If you have ever filed taxes in the United States, you’ve probably heard about Form 1040. At first glance, it may look confusing because of the numbers, boxes, and tax terms. However, once you understand its purpose, it becomes much…
If you earned money outside of a regular job, you’ve probably heard someone say, “You’ll get a 1099.” But what exactly is a 1099 form? Is it the same as a W-2? Do you have to pay more taxes? And…
Whether you’re starting a new job, freelancing, driving for a rideshare company, or taking on side gigs, you’ve probably heard about W-2 and 1099 forms. At first glance, they might seem like just another tax document, but they can have…
If you work for a company in the United States, you’ve probably heard about a W-2 form. Every year around tax season, employers send this document to their employees. But many people receive it without really understanding what it means.…
Have you recently started freelancing, driving for Uber, selling online, or running your own small business? If yes, you’ve probably heard about self-employment tax. The name sounds a bit intimidating, but don’t worry, it isn’t as complicated as it seems.…
If you have ever looked at your paycheck and wondered, “Why is money deducted for FICA?”, you are not alone. Many employees notice the deduction but don’t know what it actually pays for. The good news is that FICA is…
If you’ve ever looked at your paycheck or prepared your own taxes, you have probably come across the terms FICA tax (Federal Insurance Contributions Act) and self-employment tax. While both help fund Social Security and Medicare, they apply to different…
