As long as you repay such a loan fully, there is no need for income taxes on a personal loan. However, the forgiveness of any part of the loan or paying the loan for a lesser amount...
Posted by Karen Munoz, EA on 06/06/2021
Does the IRS take a large chunk of your cryptocurrency income? Maybe you traded one cryptocurrency for another at the right time and withdrew a lot of it in dollars, and now you have...
Posted by CORE PERFORMANCE on 05/29/2021
It is safe to call form 1040, the mother of all tax forms, as it is the standard tax form that people will need to report their income to Uncle Sam. In addition, it also comes handy...
For most 401(k) plans, the 401(k) tax only applies to withdrawals. Most 401(k) plans are tax-deferred, meaning no income tax on contributions or earnings, interest, or dividends that...
Many small businesses are slammed with tax penalties for errors that can be avoided. This article will explore these mistakes to keep you from turning out thousands of dollars in penalties...
The COVID-19 pandemic is complicating several people's efforts to file their 2020 taxes ahead of schedule, but the good news is that the Internal Revenue Service (IRS) has been...
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
A tax levy is any collection employed by Uncle Sam and other tax authorities like the state treasury to settle tax debts that people owe.The process involves collecting and seizure...
Paying taxes should be a priority for everyone, no matter the line of business. One of the areas where the government shows incredible seriousness and dexterity is collecting tax debts....