Important 1099 Tax Forms for Mutual Funds: Do you know how distributions from mutual funds occur? Usually, distributions from mutual funds occur for several reasons. Moreover, such distributions are subject to different tax rates. As we know, many mutual funds bundle most of the payouts into a single at the end of each year. Getting confused? Don’t worry! We will let you know about the important 1099 tax forms that the mutual funds use. Furthermore, it’s your responsibility to report the transaction from a mutual fund on the tax return. we have provided a clear view about distribution and taxes, …

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Difference between a 1099 and W-2 Form: Have hired an individual to perform work? Does the individual work as a part of your business? As per the IRS rules, if you hire an individual who is not a part of your business but performs work are “Independent contractors”. Getting confused? Which Form 1099 or W-2 to issue? Don’t worry! We provide you with clear information about the 1099 and W-2 Forms. Furthermore, We’ll let you know the importance of identifying a 1099 worker and a W-2 employee. We provide step-by-step guidance in determining an individual as a contractor and an …

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New IRS Rules about Forms 1099 for 2020-21: Have you paid an individual not an employee? Did the payments made to the individual exceed $600? Then you need to issue a 1099 Form to the individual by the year-end. Report the income paid to the individual on the 1099 information return form and submit it to the IRS within the deadline. Doesn’t know much about Form 1099? We will let you know about the new IRS rules for the tax year 2020-22 about issuing 1099 Tax Forms. Furthermore, we provide you with information about how the revised tax form looks …

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1099 contractor taxes: Are you working as a contractor for the past few years? Have you reported income received in the prior year on your tax return? All business owners, whether they are freelancers or employers, need to have a basic understanding of paying taxes. Getting confused? Don’t worry! We will let you know how to pay taxes when you work as a 1099 contractor. We also provide information about who is a 1099 contractor, the responsibilities of a 1099 worker, and when you need to pay freelance taxes. Moreover, you can also know about self-employment taxes, and estimate the …

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