As a craftsperson, you may also sell your work at local fairs and markets or even on your own website. It’s essential to keep good records of all your sales on and off Etsy. You must include revenue from all sales when reporting your total business income, regardless of whether you r...
community-building, the thrill of the trade – there is one downside that you might not have anticipated. Taxes. That’s right, goods and services received in a barter transaction have to be reported as income with the IRS. Just when you...
These dividends will be reported on a 1099-DIV, which you should receive in the mail before the annual tax filing deadline. This form will detail the type of dividends you earned from the REIT, either ordinary income or capital gains as well as the amount earned. The IRS requires you to...
Adjusted gross income or AGI is your total income minus deductions you're eligible to take or "adjustments to income," as the IRS calls them. Gross income includes wages, dividends, capital gains, retirement income, and rents. Deductions might include self-employed health insurance premiums, stud...
Did you make a mistake on your tax return or realize you missed out on a valuable tax deduction or credit? You can file an amended tax return to make the correction. Filing an amended tax return with the IRS is a straightforward process. This article inc
A new Revenue Ruling explains how employers that provide workers with disability coverage can add a feature that turns what is normally fully taxable income received under a disability policy into tax-free income. Amounts received by an employee through accident or health insurance for personal ...
Annuities offer guaranteed income and tax-deferred growth, but downsides may include high fees and opportunity costs. Kate StalterDec. 4, 2024 Where to Retire on $2K per Month In these six overseas destinations, a retiree can live comfortably on a budget of $2,000 per month. ...
The goal of unemployment income is to provide a social safety net to those individuals who have become unemployed while looking for a new job. Typically, unemployment is treated as ordinary income for tax purposes and must be reported to the IRS. ...
According to the IRS, capital gains and losses must be reported on your federal income tax return. This includes gains and losses from sales of stocks, bonds, and other investments, including property. You will need to know the cost basis of your investments (what you paid for them, includi...
Jessica WalrackDec. 16, 2024 The Cheapest Ways to Ship Packages These are the carriers that typically offer the best service and the lowest rates. Maryalene LaPonsieDec. 13, 2024 How to Prevent Porch Pirate Thefts The holidays create a prime opportunity for package theft. Here are five ways...