Guide to Los Angeles City Business Tax (TRC & Annual Filings)
If you operate a business or perform work in the City of Los Angeles, you must understand the City’s business tax requirements — including registration, filing, exemptions, and deadlines. This guide explains what Los Angeles expects, how to comply, and key rules every business owner or independent contractor should know. What Is the LA Business […]
Gig Economy Taxes: Rideshare, Delivery, and Freelancing
If you earn income from “gig” work—like driving for a rideshare app, delivering food, or freelance consulting—you are considered self-employed. You must report this income if your net earnings are $400 or more . How to Report Income Deducting Business Expenses You can lower your tax bill by deducting “ordinary and necessary” business costs . […]
Is My Unemployment Income Taxable?
Yes. Unemployment compensation is fully taxable on your federal tax return . Reporting Unemployment Official IRS Resource:Unemployment Compensation
Cancellation of Debt: Is It Taxable?
If a lender cancels or forgives a debt you owe (like a credit card balance or mortgage), the IRS generally treats the canceled amount as taxable income . Form 1099-C You will typically receive Form 1099-C (Cancellation of Debt) showing the amount of forgiven debt in Box 2. You must report this amount as “Other […]