Financial institutions are responsible for sending their clients the Form 1099-B covering the sale of stocks, bonds, and mutual funds. Clients should also be sent their Form 1099-S covering the sale or exchange of real estate. Finally, most qualifying persons should be sent their 1099-MISC by this date.
Deadline to pay the fourth-quarter estimated tax payment for 2022.
The American Opportunity Credit is a credit for post-secondary costs applied to decrease the taxes owed by a student, their spouse, and/or a dependent. The credit is designed to help qualifying low to moderate income persons cover the significant fees related to post-secondary education.
An introduction to the standard and itemized deductions that all taxpayers should know, as well as the established rates for 2022 and 2023.
An introduction to income tax brackets that all taxpayers should know, as well as the established rates for 2022 and 2023.
Don't forget that your 3rd Quarter estimated taxes for the IRS are due on September 30. The previous dates were April 30, 2022 and June 30, 2022. The next deadline is January 31, 2023. It you are not sure how much you owe for estimated taxes, go see if the…
Qualifying medical expenses paid out of pocket can be deducted on taxes for taxpayers who itemize their deductions. With dozens of potential expenses to consider, we offer a starting point in the checklist below. Here, you will find some of the most commonly identified expenses as listed in the IRS Publication 502.
The 1099-K originates in business transactions performed using online payment systems like PayPal. The situation changed for everyone starting January 2022, eliminating a potential tax loophole for small businesses and creating substantial more risk for personal use.
The government recognizes several different tax breaks for students and parents that might save you thousands of dollars. That could add up rather quickly.
In an attempt to extend additional tax breaks for people who contributed to charity during the past year when so many needed the help, the IRS is offering higher than usual tax deductions for some taxpayers.