6 Common Small Business Tax Deductions
Tax deductions greatly benefit the average taxpayer, but they can bring even greater tax benefits to a small business owner,…
TaxAct Blog: Explore All Articles
The Way Tax Reform Changed the Inflation Calculation
One of the least talked about parts of tax reform is the change in how inflation is calculated for the…
How Deer Meat Can Reduce Your Taxable Income
Does deer or meat donation reduce taxable income? That title smells like clickbait. But we promise deer deductions are a real thing. We…
Boost Your Retirement with Your Tax Refund
Updated for tax year 2023. If you received a tax refund this year, you may have big ideas on how…
Online Seller 1099-K FAQs: How to Calculate Taxable Income When Selling Personal Items
Updated for tax year 2023. You’ve likely heard about the new IRS reporting thresholds for Form 1099-K that were supposed to go…
5 Ways to Manage Your Finances As a Freelancer
Working as a freelancer or independent contractor is like riding a roller coaster. One month you're flush with cash and…
4 Common Misconceptions About Form 1099-K
Updated for tax year 2023. If the new 1099-K reporting thresholds have you confused as an eBay seller, you’re not alone.…
Demystifying the New 1099-K Reporting Thresholds
Updated for tax year 2023. If you sell items online, you’ve probably heard about new IRS reporting thresholds that were…
4 Common Misconceptions About Form 1099-K for 2023
Updated for tax year 2023. If the new 1099-K reporting thresholds have you confused as an online seller, you’re not alone.…
What Do New 1099-K Payment App Rules Mean for Taxpayers?
Updated for tax year 2023. You may have heard about new tax reporting thresholds for businesses using third-party payment apps…
4 Real-Life Examples of Form 1099-K Scenarios
Updated for tax year 2023. You can receive Form 1099-K for a variety of reasons. How you report the income…
Why You Might Still Get a 1099-K This Year
Updated for tax year 2023. Many taxpayers were preparing for a drastic change this year — new reporting requirements for…