Author: taxsecretsblog

Article Highlights: Self-Employment Tax Exemptions From Self-Employment Tax Occasional Income Computing the Self-Employment Tax Farm and Non-Farm Optional Methods Foreign Earned Income Self-employment (SE) tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. It is like

As you approach retirement age, the thought of returning to work might be on your mind. Whether you're considering part-time roles or fully immersing yourself back into the workforce, this article is designed to provide insights into the financial aspects of such a decision. We

Some politicians’ dreams of imposing a wealth tax on the richest Americans face a critical juncture as the United States Supreme Court prepares to weigh in on a seemingly minor tax dispute involving a $14,729 tax liability. The case, known as Moore v. United States,

Facebook: Starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300. Article Highlights: Reason for Form 8300 E-File

Just about everyone has an opinion on the healthcare system in the United States. What may Americans don’t realize, however, is that there’s another tangential battle going on when it comes to healthcare facilities themselves. Property tax breaks – specifically for non-profit hospitals and clinics

Article Highlights: 1099-K Reporting. Third-party Settlement Organizations. American Rescue Plan of 2021 Mandated Reporting Threshold. Delayed Implementation 2023 Threshold 2024 Planned Phase-in Threshold Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service has announced a delay of

Article Highlights: New Lower threshold for e-filing information returns Why the e-filing mandate? What is an Information Return? Other affected filings Corrected information returns Noncompliance Penalties Waivers IRS Portal Businesses, whether operating as a corporation, partnership, or a sole proprietorship, have been required to electronically

Year-End Tax Planning Opportunities Are Here Article Highlights: Not Needing to File a 2023 Return? Are Your Children Attending College? Did You Sell Your Home This Year? Do You Have an Employer Health Flexible Spending Account? Did You Become Eligible to Make Health Savings Account

December 2023 Individual Due Dates December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2023. Taxpayers with substantial increases or decreases in income, changes in marital status or dependent status, and

December always seems to fly by. In just a few short weeks, Thanksgiving dinner will be over and it will be time to welcome the New Year. The holiday season brings personal obligations, but for retailers, it's also the busiest time of the year. Even