New BTCSoftware and Pixie partnership to deliver pioneering efficiencies

Accounting software
Tags


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

Comments

Post a Comment

Popular posts from this blog

4 Common Misconceptions About the New 1099-K Reporting Threshold

Image
If the new 1099-K reporting thresholds have you confused as an eBay seller, you’re not alone. But don’t worry — eBay and TaxAct have partnered up to help you separate fact from fiction. Below we’ll address some common misconceptions you might have heard about these changes and the truth about how your taxes could be affected. Misconception 1: This is a new tax that I will have to pay on my profits. The truth: This year’s change is not a new tax imposed on online sellers but a new reporting requirement for eBay and other online marketplaces. Any income derived from a sale has always been reportable income for eBay sellers. Previously, you would not have received a Form 1099-K from eBay unless you hit 200 transactions and $20,000 in gross payments annually. In 2022, the IRS lowered this threshold. Now eBay and other marketplaces must report gross sales that equal or exceed $600 on a Form 1099-K. Due to these changes, many sellers who have not received a Form 1099-K before will be
Read more

What Your Tax Return Can Teach You For Next Year

Image
Every year, you learn something new when you file your taxes. Hopefully, every time you figure out how to do it more efficiently. Maybe you discover a new way to file that takes less time. Perhaps you maximize your tax refund or determine ways in which you will owe less the next time around. Whether you’ve filed your income taxes for this year or you’re still planning to do it soon, here are some of the top things it can teach you about tax preparation so that it’s easier next year. The Deductions You Can Take There are many tax deductions you can take on your income tax return. You may have taken as many as you can this year, or you might have forgotten some but now it’s too late. Either way, the next time you file, you can make sure to claim them. Some of the tax deductions you may be able to take include the student loan interest deduction, the American Opportunity tax credit, an IRA deduction, medical expense deduction, mortgage interest deduction, and the state and local tax
Read more