Thanks! Why would they increase the 1099k threshold to issue the form from 600 to 5k? What’s the purpose of that? Wouldn’t that make peoples lives more difficult? 😅
The proposal to decrease the 1099-K reporting threshold came from two directions. One was from the payers themselves, who didn't want to issue perhaps millions of additional forms. The other was from the public, who was concerned that people who use third party payment networks for non-taxable purposes (i.e. reimbursements or sale of personal property) might have to pay taxes on this money. A $5,000 threshold largely resolves both of these problems.
Have you checked out this video? th-cam.com/video/kzUJ2S2U7CQ/w-d-xo.html It's one of the first videos I made for the channel--it's three years old as of today!
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Can u make video of back door Roth and tax with fmv
I've added it to the list....
Thanks! Why would they increase the 1099k threshold to issue the form from 600 to 5k? What’s the purpose of that? Wouldn’t that make peoples lives more difficult? 😅
The proposal to decrease the 1099-K reporting threshold came from two directions. One was from the payers themselves, who didn't want to issue perhaps millions of additional forms. The other was from the public, who was concerned that people who use third party payment networks for non-taxable purposes (i.e. reimbursements or sale of personal property) might have to pay taxes on this money. A $5,000 threshold largely resolves both of these problems.
Can you explain the federal tax? Please explain. Because your videos are very useful and I have watched all of them.
I pretty much thought that's what I was doing with these videos...is there something in particular you don't understand?
Please consider oversimplifing Child tax credits and where they are calculated and in which line are they documented.
Have you checked out this video? th-cam.com/video/kzUJ2S2U7CQ/w-d-xo.html It's one of the first videos I made for the channel--it's three years old as of today!
Good morning coach!!
❤
Your videos are great and very useful. May I share them in facebook?
Absolutely.