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1099-K threshold delayed again
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1099-K threshold delayed again

Business, Individuals

1099-K threshold delayed again

In the recent IR-2024-299 released at the end of November, the IRS indicated that the 1099-K threshold is delayed again. The 1099-K form is used by Third party settlement organizations (TPSOs) like Venmo and similar cash apps and credit card processing vendors. The thresholds will be: 2024 - $5,000 2025 - $2,500 2026 - $600

By Victor Garrido, CPA, EA|2024-12-05T21:32:38+00:00December 6th, 2024|Categories: Business, Individuals|Tags: $600, 1099k, delayed, dinner, gig, irs, rent, report, sport, tax, threshold, worker|

Summer camp expenses? After school classes or sports? Child and Dependent Care tax credit might help
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Summer camp expenses? After school classes or sports? Child and Dependent Care tax credit might help

Individuals

Summer camp expenses? After school classes or sports? Child and Dependent Care tax credit might help

If you have kids under 13 that have after (or before) school activities (i.e. soccer, basketball, dance, etc.), daycare, or even summer camp, you might be entitled to a tax credit when you file your taxes. You will need to get some information to claim that tax credit like a) name of the institution or

By Victor Garrido, CPA, EA|2024-11-12T17:58:09+00:00August 26th, 2024|Categories: Individuals|Tags: after, care, child, credit, daycare, dependent, school, sport, tax|

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