Receiving that dreadful letter from the IRS can be quite scary. This article will provide you with some helpful tips. Oh no! You need tax audit advice. You just received in the mail a notification that you are going to be audited by the IRS. What now? How do you respond to this and should… Continue reading Need Tax Audit Advice?
Welcome to the topic Income Tax Law Changes 2022: What You Need to Know. Changes have been made to the laws regarding Income Taxes, which will be effective from the year 2022. In this post, we’ll give you a run-down of what you need to know about all these changes and how they may affect… Continue reading Income Tax Law Changes 2022: What You Need To Know
Many people don’t even realize that the 1099-C Cancellation of Debt form exits. So, it can be a surprise to receive one. Let’s discuss briefly at Form 1099-C, what you should do when you acquire a 1099-C and how you can find whether your debt is kept out of debt agreement taxes. What is a 1099-C form?… Continue reading Everything to know about 1099-C Cancellation of Debt
Form 1099-DIV-Dividends Distribution If an individual pays dividend, then a form 1099-DIV is processed that refers to an important record of it. It is possible to receive one or more 1099 DIV Forms in February online. The data that the form contains is significant as it plays an important role in your life related to the tax. Financial… Continue reading Everything To Know About Form 1099-DIV-Dividends Distribution
Everything To Know About Self Employment Taxes A person is known as Self-employed if he is in a business or a member of a partnership related to business or trade. The major responsibility of a self-employed person includes paying the estimated tax quarterly and filing an annual return. When we see the term self-employment tax, it only… Continue reading Everything To Know About Self-Employment Taxes
Interest income-1099-INT is a 1099-INT tax form. It is an official record that a person or a company has paid the interest within the tax year. In most cases, you will receive a form in February. The 1099-INT tax form is received via mail. You should not ignore the form as it will greatly impact your… Continue reading Everything to Know About Interest Income-1099-INT
Many people don’t even realize that the 1099-C Cancellation of Debt form exits. So, it can be a surprise to receive one. Let’s discuss briefly at Form 1099-C, what you should do when you acquire a 1099-C and how you can find whether your debt is kept out of debt agreement taxes. What is a 1099-C Form?… Continue reading Everything to know About Form 1099-C Cancellation of Debt
A Form 1099-K is issued for plenty of reasons. For instance, if you sell goods on eBay, you might get a firm 1099-K. The payment settlement entity sends this form in a mail. The major work of the payment settlement entity is to file the form and transfer its copy to you. For this purpose, you must… Continue reading Everything to Know About Form 1099-K
Reporting the unemployment compensation comes under the primarily uses of the 1099-G Form. It also covers reporting the income tax refunds of a specific state. It is compulsory to report the information that the 1099-G Form requires about the tax return on receiving the Form for the current year. for this purpose, you may receive a 1099-G form… Continue reading What You Need to Know About Unemployment Form 1099-G
Hell hath no fury like a person who just found out the alternative minimum tax applies to them. The IRS has set up an online tool to figure out if you do. Alternative Minimum Tax The alternative minimum tax is a procedure that was set up to keep the richest of Americans from avoiding tax… Continue reading Alternative Minimum Tax – Online Tool
Too Busy For Your Taxes Welcome to the topic Deciding When to File a Tax Return. When To File? April 15th – “The Day of Reckoning”! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the… Continue reading Deciding when to file your Tax Return?
Welcome to the topic Depreciate Property Improvement Correctly With Cost Segregation. Most commercial building owners are grossly overpaying federal income taxes because they are not depreciating their property as quickly as they should. A cost segregation study allows property owners to both defer and reduce federal income taxes. When properly performed by an appraiser with… Continue reading Depreciate Property Improvements Correctly With Cost Segregation