by Angie | Apr 19, 2022 | Distribution, Taxes
Now we get to figure out how much tax is due (line 16). I know…exciting right!? Use the tax table in the instruction handbook to locate the line with the amount entered on line 15 on your 1040. Then navigate to the column based on how you are filing (single, married,...
by Angie | Apr 8, 2022 | 1040, Taxes
So, let’s look at 2a and 2b. If these don’t apply to you, then you can skip over these. If these apply to you then you should receive 1099’s (1099-INT, 1099-DIV, or 1099-OID) reporting what you’ve received. INT stands for interest. DIV stands for dividends such as...
by Angie | Mar 30, 2022 | 1040, Taxes
So, now we must discuss the most important part of a 1040. Line 1. Yes, the dreaded line 1. Wages, salaries, tips, etc. What’s etc. anyway? Really? We as citizens must decipher what etc. is? Well, if you want a basic summary of what all that means, here ya’ go....
by Angie | Mar 24, 2022 | Dependent, Taxes
One of the questions I get a lot is who is considered your dependent? Such a simple question, right? But, of course not (as you may have guessed). Even my eyes crossed at their many pages long answer. I’ll give you some basics: a “child” dependent can be your...
by Angie | Mar 24, 2022 | Taxes
Taxes are fun, said no one ever, well, except for me and the IRS. There’s nothing I can say to make taxes fun for you to read, but what I can do is explain taxes in a way that you can understand better than trying to read the exciting and thrilling IRS tax code...
