if i make less than $5,000 a year do i have to file taxes? if you made less than $5,000 and you're not self-employed, you don’t have to file a federal tax return. Filing could put real cash back in your pocket.

Form 8594 is a tax form used when someone buys or sells a business but only when it’s an asset sale, not a sale of stock or company shares. Both the buyer and the seller have to fill out Form 8594.

Form 2290, Heavy vehicles use to pay the Tax. If your truck weighs 55,000 pounds, the IRS expects you to file this form every year. Tax can go as high as $550 annually per vehicle.

What is a tax credit? Tax credit helps you pay less tax. If you owe $2,000 in taxes and you have a $1,000 tax credit, you now only need to pay $1,000.

What is a way to stay accountable to reaching your financial goals? Understanding the different types of goals short-term, mid-term, and long-term goals.

Self employed tax credit lowers your actual tax bill not just your income. If you owe $3,000 and get a $1,200 credit, you now owe $1,800.

Form 1040 is the main form used by individuals in the U.S. to file their income taxes. Form 1099 is a document you receive, not something you fill out. It’s used to show income.

Yes, you can claim some of the cost of your phone if you’re using it for work. But that doesn’t mean you can write off your entire phone bill.

CPA is a licensed accounting professional in the United States. Their education, examination, and experience requirements demonstrate a high level of expertise in accounting and auditing.

Federal tax ID number formally called an Employer Identification Number (EIN) is a unique nine-digit number the IRS gives to businesses. This number identify your business for tax purposes.