What is IRS Form 1099-MISC?
Running a business is expensive. If you’re the owner or proprietor of a business, then there is only so much that you can do in terms of tax deductions on payments made with respect to the business. Beyond a limit, those payments are capped, and the rest is taxable. However, one method that the IRS […]
What is IRS Form 1099-K?
E-commerce has seen a boom in the last 5 years, and as it became clear that it was a very worthwhile way to make revenue for businesses, the IRS was struggling to keep with collecting the taxes that should have come their way. While the online sellers and made money, the IRS was losing it […]
What is IRS Form 5498?
When an individual makes a jump from being a salaried individual to a retired individual, then she or he does so with a huge drop from the amount of salary per month to the amount of pension per month. Hence, many people start planning from retirement quite early, putting away a little bit of money […]
