Both the Form W-2 and Form 1099 serve a similar purpose—to report income you earned from sources throughout the tax year—but each is issued under different circumstances and requires slightly different approaches for tax season planning. Here are some tips to decode these two form...
While electronic filing did eliminate the cardinal use of paper go-betweens, the need for individual tax return forms did not disappear, but rather, it evolved. Although Forms 1040EZ and 1040A are relics of the past, the need for forms, such as the 1040 and 1040-SR, persists. Video of...
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Annual tax season is inevitable, and you must decide whether you want to take the do-it-yourself approach, hire someone to prepare your tax return for you, or do something in between. If you choose to file your taxes on your own, H&R Block, TurboTax, and Jackson Hewitt are among som...
Although you still enjoy the liquidity of an ETF (they are listed on exchanges and can be traded whenever the market is open), you won’t be receiving a 1099 at the end of the old tax year. Instead, you’ll receive a K-1. But because K-1s aren’t distributed until mid-March, ma...
Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions Unemployment income reported on a 1099-G...
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