Great and terrible things happened in the year that COVID-19 struck[16], and for those people filing taxes as the owner of a business, or a freelancer working as a contractor, the unprecedented circumstances make for an unprecedented tax season.
Perhaps you spent all of last year working from home as a freelancer and now are contemplating, for the first time in your life, trying to claim the den as a workspace deduction. Perhaps you took up a second source of income in the form of being a Lyft driver and now need to incorporate that ride-sharing income into your other business earnings. Perhaps you had to pay for employees who were suddenly only working part of the time because they were caring for a loved one with the coronavirus.
Perhaps you put half your company's capital into Bitcoin, as a hedge against the chaos of the pandemic. How are you supposed to account for crypto?
For all of these