Losing your 1099 form can feel stressful, especially when tax season is approaching. This form is crucial for reporting income earned as an independent contractor, freelancer, or from other sources outside of a traditional employer. The good news is that if you lose your 1099, there are steps you can take to resolve the situation … Read more
As a new green card holder, filing taxes for the first time can be a daunting task. If you’ve recently obtained permanent residency in the U.S., you’ll likely have several questions about how to file taxes as a green card holder. Whether you’re unsure about which forms to fill out or which income sources to … Read more
Navigating Instacart 1099 taxes can be a daunting task for gig workers, but understanding the process is essential for avoiding penalties and maximizing your earnings. As an independent contractor for Instacart, you are responsible for reporting your income and paying self-employment taxes, which include Social Security and Medicare contributions. The Instacart 1099-NEC form is issued … Read more
In Indiana, the question of whether a new employer can ask about your previous salary remains a significant topic as pay equity advocates push for legislative reform. Unlike many states that have enacted salary history bans to prevent employers from requesting or relying on past compensation information during the hiring process, Indiana currently has no … Read more
Understanding what you can do with money in a Virginia 529 account opens up numerous possibilities for educational funding and tax-advantaged savings, as these versatile investment vehicles offer flexible options for covering qualified education expenses while providing significant tax benefits for Virginia residents. The Virginia 529 savings plan, one of the nation’s largest college savings … Read more
In Vermont, the question of whether employers must pay out accrued paid time off (PTO) upon termination is a nuanced one. So, Does Vermont Require You to Pay Out PTO After Termination?”. Our article will clarify the legal framework surrounding PTO payouts in the state, highlighting that Vermont does not mandate employers to compensate employees … Read more
Employment Practices Liability Insurance (EPLI) is a crucial form of coverage that protects businesses from the financial repercussions of claims made by employees regarding wrongful acts in the workplace. In today’s litigious environment, where employees are increasingly aware of their rights, having EPLI is more important than ever. This insurance covers a wide range of … Read more
A Safe Harbor 401(k) is a type of retirement savings plan designed to simplify compliance with IRS nondiscrimination rules while offering significant benefits to both employers and employees. Unlike traditional 401(k) plans, a Safe Harbor plan requires employers to make mandatory contributions to employees’ accounts, which are immediately vested. This eliminates the need for time-consuming … Read more
When discussing tariffs, a critical question arises: Who pays for tariffs, and how do they affect the economy? Tariffs are taxes imposed by governments on imported goods, typically paid by importers when the goods cross national borders. However, the financial burden of these taxes often extends far beyond the initial payer. While governments collect revenue … Read more
As streaming services have surged in popularity, many individuals and businesses are left wondering, “Can I claim streaming services on tax?” This question is particularly relevant for professionals who utilize these platforms for work-related purposes, such as content creators, educators, and media professionals. The answer is nuanced and depends on several factors, including the nature … Read more