Category: Direct Tax

As the cost of higher education continues to rise, many families turn to tax-advantaged education savings plans such as 529 Plans and Coverdell Education Savings Accounts (ESAs). When funds are withdrawn from these accounts to pay for qualified education expenses,...

Read More

Form 1099-NEC is an essential IRS information return used to report nonemployee compensation paid to independent contractors, freelancers, gig workers, and other self-employed individuals. As the gig economy continues to expand and more businesses rely on external talent and services,...

Read More

Form 1099-MISC is one of the many types of IRS information returns used to report income that doesn’t fall under traditional employment, such as salaries or wages. If you’ve received certain types of income—including rental income, prize winnings, or legal...

Read More

As the gig economy and digital payments continue to grow, more individuals and small businesses are receiving income through platforms like PayPal, Venmo, Stripe, Amazon, and others. The IRS uses Form 1099-K to track these electronic payments and ensure that...

Read More

Form 1099-INT is a key document issued by banks, financial institutions, and other payers to report interest income earned by an individual or entity during a tax year. If you earn more than $10 in interest from a bank account,...

Read More

Form 1099-G is a tax form issued by federal, state, or local government agencies to report certain types of payments made to individuals. These payments may include unemployment compensation, state tax refunds, agricultural payments, or other government-issued benefits. While the...

Read More

Form 1099-DIV is an essential tax document issued by financial institutions to report dividends and other distributions to investors and the Internal Revenue Service (IRS). If you hold investments such as stocks, mutual funds, ETFs, or real estate investment trusts...

Read More

Form 1099-B is a crucial document issued by brokerage firms and barter exchanges to report proceeds from transactions to both the taxpayer and the Internal Revenue Service (IRS). If you sold stocks, options, commodities, or other securities during the tax...

Read More

Receiving a tax refund can be a significant financial relief, especially after the stress of preparing and filing a tax return. However, in Switzerland, just like in many other countries, tax refunds may not always arrive as quickly as anticipated....

Read More

Switzerland’s social security and retirement savings system is built on a well-defined three-pillar structure. Among these, the second and third pillars—Pillar 2 (occupational pension) and Pillar 3a (private retirement savings)—offer valuable opportunities for tax deductions. Understanding which contributions are deductible...

Read More