perks, and prerogatives of being self-employed—from setting your own hours to building customer relations. With the onset of tax season, you face a new business challenge: filing your taxes in a way that minimizes your tax liability. Follow these tips on how to use your Lyft 10...
Uber drivers receiving a 1099-K for the first time often are surprised to see that the income reported is greater than the amount they actually received in payment. That’s because IRS tax rules require Uber to report the full amount the customer paid, including the compan...
has given investors a tremendous opportunity for savings on long-term capital gains and dividends. But the way to take full advantage of these changes is to use tax lots in managing your investment purchases and sales and reporting that income to the Internal Revenue Service (IRS). ...
Learn how to fill out and file 1099-NEC forms for independent contractors and freelancers. This guide provides step-by-step instructions, deadlines, and FAQs.
Completing Step 2 of the Form W-4 is required if you hold more than one job and/or you're married and filing jointly with a spouse who also works. Yourtax withholdingwill depend on all your sources of income. Step 2 directs you to use one of three options to finetune how much shou...
Learn how businesses use tax form 1099 to report payments to independent contractors, and the IRS uses 1099s to track nonemployee compensation.
Learn how businesses use tax form 1099 to report payments to independent contractors, and the IRS uses 1099s to track nonemployee compensation.
Using your W-2 job to lower your quarterly taxes If you have a mix of income sources, including a W-2 job and freelance work, you can use your W-2 job to help lower your quarterly taxes. One way to do this is by increasing your tax withholdings from your W-2 income through a ne...
On their first day of work, new hires usually complete a Form W-4, Employee’s Withholding Certificate, which you will use to deduct the correct amount of federal income tax from their pay. Although not required, your employees should fill out a new form each year if their personal or fi...
They use their own equipment and supplies to complete tasks. They provide services to several different clients who pay them directly for their work. [Read more:What is Tax Form 941, And Who Needs to File It?] Hiring a W-2 employee vs. a 1099 independent contractor ...