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Online Transactions Do you need to pay taxes on online sales? That is a commonly asked question. Many people join the online space to make a buck, free from…
Cancellation of Debt: Questions & Answers on 1099-C
It’s no secret that millions of Americans are in debt. If you borrow money from a lender and sign the dotted line on a legal document obliging you to pay…
Exempt from Backup Withholding: What is Backup Withholding Tax?
Every year we file our taxes, and every year it seems to get more complicated. Even though the IRS spells out its tax regulations and gives us instructions, the amount…