Are you wondering if you need to pay income Taxes on Cancellation of Debt Income, then you are at the right place. We will explain you Cancellation of Debt Income(COD) and also provide you few exceptions that can be used to avoid paying income tax on the 1099C income Legally. What is Cancellation of Debt…
Category: Finance
How to Withdraw Early From a 401(k) (A Must Read!!)
In 2021, the average 401(k) balance was $129,157. While this is an increase from the previous year, it’s in no way enough money for retirement. When viewing the money in your account, it can be tempting to want to withdraw and spend it. However, you should only consider an early withdrawal if it’s absolutely necessary and under specific…
Does TradeStation Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using TradeStation online or TradeStation App to trade stocks, you may be wondering – Does TradeStation report to the IRS? The answer is…Yes. Keep reading for more information on how TradeStation reports taxes…
Does M1 Finance Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using M1 Finance online or M1 Finance App to trade stocks, you may be wondering – Does M1 Finance report to the IRS? The answer is…Yes. Keep reading for more information on how…
Does Webull Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using Webull online or Webull App to trade stocks, you may be wondering – Does Webull report to the IRS? The answer is…Yes. Keep reading for more information on how Webull reports taxes…
Does Vanguard Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using Vanguard online or Vanguard App to trade stocks, you may be wondering – does Vanguard report to the IRS? The answer is…Yes. Keep reading for more information on how Vanguard reports taxes…
Does Fidelity Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using Fidelity online or Fidelity App to trade stocks, you may be wondering – does Fidelity report to the IRS? The answer is…Yes. Keep reading for more information on how Fidelity reports taxes…
IRS Tax Levy vs. IRS Tax Lien (in Real Estate)
Did you know that the Internal Revenue Service (IRS) can take action against you if you don’t pay your taxes? There are two main ways that the IRS can recover what you owe them: a Tax levy and a Tax Lien. Both can have serious financial consequences, so it’s important to understand the difference between…
How to Open a Bank Account Online? (Ultimate Guide)
Covid 19 has forced all industries to adapt and many sectors such as banking has been forced to adapt new ways to serve its customers. Before Covid 19, you were forced to go in the bank and show your identity i.e. Drivers License, State ID or your passport if you wanted to open your bank…
Why Does the Stock Market Close? (Ultimate Guide)
Have you ever wondered why the stock market closes at certain times? It’s a question that may have crossed your mind, especially if you’ve been watching the markets swing up and down in recent years. While there’s no one answer that covers everything, this post will give you a detailed insight into why the markets…