general
What additional taxes do 1099 employees pay?
1099 Contractors and Freelancers The IRS taxes 1099 contractors as self-employed. If you made more than $400, you need to pay self-employment tax. Self-em...
Aug 01, 2026 • 1 READS
general
What is a foreign tax offset?
The foreign income tax offset provides relief from double taxation. You pay tax on your employment income or capital gains you make. To be able to claim a...
Aug 01, 2026 • 1 READS
updates
What is reimbursement for childcare?
A dependent care reimbursement account allows employees to set aside some pretax income (up to $5,000 in 2014) for the express purpose of paying for depen...
Aug 01, 2026 • 1 READS
news
Can an S Corp report a loss?
Assuming you actively participate in the operation of your S corporation and you’re not merely a passive investor, if your S corporation suffers a loss in...
Aug 01, 2026 • 1 READS
updates
What do I need to do to fill out Form 709?
If you’ve figured out you must fill out a Form 709, follow the instructions below. First, complete the General Information section on part one of the form...
Aug 01, 2026 • 1 READS
news
What is Box 14 A?
Line 14A – Net Earnings (Loss) from Self-Employment – Amounts reported in Box 14, Code A represent the amount of net earnings from self-employment. For Li...
Aug 01, 2026 • 1 READS
news
How do you find out where I did my taxes last year?
Order a Transcript Online Using Get Transcript. They can use Get Transcript Online on IRS.gov to view, print or download a copy of all transcript types. B...
Aug 01, 2026 • 1 READS
news
Is the IRS still using the e file pin?
After the April filing deadline, the IRS announced it was closing its e-filing PIN service in June 2016. While shuttering the e-file PIN program means you...
Aug 01, 2026 • 1 READS
news
What is Box 12 on a W-2 form?
The W-2 box 12 codes are: A — Uncollected Social Security or RRTA tax on tips. Include this tax on Form 1040 Schedule 2, line 8, check box c and identify ...
Aug 01, 2026 • 0 READS
updates
Why is my import duty so high?
Welcome to Canada, where everything costs 15-25% more expensive than same product south of the border in the US. Well, that is because Government of Canad...
Aug 01, 2026 • 1 READS
