IRS Form 8949 is a tax form used primarily to report sales and trade of capital goods. Form 8949 is filed alongside Schedule D of the income tax form.What is IRS Form 8949?Form 8949...
Since preparing your tax return hasn't been intimidating enough, there may be times when you need to amend a pre-filled tax return. While filling out a correct return may seem...
If a creditor acquires your property through foreclosure and evicts you, or if you surrender your property before the eviction, the lender will send you an IRS Form 1099-A Acquisition...
The nation owes a debt of gratitude to veterans, yet sometimes these heroes come back home and pay huge taxes, which places a significant burden on them. This realization led to a...
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...
In filing your federal tax return, you can decide to go through the itemized deduction channel or standard deduction method. Standard deduction involves some values defined by Uncle...
Purchases of new and used commercial vehicles are eligible for tax exemptions per the current tax law. Some vehicles may be eligible for higher deductions than others.The first year...
When a taxpayer cannot pay the tax bill (now or in the future) with future assets and monthly income, they may qualify for the I.R.S. Offer in Compromise program—providing a...
Posted by Flynn Financial Group Inc on 01/23/2021
Being a self-employed, independent contractor, or working for a small business can seem like a dream. However, one downside is that you are unlikely to have access to a workplace pension...