The Grow Your Wealthy Mindset Podcast

Episode 145: Decoding Tax Forms: W-2, 1099s, K-1, and What They Mean for You

Elisa Chiang Season 3 Episode 145

W-2 is a wage and tax statement and is sent by an employer to an employee to show the earned income the employer paid the employee during the prior tax year.

1099-NEC (or 1099-MISC before 2020) are issued to independent contractors. 

K-1’s are issued by Partnerships, S-Corps, or Estates and Trusts to partners, shareholders, and beneficiaries to report financial information like income and earnings, losses, deductions, and credits. 

Three are a number of other types of 1099s issued to report some sort of compensation or distribution of assets as well as losses. 



Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang


Disclaimer: The content provided in the Grow Your Wealthy Mind...

People on this episode