Do you dread when tax season comes around? It could take you many hours and even days if you decide to prepare your taxes yourself, as it depends on how you file and what files you’re using. According to the IRS, it can take about 13 hours for the average taxpayer to do their return,…
Category: Taxes
Is Insurance Payout Taxable?
Insurance payouts can help keep us afloat in the worst of circumstances. Whether you’ve had an accident on the job, or somebody dinged your ride on the road, the claimable funds help put things right again — or as close to “right” as is possible! But you’re not alone if you don’t really think about…
How Is K 1 Income Taxed?
There’s a lot to keep track of when it comes to tax season, including terms that you might not understand very well. The Schedule K-1 is one of these forms that comes with a lot of confusing terminology. Dedicated to assessing the income and losses of a pass-through entity, a Schedule K-1 can be tricky…
Is Capital Gains Tax Going To Increase?
Investing and saving is something that people are doing more of now. Considering the way of the world, just having a 9 to 5 job is not enough anymore, so more people are turning to alternative methods to use their spare change effectively. However, before, the tax that came with things such as capital gains…
Do Day Traders Pay Taxes?
For a lot of new investors, they see day trading as a great way to earn funds and money really quickly. The concept behind it is to make trades over a short period of time, then you can take full advantage of the short term price changes and make a profit at the same time….
Can I Get a Stimulus Check if I Owe Taxes?
For many Americans, stimulus checks have been a saving grace. In times of trouble and financial hardship, these payments have helped keep millions of Americans afloat, and they’ve also helped boost economic activity and growth to keep the country ticking over. Unfortunately, not everyone is eligible for a stimulus check. If you’ve got outstanding taxes…
Can An Illegal Immigrant Get A Tax ID Number?
There is a huge misconception that illegal immigrants who are working and earning money in America don’t have to pay any taxes on the wages they earn, as they don’t have a social security number. However, this isn’t true at all, as they still have an obligation to pay taxes just like everyone else. Illegal…
How To File An Amended Tax Return
Have you made mistakes in your tax return, and you are worried about how to fix it? Have you realized that you filled something out wrong, and you need to correct it? Have you noticed that you have missed a credit or tax deduction and want to make sure to include it? In all of…
Can I Get A Tax Refund With A 1099?
The business of filling out and filing taxes can be a complicated process, with lots of factors to tie into it. It can often be difficult just making sure that you pay the correct amount of tax and avoid any penalties. However, sometimes a person will get a tax refund, which is when they have…
Are Signing Bonuses Taxed?
If you are considering moving companies, and someone is offering what sounds like a very generous and lucrative offer, before you go ahead and jump ship, it’s important to consider how much of that signing bonus is actually available for you to spend. And that is the focus of this article, which will also answer…
