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Recordkeeping

Do you have a side gig? Make sure you understand your tax obligations

Form 1099, Form 1099-K, Form 1099-Misc, Independent Contractors, Individual Income Tax, Internal Revenue Service, Side "Gig" /

The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019 IRS report. And there are tax consequences for the people who perform these jobs, such as providing car rides, renting spare bedrooms, delivering food, walking dogs or providing other services. Basically, if you receive income […]

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Volunteering for charity: Do you get a tax break?

Charitable, Charitable Mileage Deduction, Deductions, Itemized Deduction, Tax Cuts and Job Acts (TCJA), Tax Deduction, Tax Savings /

If you’re a volunteer who works for charity, you may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may not amount to as much as you think your generosity is worth. Because donations to charity of cash or property generally are tax deductible for itemizers, it may

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