what is a 1099-c form

Having a credit account in default is never fun. You’ll have to survive debt collectors, negative marks on your credit score, and a ton of stress. If your creditor forgives or cancels your debt, you can set out on the path to recovery, but it’s important to understand the tax implications. For that, you’ll need […]

In the land between an employee and an incorporated business lives the independent contractor. An independent contractor acts mu9ch like a business owner but don’t meet all the “formalities” that come with being a business. Sometimes called a 1099 employee, here’s a closer look at 1099s, independent contracting, and what it means for tax time. […]

tax dates due

Learn all the dates you need to know for 2020 tax prep. Ah, tax time. It may not be your favorite time of year, but it’s a necessary evil. And being properly prepared can be the difference between a stressful, exhausting tax season and an efficient, effortless one. Want to be ready for the upcoming […]

ULTIMATE LIST OF TAX DEDUCTIONS AND CREDITS

Tax season can be very stressful. Not only do you have to meet deadlines to avoid costly penalties, but you also have to keep up with the latest changes to tax laws. Well, we’ve got good news: we’re here to make the process easier. Here is a definitive guide to tax deductions and credits for […]

IRS Tax 4868

Is tax day fast approaching, but you’re still waiting for your employer to send you some crucial paperwork? Or maybe you’re dealing with a medical emergency which would make it hard for you to file your taxes. Whatever your reason, there’s a solution. When tax season comes too soon, there’s no need to default on […]

irs tax form 1095-a

Did you receive an IRS Form 1095-A? If so, you may be wondering what it is and why you need it. IRS form 1095-A (a subcategory of Form 1095) is a Health Insurance Statement provided by the Marketplace. If you signed up for health insurance through the Health Insurance Marketplace, you should receive a 1095-A […]

IRS Tax Relief Report

The IRS has just announced it is waiving the estimated IRS underpayment penalty for millions of taxpayers who fell short this year. It’s not every day the IRS decides to give millions of taxpayers a break, so savor the moment. Now let’s break down what this means for the average taxpayer. The IRS charges a […]

CPA vs accountants

CPAs vs. Accountants, that is the dilemma. When searching for a professional to prepare your taxes, the difference between an accountant and a CPA can be puzzling. Simply put, all CPAs are accountants, but not all accountants are CPAs. Certified Public Accountants (CPAs) have to pass the CPA exam and meet certain state and education licensing requirements, […]

capital gains and taxes

Did you receive a Schedule D (Form 1040) in the mail this tax season? If so, you must have sold assets in the past year. If you made a profit on your sale, you’ll have to pay taxes on it; and if you lost money, that loss can reduce your tax liability. But regardless of […]