How Do I File Taxes If I Work As a Freelance Artist?

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Taxes : Business & Finance

Who Needs Tax Form 1099?

IRS Tax Form 1099 is used to report taxable income for independent contractors to the Internal Revenue Service. There are a variety of Form 1099s, and they have different purposes.

How to Withhold Flat Tax on a Form W-4

An Employee's Withholding Allowance Certificate, commonly referred to as the W-4 form, must be on file for every employee. The form's main purpose is to indicate to your employer how much federal income tax should be deducted from your earnings. A new W-4 should be given to the employer each year in

Documents To Show Your Tax Consultant

Having your return prepared by a professional helps ensure that you pay what is fair and aids in protecting you from audits. But without complete information, even the best and most experienced professional won't be ...

Taxpayers Strike Back - Fight Back and Beat the IRS

Finally Caught: You may have found the way to beat the system for a little while. But no one escapes Uncle Sam for long. The IRS has many weapons they use to make you pay. Know the enemy. Then when the IRS strikes, you can fight back.

IRS Tax Debt Help

When you owe money to the Internal Revenue Service, it can be a very helpless feeling. The IRS is the one entity that you cannot get out of paying in most cases. If you have a large tax bill that you cannot afford, you do have a few options to consider.

How to Read a W2 Form

Form W-2, prepared by your employer or your accountant, details how much money you made and the amount of taxes withheld from your paychecks. When you receive your W-2, you will notice that it has three or four sections of identical squares. Each of these is labeled in the top left corner. You will

Are 403b Elective Deferrals Tax Deductible?

Contributing to your employer's 403b plan is one of the best strategies for reducing your taxable income, and, therefore, your tax burden. The money you contribute to a 403b plan comes straight off the top of your paycheck, before that money is taxed. That reduces the amount of taxable compensation

Can I Take Per Diem as a Truck Driver if It Is Added to My Weekly Paycheck?

The majority of U.S. truck drivers are treated as self-employed for tax purposes. This means you receive a 1099-MISC at the end of the year for your non-employee compensation. Whether you may claim an expense for per diem reimbursements on your tax return depends on how your 1099 income is accounted

What Happens to Property After it Has Been Foreclosed On?

Foreclosure laws vary by state. Anyone facing a foreclosure needs to research the laws in his state or to contact a qualified attorney for information. Although banks generally follow the same steps when a borrower misses three or four payments, the timeline of the foreclosure process may be slightl

What If I Forgot to File a Tax Return Two Years Ago?

Taxpayers who forget to file a tax return for a previous year face an array of problems with the IRS. The obligation to file a tax return is separate and distinct from the obligation to pay taxes by the due date. Many of the adverse consequences can be mitigated by filing a delinquent return, regard

Tax Deductions For Your 2005 Hybrid Automobile

With the recent push by President Bush for alternative fuel strategies, much confusion has arisen regarding tax incentives for hybrid vehicles. This article clarifies the issue for you.

TurboTax Online

Review of the TurboTax for the Web 2005 tax preparation software program. Overall: TurboTax for the Web is highly recommended for both simple and complex tax returns because of its easy to understand interview questions and skillful handling of complex tax issues.

How to Estimate Personal Annual Taxes

Millions of taxpayers who take up new jobs each year must decide how much income tax they want withheld from their paychecks. This decision should be based upon the amount of tax that will have to be paid at the time of filing. Ideally, the amount of tax withheld should leave the taxpayer with eithe

Can You Deduct Donations Made to a Local Government?

Donations made to a local government entity generally qualify you for a tax deduction on your federal income tax return. A donation to a government entity is a type of charitable contribution, meaning you must meet a few criteria to qualify for a deduction.