Tax Problems
Getting Married: What Newlyweds Need to Know Regarding Taxes
Taxes might be the last thing on your mind on your wedding day, but tying the knot can have a big impact on your tax situation. Here are some of the most important things you should know. Marriage tax penalty or marriage bonus? Maybe you’ve heard of the so-called marriage tax penalty: a quirk in the…
Read MoreIf You Have a Side Hustle, Be Advised: The IRS is Cracking Down
Article Highlights: Form 1099-K Reporting Threshold Marketplaces Payment Processors (credit and debit cards) Online Service Providers Airbnb and VRBO Delivery and Other Personal Services Business Expenses Record Keeping For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit cards), and third-party settlement organizations (TPSOs) to…
Read MoreWhat You Need to Know About the People First Initiative
The global COVID-19 pandemic has presented significant challenges for American citizens from both the health and financial perspectives. Many individuals are looking for ways to reduce the financial impact of layoffs or furloughs they have experienced as a result of the shutdown in the economy. In an effort to relieve some of this burden, the Internal…
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