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Tips for Taxpayers Who Make Money From a Hobby

Posted by Scott Farnes on Feb 20, 2020 8:14:00 AM

Many people enjoy hobbies that are also a source of income. From soap making and pottery to calligraphy and designing jewelry, these activities can be sources of both fun and finances. However, taxpayers who make money from a hobby should know that they must report that income on their tax return.

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Topics: Business Ownership, Personal Finance, Taxes, Small Business, Tax Return

Employers: Backup Withholding Lowered to 24 Percent

Posted by Scott Farnes on Dec 16, 2019 8:40:00 AM
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Topics: Personal Finance, Taxes

Retirement Contributions Limits Announced for 2020

Posted by Taylor Bennett on Dec 6, 2019 8:44:00 AM
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Topics: Personal Finance, Retirement

Take Retirement Plan Distributions by December 31

Posted by Scott Farnes on Dec 4, 2019 8:21:00 AM
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Topics: Personal Finance, Taxes, Retirement

Credit for Plug-in Electric Vehicles Winds Down

Posted by Taylor Bennett on Nov 27, 2019 8:14:00 AM
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Topics: Personal Finance, Taxes, Tax Credit

IRS Ends Tax Transcript Fax and Third-Party Services

Posted by Missy Dennis on Nov 1, 2019 8:01:00 AM
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Topics: Personal Finance, Taxes, Tax Transcript

Tax Reform Reminder: Changes to Itemized Deductions

Posted by Scott Farnes on Oct 28, 2019 8:03:00 AM
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Topics: Personal Finance, Taxes, Tax Deduction, Tax Reform

10 Facts about the Adoption Tax Credit

Posted by Scott Farnes on Oct 23, 2019 7:57:00 AM
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Topics: Personal Finance, Taxes, Tax Credit, Tax Benefit, Adoption

List of Preventive Care Benefits Expanded for HSAs

Posted by Scott Farnes on Oct 17, 2019 8:27:00 AM
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Topics: Personal Finance, HSA

Be Prepared When Natural Disasters Strike

Posted by Missy Dennis on Oct 4, 2019 1:39:01 PM

While September and October are prime time for Atlantic hurricanes, natural disasters of any kind can strike at any time. As such, it's a good idea for taxpayers to think about - and plan ahead for - what they can do to be prepared.

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Topics: Personal Finance, Record Keeping