Stocks finish 2025 with double-digit gains as mortgage rates hit yearly lows, the IRS rolls out new tax guidance, and Washington signals major shifts heading into the new year.
Strong breakdown! The IRS guidance on 1099 reporting for tips and overtime is gonna be interesting for gig workers who've been dealing with murky tax treatment for years. The fact that W-2 and 1099 forms won't have dedicated fields for 2025 means a lot of manual calcuation for independent contractors, which could get messy. I worked with freelancers last year who got burned because they didn't track overtime properly on their quarterlies.
Exactly! It's going to make tracking accurately a lot more important! These new rules are a complete gamechanger and people who benefit from them should keep accurate tracking to ensure they can make the most out of them
Strong breakdown! The IRS guidance on 1099 reporting for tips and overtime is gonna be interesting for gig workers who've been dealing with murky tax treatment for years. The fact that W-2 and 1099 forms won't have dedicated fields for 2025 means a lot of manual calcuation for independent contractors, which could get messy. I worked with freelancers last year who got burned because they didn't track overtime properly on their quarterlies.
Exactly! It's going to make tracking accurately a lot more important! These new rules are a complete gamechanger and people who benefit from them should keep accurate tracking to ensure they can make the most out of them