1099 Tax Deductions For Small Employment Businesses

The IRS allows various deductions for small employment businesses when compared to the regular employees. The 1099 deductions are the little complex for the individuals who are filing the tax returns for the first time. In order to clear the doubt regarding the tax deductions and to know more about 1099, lets shed some light on 1099 tax deductions for small employment businesses. Top 10 Tax Expenses for Self Employment Businesses Expenses of car and mileage Among the...

Thanksgiving Day wishes from Etax1099 Team

Thanksgiving is near and warm wishes from Etax1099 team to you and your family. We extend our thankfulness to each of our customers in this holiday season. This Thanksgiving day began as a day of giving thanks for the blessing of the harvest. Later, this day became the day where families come together, eat, share and celebrate the special day with the loved ones. So we as a family are growing together with you and your support....

Types of Vehicles Filed with IRS 2290 Form – Etax2290

Welcome back to our etax2290 blog filers. This blog will deal with the various types of the vehicles that are filed through this form and its own set of requirements. Types of Vehicles under 2290 Form As a trucker, you all might know the importance of e-filing Form 2290. But on the other hand, you must also know the various types of vehicles that are needed to be filed under 2290 Form. Before filing HVUT 2290 form...

Rules for Filing a Business Tax Extension Form 7004

Both individuals and businesses are allowed to file a tax extension, which gives extra time to file their income tax return. The due dates and the rules for filing a business tax extension differ from the personal tax extensions. Based on the type of the business, the extension period differs from 5 to 7 months, which starts from the original due date of the tax return. For instance, when a business extension gets 6 months of tax...

Form 1099-A (Acquisition or Abandonment of Secured Property)

A lender issues the Form 1099-A, Acquisition or Abandonment of Secured Property when the lender receives an interest in the property that was on the full or partial satisfaction of the debt, else if the lender got some reason to know more about that the property has been abandoned. Here, the property refers to a real property, tangible personal property, and any intangible property. The Form 1099-A is not for reporting the tangible personal property such as...

IRS Offers Last-Minute Tips for Who Haven’t Filed Individual Income Tax

When you are not able to file your icone tax returns by the due date, you can opt for an extension. But remember, a 4868 extension provides the grace period until Oct 16th but this does not extend the time to pay the tax. Interests and penalties will be included in all taxes which are not paid by the deadline April 18. In few scenarios, federally declared disaster area gets a 6-month extension automatically and people need...