- The Gen Z Freelance Movement and the Tax and Bookkeeping Challenges That Come With It
- According to one recent study, there are currently 73.3 million freelancers in the United States alone.
- Looking for Quick Cash? Try to Avoid Retirement Savings
- If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting option. However, if you are under age 59½ and withdraw money from a traditional IRA or qualified retirement account, you will likely pay both income tax and a 10% early-distribution tax (also referred to as a penalty) on any previously untaxed money that you take out.
- Worried About Getting Audited? Here's What You Need to Know About Your Chances
- Does the IRS target some groups of people more than others? Learn more.
- Benefits of Qualified Opportunity Funds Waning
- A Qualified Opportunity Fund (QOF) is an investment vehicle which is organized as a corporation or a partnership for the purpose of investing in qualified opportunity zone property acquired after December 31, 2017. The QOF must hold at least 90% of its assets in qualified opportunity zone (QOZ) property but a taxpayer may not invest directly in QOZ property.
- Not Required to File a Tax Return? Reasons You May Want to Anyway!
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Generally, individuals are required to file a tax return for a year if their income exceeds the standard deduction for their filing status for that year. But even if they are not required to file it may be beneficial to do so. They could be missing out on huge refunds.
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