Summer Life Events and Taxes – Did You Know? (2/2)
People often make life changes during the summer, both short-term and long-term. Many of these changes may require adjustments to your tax planning, and some
People often make life changes during the summer, both short-term and long-term. Many of these changes may require adjustments to your tax planning, and some
People often make life changes during the summer, both short-term and long-term. Many of these changes may require adjustments to your tax planning, and some
If you are an eligible educator, you may deduct up to $300 from trade or business expenses. Joint return filers who are both educators may
Recent years have seen a rise in the number of people pursuing “side hustles,” such as delivery driving, dog walking and online craft selling. Many
The IRS estimates that 1.5 million Americans are entitled to 2019 federal tax refunds that they have not claimed. The deadline to still file a
Scammers constantly develop new ways to impersonate the IRS and steal the money and/or identities of taxpayers. Most often, these scams come in the form
If you have business income, including earnings from self-employment activities like freelance, independent contract or gig economy work, you may be able to deduct business
State income tax due dates typically follow the federal deadline, but some exceptions exist. Residents of Virginia, for example, typically get until May 1 to
Americans of all ages with summer income from self-employment may need to pay estimated tax on a quarterly basis in order to avoid IRS penalties.
Students and other people who earn summer income, including gig economy and other self-employment income, should prepare now for potential federal tax obligations. They may
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