Financial Tips & Resources
Whether you are looking for tips and resources to help with your taxes or looking to plan for your retirement and need access to useful tools to pick the right insurance products for you, the Skyrocket Tax Service blog is your one-stop resource to give you a head start!
Introduction: The Interlink of Health and Wealth Ah, the blissful union of health insurance and taxes. Two things most people adore talking about, right? Jokes aside, if you’ve availed health insurance through the Marketplace, you’ve likely encountered Form 1095-A. Let’s unravel this document and its significance in your tax journey. Decoding Form 1095-A Form 1095-A, known as the Health Insurance Marketplace Statement, is essentially a proof of insurance. It provides details about the insurance you’ve
Introduction: Global Assets, Local Taxes In an age of globalization, it’s not unusual for individuals to have assets or trusts in foreign countries. But with global assets come local tax implications. Enter the Form 3520. If this form is a new acquaintance, allow us to introduce you. Deciphering Form 3520 Form 3520, also known as the Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, is a document used to
Introduction: A Welcome Mystery? Congratulations! You’ve received a 1099-G form in the mail. But wait, what is it exactly? If you’re scratching your head, perplexed by this piece of paper, fret not. We’re here to demystify the 1099-G and guide you through its intricacies. The 1099-G Unveiled The 1099-G form, or Certain Government Payments, is a document you receive if you’ve been paid certain types of government benefits. The most common reasons you might get
The Enigma of Earnings Ah, the elusive Form W-4, often regarded as the unsolved riddle of the payroll world. If you’ve ever started a new job or had significant life changes, chances are you’ve encountered this form. But what is the Form W-4, and why does it matter so much? Buckle up, dear reader, as we embark on a quest to decode this paycheck puzzle. Breaking Down Form W-4 Form W-4, officially known as the
IntroductionThe world of tax forms can be daunting, and just when you think you’ve got it all figured out, along comes another form you’ve never heard of. Enter Form 8862. If you’re scratching your head wondering what it is and how it affects you, fear not! We’re here to help you navigate the complexities of Form 8862.What is Form 8862?Form 8862 is a document you must file if the IRS has previously disallowed certain credits