Tag: taxes

What is Form 1099-K, and Why Did I Get One?

Ed note: We’ve talked a lot about the brand new 1095-A form that many people are getting this year. However, we’ve also gotten a lot of questions about the 1099-K. This isn’t a new form, but it is one that is showing up in more and more mailboxes as the way we do business changes. […]

When Do Non-Citizens Pay U.S. Taxes? [INFOGRAPHIC]

If someone isn’t a U.S. citizen, they may be classified in three different ways under immigration law: An immigrant A nonimmigrant An undocumented immigrant But when it comes to tax time, the IRS is only concerned about whether they are a resident alien or nonresident alien. Resident aliens are taxed in the same manner as […]

What IRA is Right For You?

Ed note: An Individual Retirement Account is one option to save money over time. However, you might not know that there are different kinds of IRAs, with different benefits. Let’s look at which one might be the best for you. IRAs are tax-advantaged retirement savings accounts in which people who have earned income in a […]

Tax Question, Answered: Trucking Deductions

Ed note: Our experts at the Tax Institute answer questions from clients and other tax professionals all day long during tax season. They were the perfect people to turn to for information on a topic that frequently comes up from our clients on Facebook – what tax benefits exist for truckers? Question: I’m a truck […]

PPACA Compliance and Shared Responsibility for American Expats

Ed note: American expats may not be giving the Affordable Care Act a second thought, but don’t be so quick to dismiss it. If you don’t meet one of several requirements, you may still face a penalty on this – or future – tax returns. With the tax season now in full swing, many expats […]

Making the Most of Paying Taxes

Ed note: If you owe back taxes to the federal government, you hopefully know that the IRS offers several options when it comes to paying them. Here, we’ll dig into paying back taxes with a credit card with Jason Steele. It may surprise you to learn that there are some benefits to using this method. […]

How Can you Pay, if you Owe Back Taxes

Ed note: If you finished preparing your tax return only to discover that you OWE the government a large sum of money you might be upset or worried about how to pay the amount. You need to know that there are options available to you. Mike Slack, from The Tax Institute, explains. Leer en español. The […]

Taxing Police Officer Off-Duty Security Income

Ed note: We are always talking to the Tax Institute about the most common tax questions they get. This one is toward the top of the list. Many law enforcement officers choose to provide security services to private businesses while they are off-duty. The question that often arises is how is this type of income […]

It’s Not Personal, It’s Business! Why You Need Separate Finances

Ed note: Financial management can be a pain when it comes to just your personal accounts. Now imagine mixing up your business expenses with your every day spending. It’s a recipe for a headache, especially at tax time. Here are some of the most important reasons you need to set up separate systems for success. […]

Traveling for Business? The Dos and Don’ts of Business Expense Deductions

Ed note: We often hear about the elusive tax-deductible vacation, but it often sounds too good to be true. The good news – a lot of travel is deductible, as long as you’re doing a lot of work while traveling. The Tax Institute is here to explain. Leer en español. When you are traveling away […]