What is an Income Statement?

What is an Income Statement

An income statement is one of the three important financial statements used for reporting a company’s financial performance over a specific accounting period, with the other two key statements being the balance sheet and the statement…

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Are You Subject to Self-Employment Tax?

Article Highlights: Self-employed Individuals Estimated Taxes Self-Employment Tax Estimated Tax Safe Harbors 1099-MISC and 1099-K Others Subject to Self-employment Tax income Not Subject to Self-employment Tax Self-employed individuals, unlike employees,…

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Household Help: Employee or Contractor?

Article Highlights: Household Employee Definition Employee Control Factors Self-employed or Employee Withholding Requirements Reporting Requirements Taxpayers often will hire an individual or firm to provide services at the taxpayer’s home.…

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