Tag: IRS

The Truth Behind These Common Tax Myths

Ed note: There are a few persistent tax myths that pop up year after year. Here’s the unfortunate truth about some of these misconceptions. Leer en español. Myth #1: Being Unemployed Means Not Paying Taxes Any unemployment benefits you receive from local, state or federal government entities are considered to be income and must be reported […]

Un nuevo formulario por conocer: 1095-A [Infografía]

Se ha dicho antes, pero la Ley de Asistencia Asequible es el mayor cambio en el código de impuestos en 20 años. Parte de ese cambio significa que también existen nuevos formularios de impuestos que necesitas conocer. Si recibiste cobertura de un seguro de saluda a través del Mercado, querrás saber sobre el formulario 1095-A. […]

What Does It Really Mean to be Audited?

Ed note: We’re all afraid of something. Heights. Snakes. Whatever. But around tax time, you’ll find a lot of people very scared about the possibility of being audited. In that case, here’s some reassuring news for you. Leer en español. Most people think of the word “audit” as one of the worst five letters words […]

¿Qué significa realmente ser auditado?

Nota del editor: Todos tenemos miedo a algo. La altura, las serpientes, lo que sea. Pero cuando llega la temporada de impuestos, encontraremos a muchas personas que están muy asustadas por la posibilidad de ser auditadas. En ese caso, tenemos noticias reconfortantes. Read in English. La mayoría de las personas cree que la palabra “auditoría” […]

New Tax Form Coming: The 1095-A [INFOGRAPHIC]

It’s been said before, but the Affordable Care Act is the largest change to the tax code in 20 years. Part of that change means that there are entirely new tax forms you may need to know about. If you received health insurance coverage through a Marketplace, you’ll want to know about the 1095-A. Our […]

A Party for Prohibition’s Repeal [INFOGRAPHIC]

December 5, 1933 was a happy day for holiday revelers who wanted to enjoy some mulled wine with their Christmas meal or bubbly on New Year’s Eve. That’s the day that the 18th Amendment – Prohibition – was repealed. In honor of the day, we take a look back at its history and how the […]

5 Small Business Tax Myths

Ed note: There are a few pervasive myths around taxes if you work for yourself or have a side business. Namely, supposed deductions that can’t actually be deducted. Don’t get caught making one of these mistakes next year! Leer en español. 1. Personal Care and Clothing Expenses as Deductions No matter how polished and well […]

5 mitos sobre los impuestos en las pequeñas empresas

Nota del editor: Hay algunos mitos generalizados respecto a los impuestos si trabajas por cuenta propia o tienes un negocio secundario. Por ejemplo, supuestas deducciones que en realidad no se pueden deducir. ¡No cometas uno de estos errores el próximo año! Read in English. 1. Gastos en cuidado personal y ropa como deducciones No importa […]

Five Important Tax Implications of Starting Your Own Business

Ed note: There’s a perception that owning your own business means you get all kinds of tax write-offs. To be sure, there are some tax benefits that are available to you. However, there are also a number of new tax complexities that you must account for. We detail a few of the most important changes […]

How Are Direct Sellers Taxed

Ed note: Do you work at home as an independent distributor for a multilevel marketing company? If you do, you probably understood that sentence. If you’re thinking of being a direct seller of some of your favorite products – maybe it’s Origami Owl, Usborne books or It Works! – then we have some information about […]