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Home Authors Posts by Janet Berry-Johnson

Janet Berry-Johnson

Janet Berry-Johnson is a Certified Public Accountant. Before leaving the accounting world to focus on freelance writing, she specialized in income tax consulting and compliance for individuals and small businesses. She lives in Omaha, Nebraska with her husband and son and their rescue dog, Dexter.
Irs 1040 Form Tax Schedule F Farming

Schedule F (Tax Form 1040) Instructions – Farming Profit/Loss

Like any other business, farmers must pay taxes. Farms that operate as sole proprietors, trusts, partnerships, LLCs, and S corporations use Schedule F to report their farming income and expenses. Not sure how to fill it out? These instructions will get you started.
Us Federal Tax 1040 Schedule D

Schedule D (Tax Form 1040) Instructions – Capital Gains & Losses

Do you buy and sell stocks, bonds, mutual funds, and other investment property? If so, you need to familiarize yourself with IRS Schedule D, the form used to report capital gains and losses. Here is your guide to completing the Schedule D Tax Form correctly and painlessly.
Nanny Tax Block Letter Dice

Nanny Taxes – How to Pay for Your Household Employee (Schedule H)

Research shows that spending money on time-saving services like nannies and housekeepers can promote happiness and lead to greater life satisfaction. But it can get you into hot water if you aren’t aware of household employment taxes, also known as the nanny tax.
Schedule E Irs Form 1040

Schedule E (Tax Form 1040) Instructions – Supplemental Income & Loss

If you earn rental income, receive royalties, or have income from a pass-through entity such as a partnership or S corporation, you’ll need to complete IRS Schedule E when you file your taxes. Reporting supplemental income can be confusing but the form itself is pretty simple. Learn how to complete it here.
Tax Attorney Gavel Cash Calculator Tax Irs Form

When Does It Make Sense to Hire a Tax Attorney?

You never know when you’ll face a complex tax situation that calls for outside help. When your tax issues are too complex to handle on your own, hiring a tax attorney makes sense. Not sure if you need a lawyer? Ask yourself these three questions to find out.
Short Sale Foreclosure

Tax Implications & Consequences of a Short Sale or Foreclosure

Every year, a million homes enter foreclosure and many more people are forced to sell back to the bank for less than their home is worth. Foreclosures and short sales are bad enough, but few people consider the tax implications — until they file their tax return and realize the worst isn’t over.
Tax Evasion Letters Desk Notebook Coffee

IRS Tax Evasion Fraud Definition & Penalties – What If You Don’t Pay?

Admit it. At some point during tax season, you’ve likely had the thought: “What if I just don’t file?” Whether you skip filing or just don’t pay, that’s called tax evasion, and it can lead to stiff penalties and jail time. But you can prevent that sticky situation — even if you can’t afford to pay.
Job Search Human Resource Career Recruitment Phone Interview

Job-Related & Job Search Expenses That Are Tax Deductible

You used to be able to deduct unreimbursed expenses and job search costs on your taxes. But with the new tax law, it’s gotten a lot more complicated and fewer people qualify. Before you file this year’s return, find out if you still qualify, what costs you can deduct, and where to claim them.
Tax Extension Marker Post It Note

Extending the Tax Deadline for COVID-19 – What It Means for You in 2020

The IRS has officially announced it’s pushing the due date for filing personal federal income taxes and making 2019 tax payments to July 15, 2020, due to the COVID-19 pandemic. Here’s how it will affect you.
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Important Tax Due Dates & Deadlines – 2020 IRS Tax Calendar

Do tax deadlines seem to sneak up on you? April 15 isn't the only important day on the tax calendar. There are a number of important tax deadlines throughout the year that may or...
W2 Tax Form Wage Salary Pen Form

Box 12 Codes on Tax Form W-2 Explained

If you’re an employee, one of the many tax forms you have to file is Form W-2. And Box 12 of that form throws many taxpayers for a loop. Each of the uppercase codes you might see in Box 12 has a meaning, and understanding them is the first step to calculating your total tax liability.
Retirement Savings Mason Jar Coins

Retirement Savings Contribution Credit – Get a Tax Credit Just for Saving

There are significant tax benefits to low- and moderate-income families who save for retirement. The Retirement Savings Contributions Credit ("Saver’s Credit") could help you reduce your tax liability. A reward for building your financial security? That’s what we call a win-win.