Can I take money out of my 401k for having a baby?

A hardship distribution for a new child should be treated as a rollover, but with three years to pay it back instead of only 60 days.

Why Do I Owe Taxes on My Inheritance?

When you make withdrawals, you will get a 1099-R at the end of the year and you need to report it as retirement income, even if you are not retired, even if you had taxes withheld.

Business or Hobby? – Are you overpaying you taxes?

Don’t let tax software convince you that you are a business because you got a 1099. Hobbies are reported as “other income.”

Insolvency: Word of the Week

What is insolvency and why is it important? What is Form1099C? Is it taxable? Is cancellation of Debt taxable?

What is Backup Withholding?

If people don’t give you their ID for 1099 or W-9, you are required to hold 24% of what you paid them and send it to the IRS. Hair and Makeup: Be You Studio 23 Director/Camera: Kelly Black Fayetteville Public Library for their editing suite

Employee or Contractor?

Determining whether you are an employee or contractor can be confusing. Find out which you are and how to handle your taxes accordingly.

Nine things you need to do for your small business or side gig in January 2026

Nine things you need to do now (Before you file your taxes) Income Checkup – If you are going to we over $1000 at the end of the year (federal or state), make an estimated payment by January 15th. IRS paycheck checkup tool can help: https://www.irs.gov/paycheck-checkup  1099s – Get contract workers’ information and total what […]

Everything You Want to Know About Form 1099

Learn about 1099s for small businesses – if you need them, how they work, and when to (and not to) use them for your contractor.

What to Bring to Do Your Taxes

Learn what to bring to your enrolled tax agent or CPA when you’re ready to do your taxes and download our checklist.