Ten IRS Audit Red Flags for Self-Employed Individuals
Being in business for yourself can be exciting, lucrative, and a great way to draw the attention of the IRS's audit division.
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IRS: 5 MUST-HAVE requirements for your income tax return
The IRS has outlined key requirements to help you file your 2024 tax return accurately to avoid common mistakes and maximize ...
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There Are 22 Types of 1099 Tax Forms. Here's How to Know Which Ones You'll Get
It's tax season, and if you've received an unfamiliar income form this year, it might be a 1099 tax form. A 1099 form is used ...
What The IRS’s 1099-K Changes Mean For Small Businesses
Last year, the Internal Revenue Service announced a phased rollout of reporting requirements for businesses who receive at ...
1099-K tax rules: What to know if you get paid via Venmo or PayPal
The Form 1099-K is meant to report income from payment apps (like Venmo or Paypal), as well as from online marketplaces or ...
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Income Tax Return Filing Guide for Proprietors in the USA
Proprietors must file Form 1040, which is the standard form for the income tax returns. 3. File Schedule C: Attach Schedule C (Form 1040), which reports business incomes and expenses. 4. File Schedule ...
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Guide to understand the new 1099-K Tax reporting requirements for freelancers and business owners
If you're earning income through platforms like PayPal, Venmo, or Cash App, it's crucial to understand the new tax reporting ...