1099-K vs 1099-MISC—What’s the Difference?

When you are self-employed or working on a contract basis without withholding the taxes, then your income will be reported under different tax forms like: 1099 MISC Form or 1099 K Form. Consultants or freelancers who receive $600 or more during a tax year can receive 1099 MISC form, on the other hand a freelancer who works on-demand economy such as Lyft or Uber will receive 1099 K Form. So in this article let us find the...

The Non Profit Tax Returns You Need To Know About

Discussing about the things that a non profit tax exempt organization needs to know in this financial year, just  read on the blog. Even if you are a nonprofit organization, which has tax exempt and do not pay the federal taxes, you are required to file an information form with the IRS. Form 990n is used for this purpose of filing the information. While you e-file form 990, it ensures that the nonprofit organization performs the business...

How to Report and Pay Taxes on 1099 Income with Appropriate Form

When you have received a 1099-MISC from the person who paid you for your service that you did during the last tax year. Now what to do with the 1099-MISC form will be a question. To know better read on the article. What Do If you receive 1099-MISC Form? 1099-MISC form is to report amounts paid to the non-employees ( independent contractors, freelance workers, and other businesses to whom payments are made) Non-employees get 1099-MISC each year...