Tag Archives: unemployment

Unemployment Benefits

It can be stressful to deal with the loss of a job, even if you have just been laid off. You’re struggling to find out how to meet the ends, and unemployment benefits can be the answer to the help you’re looking for. You must remember, though, that they are taxable. You must include any […]

Even if you received unemployment compensation during the year, you may still be able to claim the Earned Income Credit. However, you’ll need to meet a few requirements first. The EIC, as its name suggests, require you to have “earnings”, sourced from the act of providing services in exchange for compensation – for example: employment. […]

Tax Exemptions Add More to Your Wallet

Understanding the tax laws isn’t always an easy task. However, there are certain parts of the tax code that are relatively straightforward and simple to comprehend – for tax code that is. Exemptions are one of the few great parts of filing your taxes, because they help taxpayers get back more of their hard earned […]

Contrary to popular belief and what is often portrayed in movies, the IRS isn’t always the bad guy. If you aren’t able to pay the full amount you owe in taxes, the IRS will make arrangements to make repayment easier. Though you should be aware that back taxes or past due amounts will reduce your […]

Forklift Drivers Find Deductions

Not everyone can drive and operate a forklift. It takes a special skill, training, and an extra cautious mindset to be a safe forklift driver. When it comes to taxes, forklift operators have to know how to drive their way through a rigorous tax code. However, with a little extra help, tax time for forklift […]

Taxpayers who work as a tradesman, including a PC professional, electrical technician, craftsman, development specialist, forklift administrator, repairman, machine administrator, painter, handyman, welder or worker, will receive Form W-2, Wage and Tax Statement, from your employer. If you receive payments for service from anyone other than your employer, this income may be considered self-employment and […]

Unemployment can be Taxing

Unemployment benefits are taxed depending on the type of program you are receiving the benefits from. Compensation amounts from unemployment include any income received according to either the federal or state laws of the United States. This compensation can include: State unemployment insurance benefits Benefits paid from the Federal Unemployment Trust Fund Railroad unemployment compensation […]

What is a 1099-G?

There’s a chance you’ll need to report the information listed on a Form 1099-G should you receive one from a government agency. Typically, 1099-G is used to report compensation from unemployment benefits, along with tax refunds issued by the state or local government. Unemployment Benefits If you receive compensation from unemployment, you are required to […]

Dealing with the loss of a job can be stressful, even if you’ve just been laid off. You’re struggling to figure out how to make ends meet, and in this time, unemployment benefits may be the answer to the help you seek. However, you need to remember that they are taxable. When calculating your income […]