IRS publications are helpful guides the IRS provides to educate taxpayers. There are IRS publications covering nearly every topic, from reporting tip income to filing taxes as a business owner and how extensions work. Looking for answers on key tax topic
On Jan. 11, 2023,the IRS announcedthat California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering the extension to people in areas designated by the Federal...
Estimate your self-employment tax and eliminate any surprises Get started Crypto Calculator Estimate capital gains, losses, and taxes for cryptocurrency sales Get started Self-Employed Tax Deductions Calculator Find deductions as a 1099 contractor, freelancer, creator, or if you have a side gig Get ...
IRS Form 8949: A Crucial Component of Your Tax Return: For the 2023 tax year, IRS Form 8949 is used to report sales and dispositions of capital assets on your tax return. This form is essential for both short-term and long-term transactions. Reporting Capital Gains and Losses Accurately: ...
If it’s your first time through the Q&A, just follow the interview process. On the screen titledWhat kind of income did you have in 2023?, click thecheckboxnext toWorked as an employee (Form W-2). The bottom line Understanding your Form W-2 is a key part of accurate tax filing. ...
Taylor last updated December 12, 2023 in Features If you own real estate, you know your rental income needs to be reported on your federal income tax return. However, you can usually deduct associated expenses from that rental income. But did you know there is a legal way to earn tax-...
Here’s a simplified guide to the different schedules you may use with the 1040 tax form:1. Schedule 1: Additional Income and Adjustments: This schedule is for reporting extra income and certain deductions. Common income types reported here include alimony, unemployment compensation, and business ...
Discusses a one-time tax-law provision that allows investors to shave taxes on future capital gains in the U.S. Creation of the provision by the Taxpayer Relief Act of 1997; How to take advantage of the provision, which created an 18 percent capital-gains tax bracket for property held ...
IRSPolitical Humor,Taxation, taggedHumor,IRS,Political HumorTaxationon April 15, 2023|3 Comments » I shared IRS-themed humor during tax season in2021and2022, so let’s make that a new annual tradition. In honor of this year’s tax-filing season, let’s start with aReasonvideofrom Remy...
Capital Gains Tax on the Sale of Your Primary Residence The California Tax Credit for First-Time Homebuyers How to Fill Out Your W-4 Form IRS Rules for Reporting Car Rental Expenses and Income Can You Claim Your Unborn Baby as a Dependent on Your Tax Return? Federal Withholding: Incom...