1099K vs. 1099-MISC: What is the Difference?

1099K vs. 1099-MISC - Rush Tax Resolution

Whoever said taxes aren’t that complicated? Especially when it comes to income, where the IRS wants to make sure that virtually everything you’ve earned has been accounted for, tax-wise. As such, there are 21 different versions of Form 1099, the form that the IRS requires you to fill out when you’re federally declaring any income …

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What is Imputed Income?

imputed income - rush tax resolution

Imputed income refers to the value assigned to a non-monetary benefit or perk received by an individual, which is then treated as taxable income. In other words, when a company or employer offers a non-traditional benefit – such as a gym membership, or an annual Amazon gift card – the value of that benefit is …

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