When the Gift of Giving Brings a Tax on Receiving
If Santa brought you cash this holiday season, the IRS might have a less exciting present of its own for you in April. Three tax pros share tips for knowing…
Tina Orem
Tina Orem is NerdWallet's authority on taxes. She's been reporting on and writing about business and finance for over a decade. Her work has been featured by The Associated Press, USA Today, Consumers Digest, Advisor Today and other outlets. Email: [email protected].
Posts by Tina Orem:
Wealth Tax: What It Is and How It Works
A wealth tax is a tax on a person’s net worth, which is generally the difference between someone’s assets and liabilities. Governments might assess a wealth tax one time, sporadically…
How Tax on Mutual Funds Works and 6 Ways to Cut the Bill
Mutual fund taxes typically include taxes on dividends and capital gains while the investor owns the mutual fund shares, and capital gains taxes when the investor sells the mutual fund…
401(k) Taxes: Rules on Withdrawals, Contributions & More
For most 401(k) plans, 401(k) taxes only apply on withdrawals. Most 401(k) plans are tax-deferred, which means you don’t pay income tax on money you put into the account or…
Self-Employment Tax: Understand & Calculate It in 2019-2020
If you’re a freelancer, independent contractor or small-business owner, you may need to pay self-employment tax. Here’s what it is, how it works and how you can save. What is…
What Schedule C (Form 1040) Is & Who Has to File It in 2019-2020
If you freelance, have a side gig, run a small business or otherwise work for yourself, you may need to fill out IRS Schedule C at tax time. Here’s a…
What Is Schedule A of IRS Form 1040? Itemized Deductions in 2019-2020
If you’re thinking about itemizing your taxes, get ready to attach an IRS Schedule A to your Form 1040. Here’s a simple explainer of what IRS Schedule A is, who…
Rules and Qualifications for Claiming a Tax Dependent
A tax dependent is a child or relative whose characteristics and relationship to you entitle you to claim certain tax deductions and credits, such as head of household filing status,…
What Is a 1099-DIV Tax Form? How It Works and What to Do
A 1099-DIV tax form is a record that someone paid you dividends. Here’s how the 1099-DIV works. Sometime in February, you might receive a 1099-DIV tax form (or more than one)…
Form 1099-MISC: What It Is, How to Use It on a Tax Return
A 1099-MISC tax form is a record that someone gave or paid you certain kinds of unusual income. Here’s how the 1099-MISC works. Sometime in February, you might receive a 1099-MISC…
