Month: October 2020

How Will Freelancing on the Side Affect Your Taxes?

How Will Freelancing on the Side Affect Your Taxes

Amherst, NH Resident Seeks Advice

It isn’t uncommon today, in this gig economy, for people to have side work beyond their full-time employment.  It is important to report, and pay taxes on, this additional income.  If your freelancing clients are paying you in excess of $600 per year each, should be sending out a Form 1099-MISC at the end of the calendar year as a record of this money paid.  When you file your taxes, all of this additional income made from freelancing should be reported to the IRS.

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When Does Your Child Need to File Income Tax?

When Does Your Child Need to File Income Tax

Parents in Milford, NH Have Questions

A rite of passage for any working teen is the filing of their first income tax.  A status as a dependent does not exempt your child from filing income taxes.  If the child’s earned income reaches $12,200 or unearned income, from investment interest, above $1,100.  For those that are self-employed generating income, if the net earnings exceed $400 an income tax return must be filed. 

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405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

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Thursday: Closed
Friday: 9AM-3PM
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Monday: 9AM-5PM
Tuesday: 9AM-5PM
Wednesday: 9AM-5PM
Thursday: 9AM-5PM
Friday: 9AM-4PM
Saturday: 9AM-2PM