Based on this module, what option would you choose to prepare your taxes? Why? What is one advantage and one disadvantage to using this option to file your tax return?

Answers

Answer 1

Answer:

1.1099 form to prepare my taxes

2.The ADVANTAGE is that I will get to fill it out when compare with the W-2 which is already filled out and may take more money than I spent.

3. The DISADVANTAGE is that in a situation where anything I filled in the 1099 form is wrong the IRS may find out which means I will be the one to pay for the damage

Explanation:

1.Based on the module the option I would choose to prepare my taxes is that I will use the 1099 FORM TO PREPARE MY TAXES, reason been that it will gives me an option on telling either the government or IRS of the amount of money I spent in the year.

2.The ADVANTAGE is that I will get to fill it out when compare with the W-2 which is already filled out and may take more money than I spent.

The second ADVANTAGE with the 1099 is that I will definitely get to write an approximate of the amount of money I wasted and the amount of money I needed to get back from the IRS.

3. The DISADVANTAGE is that in a situation where anything I filled in the 1099 form is wrong the IRS may find out which means I will be the one to pay for the damage.

Second DISADVANTAGE is that in a situation where the information I wrote in that form is wrong the IRS will either give me a penalty or charge me more Amount of money.

Related Questions

Other Questions

65WEM-8-8-54-2-102-23cB-5Which of the four images was formed by a reflection of the letter M? The avarage monthly salary of m male employees and f female employees of a company is 2000 if the avarage monthly salary of the male employees is (b+200) find the avarage monthly salary of the female employees PLEASE ANSWER!Which statement best explains the cartoons message? The nations of Europe did not want the United States to be part of the League of Nations The United States could not convince the nations of Europe to join the League of Nations The absence of the United States from its membership greatly weakened the League of Nations The nations of Belgium and France bitterly opposed England and Italy over the League of Nations Which letter comes next? F H K N Z ? Choose from: L M T Y Rosa records the distance that a toy car rolls and the time it takes to cover the distance. What scientific practice is this? collecting data asking a question providing explanations communicating results A corporation produces a single product and has the following cost structureNumber of units produced each year 7000Variable costs per unit Direct materials 51Direct labor 12Variable manufacturing overhead 2Variable selling and administrative expense 5Fixed costs per year Fixed manufacturing overhead.. 441000 Fixed selling expense 112000The absorption costing unit product cost is:______. A) $149 per unit B) $65 per unit C) $63 per unit D) $128 per unit What are all of the real roots of the following polynomial? f(x) = x4 - x3 - 13x2 + x + 12 $6,000 dollars is invested in two different accounts earning 3% and 5% interest. At the end of one year, the two accounts earned $220 in interest. How much money was invested at 3%? $2,000 $3,000 $4,000 Question 18 (5 points)Identify the independent and dependent variables in the following situation: Thetemperature of the water decreases as a diver descends to the bottom of a lake.The independent variable is the temperature of the water, and the dependentvariable is the depth below the surface of the lake.The independent variable is the depth below the surface of the lake, and thedependent variable is the temperature of the water.The independent variable is the speed at which the diver descends, and thedependent variable is the temperature of the water.The independent variable is the type of boat, and the dependent variable is thetemperature of the water. marcus receives an inheritance of $13,000. he decides to invest this money in a 10-year certificate of deposit (CD) that pays 3.0% interest compounded monthly. how much money will marcus receive when he redeems the CD at the end of 10 years? Which lifestyle is most likely to lead to infertility in a male ? A man who works as a mechanic A man who works as a computer programmer and sits at desk magority of the day A semi professional athlete A man who works for a companys that applies pesticides to lawns write the equation of a line that is perpendicular to x=3 and that passes through the point (0 -4) will mark brainliest asap!!! Fogerty Company makes two products, titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Unit Annual Production Hubs 0.60 15,000 units Sprockets 0.20 50,000 units Additional information about the company follows: a. Hubs require $39 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $12 per hour. c. Hubs are more complex to manufacture than Sprockets and they require special equipment. d. The ABC system has the following activity cost pools: Estimated Activity Activity Cost Pool (Activity Measure) Overhead Cost Hubs Sprockets Total Machine setups (number of setups) $ 28,980 140 112 252 Special processing (machine-hours) $ 92,000 4,600 0 4,600 General factory (organization-sustaining) $ 89,000 NA NA NA Required: 1. Compute the activity rate for each activity cost pool. 2. Determine the unit product cost of each product according to the ABC system. (Round intermediate calculations and final answers to 2 decimal places.) Based on the information in the graph, what conclusions can be drawn about the rate of skin cancer in mencompared to that in women?than in women Christopher collected data from a random sample of 800 voters in his state asking whether or not they would vote to reelect the current governor. Based on the results, he reports that 54% of the voters in his city would vote to reelect the current governor. Why is this statistic misleading? help quick plz must get this correct I will make u a brainllest differences between identical and fraternal twins What is the slope-intercept form of the equation of the line that passes through the points (3,2) and (1,5)?y=34x92y=34x+72y=34x74y=34x+174 . The client was hoping for a likability score of at least 5.2. Use your sample mean and standard deviation identified in the answer to question 1 to complete the following table for the margins of error and confidence intervals at different confidence levels. Note: No further calculations are needed for the sample mean. (6 points: 2 points for each completed row) Confidence Level | Margin of error | Center interval | upper interval | Lower interval 68 95 99.7 Read and choose the correct option to complete the series of words.