Understanding the Taxation of Lawsuit Settlements: What Taxpayers Need to Know
Receiving proceeds from a lawsuit settlement can significantly impact your financial situation, and understanding the tax implications is crucial for effective financial planning.
- Penalties That Can Wreck Your Finances
- Late filings, underpayments, and payroll mistakes can trigger costly IRS and state penalties. Learn which ones to watch for and how to prevent them before they spiral.
- Video Tips: Taxation of Lawsuit Settlements
- Receiving proceeds from a lawsuit settlement can significantly impact a taxpayer’s financial situation. Watch this video for a quick overview of how lawsuit settlements can be taxed.
- Multiple Side Hustles, One Big Tax Headache
- Earning income from TikTok, Shopify, Venmo sales, or freelance gigs? Learn why multiple income streams can complicate your taxes—and how to stay compliant while maximizing deductions.
- 2025 Year-End QuickBooks® Tasks to Tackle Before January Hits
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Close out 2025 with confidence. Discover 7 key QuickBooks® Online tasks—reconciliation, payroll, reports, and 1099 prep—to simplify tax season.
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