In the blogs: Roll the credits!

When everybody wants returns; future CPAs; the lure of Tinseltown; and other highlights from our favorite tax bloggers.

]]

* This article was originally published here Check out https://www.johannakimball.com

Comments

Post a Comment

Popular posts from this blog

12 things HMRC will never say....

Image
12 things HMRC will never say: “After reviewing your contract, I consider you’re self employed.”  “Considering the length of time it has taken me to reply to your letter it is only fair that I give you 18 months to reply to mine. "I like you. On this occasion I’m going to let you off and chalk it up to experience". “Given the complexities of the legislation that is a mistake anyone could have made so I won’t be looking to charge a penalty.” “Following the recent Tribunal decision confirming that we have been incorrectly applying tax legislation to your circumstances, we can now concede that we are wrong and have accordingly charged ourselves a penalty for our carelessness in failing to take advice from an appropriately qualified tax professional.” “That might be what the legislation says but it seems incredibly unfair so we’ll take a pragmatic view” "You're right, we don't have unlimited powers to ask for anything we feel like" "It looks like we were wr...
Read more

How to File a 1099-K on TaxAct

Image
Did you receive a 1099-K tax form this year? If you’ve never seen this form before and are unsure what to do with it, don’t freak out — we can help you understand your Form 1099-K and guide you through reporting any necessary income. How do I use my 1099-K when filing my tax return? TaxAct ® takes accurate tax reporting seriously. That’s why we’ve spent much time and care optimizing our 1099-K reporting this year. We’ve added more detailed questions about what your 1099-K was for so we can help pull the proper tax forms for you. First, we’ll ask you for information about what types of income you’ve earned this year: As you can see from the screenshot above, Form 1099-K appears in more than one place — typically, this form is used for those who are self-employed, operate a side hustle, or sell personal items online. You could also receive a 1099-K for real estate rentals and royalties or farming. If you received a 1099-K for goods you sold as a hobby, there is also a third opti...
Read more

Is It Crazy to Buy Gold Coins For Investments?

Image
Have you ever considered gold as an investment? Or maybe just as a hobby? In the days of instant online stock trading and financial accounts, sometimes money seems almost make-believe. Many of us no longer see our money as a tangible object. That’s why there’s something very satisfying and solid about investing in and wanting to buy gold coins. There’s nothing like going to a coin shop, coming out with a small-but-heavy paper bag, and then taking it home and feeling the weight of each coin. But is it crazy to invest in gold coins in 2022? Let’s look at some advantages and disadvantages of buying gold coins as an investment. Advantages to buying gold coins Gold and other hard metals have always been a time-honored part of traditional investment plans. Here’s why: Gold tends to go up when other investments decline, providing a stabilizing effect for your portfolio. Gold is a safeguard against inflation. You don’t have to pay capital gains tax until you sell. Nobody m...
Read more