This article was published by the IRS. Whether it's something they've been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2020 on next year's tax return. What's the difference between a hobby and a business? A business operates to make a profit. People engage [...]
This article was published by the IRS. Whether it's something they've been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2022 on this year's tax return. What's the difference between a hobby and a business? A business operates to make a profit. People engage [...]
The easiest way to file your taxes is electronically. Here are the top five reasons to choose e-file: It's easy. It's convenient. It's safe and secure. You'll get your refund faster if you choose direct deposit - usually in 21 days or less. If you owe taxes, you can make an electronic payment when you file [...]
This article was published by the IRS. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They can only claim this deduction for expenses that were not reimbursed by their employer, a grant or other source. Who is an eligible educator: The [...]
One of the first things to figure out with your taxes is which filing status to use. What counts is your status as of December 31st, not any other time of year. There are five filing statuses. Which one is yours? Single - If you're single, divorced, or legally separated as of December 31st, you're probably [...]
