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“4 Essential Tips: Should You File a Tax Amendment After Your Refund?” Introduction Discover the ins and outs of filing a tax amendment, even after receiving your refund. Overview Ever filed your taxes, gotten your refund, and then discovered a mistake? It happens to the best of us! But should you amend your tax return […]
Can You File Taxes Without Your 1099-NEC? Missing 1099-NEC? If you are a freelancer, contractor, or self-employed worker, you may have received a form called 1099-NEC from your clients or payers. This form reports the non-employee compensation that you earned during the year. You need this information to report your income and pay taxes on […]
How to Save Money on Taxes with an LLC vs 1099 Are you a freelancer or a small business owner looking for ways to reduce your tax liability? If so, you might be wondering whether you should operate as an LLC or a 1099 contractor. In this blog post, we will compare the tax benefits […]
Form 1095-A: What You Need to Know Are you one of the millions of Americans who have received Form 1095-A in the mail and wondering what to do with it? This form is essential when it comes to filing your taxes and can have an impact on your tax liability. In this article, we will explain […]
What if I Don’t Have My W-2? A Complete Guide for Taxpayers Don’t have your W-2? Learn what to do if you’ve lost or never received your W-2 form, including how to request a duplicate, how to estimate your taxes and more. Summary It is essential for taxpayers to have a copy of their W-2 […]
What’s a 1099-K and what is the income threshold? The 1099-K form reports income received through third-party digital payment methods like: If you received a 1099-K for your digital payments, you would need to report this income on your tax return. You do not have to report nonbusiness income like exchanges between friends or family, […]
Understanding T777: Statement of Employment Expenses Learn more about Form T777, why it’s needed, and what your employees (and you) need to do to complete it. As you might already know, some employees need to pay for their own expenses to fulfill their job responsibilities—but for many of them, this arrangement isn’t ideal. The government […]
1099-G Tax Form – Information you need for income tax filing General Information The Statement for Recipients of Certain Government Payments (1099-G) tax forms are now available for New Yorkers who received unemployment benefits in calendar year 2020. This tax form provides the total amount of money you were paid in benefits from NYS DOL in 2020, as […]
Form 1099-MISC is used to report miscellaneous payments made to nonemployees, such as independent contractors. Read more to find out how this affects you, the small business owner. If you’re starting to work as an independent contractor or freelancer, you’ve likely heard people refer to Form 1099. A 1099 isn’t just one form, but actually […]
Although you don’t need to know much about tax forms with TurboTax on your side, it’s always best to organize your forms that when you sit down to do your taxes. Many people are familiar with W-2s, but they may not be aware that other financial documents… Full Story [WooZoneProducts asin=”1589797981″][/WooZoneProducts]