we have any experience with them, along with how to account for the taxes on them. The short answer is: yes, we do! Stay tuned for the long answer below. https://youtu.be/4k57bMWpR1Q Questions We’ll Ask You We’re going to use the term “coin” interchangeably with “cryptocurrency” for the…
Read More
Restricted Stock Units (2020 Update)

Restricted Stock Units (2020 Update)

Are you familiar with RSUs, or Restricted Stock Units? We know the term is intimidating, but we have experience dealing with RSUs, and we can help you deal with them, too. Let’s get into what RSUs are. https://youtu.be/2KtrIJy_MY4 What Are Restricted Stock Units? RSUs are a way to compensate employees. It’s a method that’s used very frequently in the tech industry. An employee is given stock grants that vest on a set schedule. On the vesting date, the employee receives the right to the stock, at which time it is taxed and included in the employee’s compensation. Now, something weird…
Read More