Bruce Brumberg, JD, contributor to Forbes.com, explains key tax-return topics that can apply to executives and employees who have income from stock compensation—such as stock options, restricted stock units, or an employee stock purchase plan (ESPP)—or who have gains from sales of company stock. Tax Season 2021 has begun. When you dig into your tax return for reporting 2020 income, you’ll notice that Form 1040 has changed yet again. In 2018, the IRS condensed Form 1040 significantly, completely revamping the prior traditional version, and introduced additional schedules that funnel information […]
When you start working for yourself, you might have to pay different taxes, including the federal self-employment tax. Michael Keenan of Yahoo!Finance explains. The IRS considers you self-employed when you’re in business for yourself, such as an independent contractor or if you have a sole proprietorship, or are a partner in a partnership, including an LLC that is taxed as a partnership. Read on to learn how to calculate self-employment taxes, no matter which state you live in.
Tamara E. Holmes from AARP shares helpful information when it comes to creating a strategy in an uncertain enviroment. The economic uncertainty brought about by the COVID-19 pandemic might have you thinking about pausing retirement contributions, but 2020 changes to contribution rules could make this the perfect time to take advantage of an individual retirement account (IRA).
Between constantly rising bills and expenses and the omnipresence of the American “buy-now” culture, it can be hard to set aside money for things like emergency funds and retirement savings. John Csiszar shares 5 common thoughts many have about saving for their futures. The good news is that saving and investing doesn’t have to be complicated. In fact, if you can talk yourself out of some of the most counterproductive money beliefs, you’ll find yourself on the path to success in no time.