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1099-MISC Instructions and How to Read the Tax Form
In tax year 2020, the IRS reintroduced Form 1099-NEC for reporting independent contractor income, otherwise known as nonemployee compensation. If you’re self-employed, income you receive during the year might be reported on the 1099-NEC, but Form 1099-MISC is still used to report certain payments of $600 or more you made to other businesses and people. This article covers the 1099-MISC instructions to help you navigate this updated form. Read more…

What Is the IRS Form 1099-MISC?
Form 1099-MISC reports payments other than nonemployee compensation made by a trade or business to others. This article answers the question, "What is the 1099-MISC form?" after the reintroduction of the 1099-NEC. Read more…

Guide to the Nanny Tax for Babysitters and Employers
When it comes to working in people's homes, the working arrangements are often casual and wages are paid out in cash. This grey area can lead to confusion for both parties, but determining if a nanny or home-care giver is considered a household employee can make tax filing simpler for everyone involved. Read more…

Peer-to-Peer Car Sharing Tax Tips
More and more car owners are sharing their vehicles as a way to earn extra cash and offset the costs of owning a car using car-sharing apps like Getaround and Zipcar. Similar to Airbnb's business model, except you can rent out your car to strangers, instead of your home. As a car owner in the peer-to-peer car sharing business, you're also a small business owner for tax reporting purposes. This means you can deduct business-related costs, such as everyday auto expenses. Certain rules and limits apply to the amount and types of deductions you can take, so keep track of your income and expenses. Read more…

Taxes 101 for TaskRabbit Taskers
TaskRabbit is an online and mobile marketplace that matches users with "Taskers," the providers of personal services, such as house cleaning, gardening, running errands, doing chores, planning parties and more. It is a good way to earn income while helping others, but as a Tasker, you need to understand the tax implications of being an independent contractor. Read more…


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What is Form 8995? What is Form 8995-A? Tax Tips for Uber, Lyft, and Other Car Sharing Drivers How to File Taxes with IRS Form 1099-NEC Filing Tax Returns for Delivery Drivers: Tips and Advice Driving for Lyft? Use This Tax Preparation Checklist Video: 1099-MISC and 1099-NEC: What's the Difference? Estimated Taxes: How to Determine What to Pay and When Setting Up a Home Office Working at Home Video: When to Issue a 1099-MISC Tax Form The Self-Employment Tax Estimated Taxes: Common Questions Driving Down Taxes: Auto-Related Tax Deductions Reporting Self-Employment Business Income and Deductions What Is a Schedule C IRS form? PayPal and Venmo Taxes: What You Need to Know About P2P Platforms Video: Calculating Taxes on IRS Form 1099 Misc The Home Office Deduction What is the Paycheck Protection Program (PPP) Loan? 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