If you haven't filed your 2024 tax return yet, don't panic. Although the deadline for extended returns is October 15th, you can download all your W-2s, 1099s and other tax document information on a ...

So, despite making a profit on his rental property, John's K-1 shows a loss of $6,000 ($30,000–$24,000). This loss can be used to offset John's W-2 income, reducing it from $120,000 to $114,000.

If you’ve been issued Form W-2 by your employer, here’s what you need to know about how it will affect your tax return. If you’re an employee, Form W-2 is one of the most important forms you ...

A W-2 employee may get paid $30 an hour no matter what they do, but a 1099 driver will be paid based on factors like the number of miles driven or the amount of gross that was made on a delivered ...