It is possible that your roommate does not recall having hired such person, which could have been years ago. That is likely what took place. The...

Note that, ultimately, when you file your tax returns next April, you will receive a refund of any overpayment. So, the funds are not lost that...

Yes, you can deduct legitimate loans to another person. If personal, they are deductible as short-term capital losses. Here is an explanation of...

Compensation for services are NOT gifts. They are taxable income. Ms. Willi provided you sound advice. You are in business making money, get a...

If you are truly a non-resident of Indiana, you only pay tax in Indiana on the income earned in Indiana or attributable to the job there. The key...

You only need to file taxes if you have income. Income can be from any source, such as wages on a job, side jobs you may have, income from a small...

The IRS has until 10 years following the later of a) the filing of the tax return; b) The due date of the return or c) their assessment via SFR...

If your corporation has no assets, then why are you concerned? An 1120 tax is a corporate income tax. The owner of the corporation has no...

I think you should comply with the law. File your tax returns. Go back "on the grid". Pay taxes on what you earn going forward. Once you have...

The key here is not the threshold for a 1099, the key is whether or not you need to report the sales on your tax return. You do. Anything you sell...