Content applies to tax documentation in the United States
What you will learn
Discuss some common tax documentation in the United States
Explain tax forms W2, 1099, 1040 and schedule C
Discuss some common forms that are used to file taxes
Discuss some basic differences between employer and contractor
Description
This course will introduce students to some common tax documentation used in the United States. It is important to know these forms and concepts as everyone will have to file taxes at some point.
Common tax documentation includes W2 statements, 1099 statements, Schedule C statements and 1040 Statements. As part of today’s course we will discuss what these forms are used for and how they may apply to you.
For e.g. if you are employed by a grocery store and earn income, you will receive a W2 at the end of the year summarizing all the money you earned and all the taxes your employer withheld from your paycheck. When it is time to file taxes, you will use the W2 form to enter information on the 1040 income tax document.
I hope you gain some new knowledge from today’s course and I wish you nothing but success in your financial endeavors. Thanks for taking this course. Feel free to share with others and I welcome feedback as it helps me improve my courses.
Video Credits:
Music By: Twins Music – Brave
Music by Bensound
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Royalty Free images by Fauxels – Photo Of People Holding Each Other’s Hands
Legal disclaimer
The contents of this course provide general financial information. It is not legal advice or regulatory guidance. It is intended to provide basic financial concepts to help further financial education. You should always consult a lawyer or accountant for personal matters relating to finances
Content