Did you get unemployment compensation in the past years? If so, you’ll likely get an unemployment W2.
Filing taxes with multiple W2s is easy, just don’t forget some keys steps and filing your return will be a snap.
You get to choose how man allowances to claim on your W4. The rules are straightforward, but there are opportunities to save tax.
Have you ever seen Cafe 125 on your W2? Curious about what it means? It’s actually a pretty common item on employees’ W2 forms.
Your W2 will list your wages and other income. Can you claim certain items to lower your tax? Not quite, but you could make sure everything looks right.
Most employees and contractors will receive a W2 or 1099. For those that don’t, you can still file taxes without a W2 or 1099.
Reading a W2 can be easy. Just remember to know which wage item belongs in which box of the W2 form. You can also check the legend.
The difference between a W2 and a W4 is quite simple – one is filled out by you and the other is provided to you by your employer.
You generally don’t have to pay tax on personal injury and emotion distress settlements, but other types of settlements are taxable.
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