Updated: Jan 10
Holiday season ends, Tax season begins. The frustration of submitting all tax reports owners. That's why stay tune for the next 4 weeks as we will guide you for Tax Preparation Countdown!
Aside from Cash, you need to gather the 3 most Forgotten Income Forms:
If you accept credit cards for services and goods that you provided please make sure to obtain from your merchant the 1099-K form.
If your client hire you as an Independent Contractor, then you should expect 1099-Miscellaneous Income.
Finally, if you have a business partner then you are responsible to attach Schedule K-1 on your business return.
Just an important reminder, under reported income results to an automatic audit.