Many who have jobs as part of the gig economy do not realize that all the money they earn is taxable. Even without the official tax forms issued to them. Want to know more and better understand how your side-hustles or part time work, paid in any way, are taxable? Visit the IRS Gig Economy Tax Center and find answers to all of your tax related questions.
Tag: tax questions
Tax Time is Coming Soon!
It’s time to start gathering forms and data for your 2020 tax returns, if you haven’t already. This time of year you may have many questions about your taxes, but one of the most important things to monitor is your withholding. Ever had a surprise tax bill that caused you financial hardship? The best way to avoid this is by checking your withholding every year. For more information on the right amount for you based on various factors, visit https://www.irs.gov/pub/irs-pdf/p5349.pdf and try their Withholding Estimator today! For all your other tax questions contact me, Debra Newby Watkins, CPA, 512 484 8016.
Last Minute Tax Prep?
Did you wait until the last minute to prepare your taxes this year? You do have an extra three days, the deadline is April 18th. Have questions? Need to know about forms and deductions? Try this article from the New York Times and if that doesn’t get you where you need to be,
give me a call!