The IRS requiring payers to report transactions totaling $600 and over isn’t a new tax law. It has been this way for certain information returns like Forms W-2, 1099-MISC, 1099-NEC, and more. This reporting mandate made an additional sound when the IRS introduced a new bill that requires third-party payment processors like PayPal and Venmo … Read more
In the United States, the Capital Gains Tax is a tax imposed on the profits made when an asset is sold. The most common capital gains are those from selling property, stocks, bonds, and precious metals. Long-term capital gains tax Long-term capital gains are realized when investors sell a capital asset they have owned for … Read more
It’s essential to understand the state income tax rate in Wisconsin. You need to know several things, including the state’s Earned Income Tax Credit, Sales tax rate, and Alternative minimum tax. All of these things can affect your taxes. If you’re not careful, you may owe more than you owe. Individual income tax rates Individual … Read more
Alabama is one of the few states with two free tax holidays, let alone one. While many states don’t have a sales tax holiday, Alabama has two – each covering different types of items. Each year’s first sales tax holiday begins on the last weekend of February for hurricane preparedness items and supplies. The second … Read more
In a world where advertisements are shown down our throats, impulse buying and other habits that ruin people’s finances are becoming more prevalent. If you’re struggling with impulse buying and want to put an end to it, here are a few simple tips that can help you avoid it. Think differently Before purchasing something, take … Read more
IPOs, the initial public offerings, are seen as one of the best ways to invest as they generally offer the lowest price possible of a stock. It’s the ground floor that a company’s stock price starts in most cases and picks up from there. This makes them attractive to many investors, including individual investors that … Read more
With over 42 million Americans currently holding a student loan balance, there are many questions that go around them. From its relation to taxes to pay them back, student loans can easily get confusing, especially with all the misconceptions and wrong answers. Contrary to what some might think, there is a clear connection between student … Read more
The parents of students that are applying for Federal Student Aid are required to submit their tax information. On a paper application, parents can include their tax transcript on their FAFSA. This is done physically by taking a paper copy of the tax transcript and attaching it to their FAFSA forms. While this is one … Read more
Form W-9 is filed by individuals and businesses that are requested with a copy of it. When you get paid, and the payer doesn’t have your tax information, the information returns can’t be filed, therefore, you need to provide it by filling out a W-9. It’s overall a simple tax form that includes only the … Read more
It’s safe to say that the current year hasn’t been so kind to Drudge Report. The biggest news aggregator, mostly followed by conservatives in the United States has already changed the title of the website from to . If you’re expecting Drudge Report to cover news articles about the new year, you wouldn’t be surprised … Read more