Latest updates
BLOGS
FORM 1040
The IRS makes drastic to subtle changes to the 1040, every year. There are quite a few changes that were made to the 2022 Form 1040
Reporting Rules Changed For Form 1099-K
The contribution limit for employees who participate in 401(k), 403(b)
Form1099-C means if you have more than $600 of taxable
SCHEDULE D
The sale or exchange of a capital asset is reported on Schedule D as Capital Gain transaction.
Health Savings Accounts
A Health Savings Account (HSA) is a custodial or tax-exempt trust account created for or by individuals
Schedule C is an important tax form for sole proprietors
Schedule E – Supplemental Income and Loss is a form used by the Internal Revenue Service
SCHEDULE H
If you hire people to do work around your house on a regular basis, they might be considered household employees.
FARM INCOME
If you are a farmer and your farming business is a sole proprietorship, you must file Schedule F (entitled “Profit or Loss from Farming”)
FORM 2555:Foreign Earned Income Exclision
Form 2555 is intended for reporting foreign earned income to the IRS. Form 2555 helps taxpayers determine their exclusions relating to foreign
FORM 1099-R
1099-R is the Internal Revenue Service Tax From .It is use to report retirement benefits such as pension. A pension is a type of retirement plan that provides monthly income.
A government agency issues Form 1099-G to inform you of funds received
1099 MISC 1099 NEC
1099 MISC was partially replaced by 1099 NEC but still in use. It’s now used as all other types of income, independent contracts payments in this form now reported payments.
1099 Dividend
1099 Div is a document financial institutions use to report dividends and distributions to both the investor (that’s you) and the IRS. When you own dividend-paying stocks .
