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Jason D. Knott
Jason D. Knott
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_understanding-irs-1099-misc-amp-1099-nec-changes-for-2020.webp "In July 2019, the IRS issued a release draft of a new Form 1099 for use beginning in 2021 (for 2020 taxes). Join us in an important live webinar presented by Ed Pratt, Chief Operating Officer at Zenwork, Inc. as he guides us through the Form 1099-MISC and Form 1099-NEC changes for 2020 and beyond. Ed will discuss the requirements for the new forms, show you how to fill them out properly and share his tips for training and communicating with your staff and vendors to avoid any confusion.nnLearnin")
_cpa-explains-irs-tax-form-1099-nec-everything-you-need-to-know.webp "Lena Petrova, CPA")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.")
_1099-nec-how-to-fill-out-and-file.webp "Mr Short Dollars")
_irs-form-1099-nec-where-do-i-report-the-income.webp "Jason D. Knott")
_how-does-the-wash-sale-rule-work-and-what-to-look-out-for.webp "When you’re selling and rebuying stocks, it’s important to understand the wash sale rule and avoid having losses disallowed by the IRS.")
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