Kathryn Hauer

CFP®, EA
Personal Finance, Retirement, Taxes
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“Kathy, author of "Financial Advice for Blue Collar America," helps you plan and manage your money while teaching you about financial matters and financial safety.”
Firm:

Wilson David Investment Advisors

Job Title:

Financial Planner

Biography:

I fix things. My specialties are financial planning, financial literacy education, taxes, and investment advice, but over my 30-year career, I've been able to help people fix problems with money, construction projects, meetings, sentence construction, culinary disasters, and academic difficulties.

I wish I were like Samantha of the TV show Bewitched and could just twitch my nose to repair everyone's problems. Unfortunately, no magic erupts when I twitch my nose. I help clients using my knowledge, experience, and hard work...although I like to think that our working together has its own magic. My work as a lecturer, teacher, copy-editor, writer, presenter, negotiator, researcher, and office manager in a diverse cross section of business, educational, and government organizations has helped me gain the depth of knowledge needed to advise my clients in all aspects of sound financial planning and investment. I have been described as a fast, cheerful, flexible worker who rapidly resolves unexpected problems and project difficulties. I manage work quality and time based on guidelines provided and use my talents to provide customers with top-notch service.

As a champion for financial literacy, I speak at high schools, libraries, career fairs, churches, businesses and community groups - anywhere I can get a platform! - to raise awareness about financial knowledge and safety. I recently published "Financial Advice for Blue Collar America" which offers guidance on basic concepts of money including insurance and taxes, financial traps to avoid, how to pay for college and tech school, and info about the bright future ahead for blue collar careers.

Education:

BA, College of William and Mary
MA, College of William and Mary
MBA, University of South Carolina

CRD Number:

6380680

Disclaimer:

By choosing to work with this Advisor, you acknowledge that neither Wilson David Investment Advisors nor this Advisor makes any representations or promises that the services you receive are appropriate for you and your business or guarantees any specific outcome or results. Wilson David Investment Advisors does not guarantee the suitability of the Advisor for your particular needs and does not endorse the advice and services rendered by any Advisor. Wilson David Investment Advisors is a registered investment adviser registered in South Carolina and GA through FINRA. Any commentaries, articles or other opinions herein are intended to be general in nature and for current interest. All content on this website is presented as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. All investments involve risk, including loss of principal invested.  The answers presented on Ask an Advisor should be considered general information presented to inform the public. They are based on the information provided in the question, which may have omitted important details that would have changed the answer had they been known. Please consult a financial advisor before concluding that the information is relevant to your own situation.

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    Taxes, Income Tax
I already filed my income tax return, but my employer sent me another W2 form(1099 tax).
100% of people found this answer helpful

Hi!  Thank you for writing!  How frustrating…that has happened to me with young people who I do taxes for.  In one case, the person forgot about the second W-2, but the fact was the tax return had been submitted, so an amended return had to be submitted. In another case, I just let it go because it was such a small amount earned.  The IRS noticed it, sent a letter asking for the difference, and the taxpayer paid it.  That may happen in your case.  If not, and you want to make it right, you can do an amended tax return. Doing an amended return is not hard and doesn’t take that long.

You've already received your refunds, but other taxpayers needs to wait to do their amended return until after they receive their efund or until after  funds clear  the bank if they owed money.  Another thing to note is that you have to do a paper amended return that you mail in, at least as I write this answer in 2016.  I imagine that someday amended returns will be able to be submitted online via e-file, but right now they are not.  Here is the link for the 1040X form - https://www.irs.gov/pub/irs-pdf/f1040x.pdf and here is the link for the 1040X instructions - https://www.irs.gov/pub/irs-pdf/i1040x.pdf.  Even if you paid someone to do your taxes, you can probably figure out how to the 1040X yourself and save the cost of paying someone to do it.  If you make a mistake, the IRS will send you a letter correcting the mistake and letting you know that you owe more money or that you overpaid.

One note – you say in your question above that this is actually 1099 income rather than W-2 income. In that case, if you earned over $400 you may need to pay self-employment tax and probably file Schedule C, but you may have already done that assuming that some of your other income was 1099 income. I better not get into the specifics of W-2 vs 1099 income in the scope of this answer, but you could write back with another question if this situation applies to you. This link will provide some info - https://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-Asked-Tax-Questions-&-Answers/Interest,-Dividends,-Other-Types-of-Income/1099-MISC,-Independent-Contractors,-and-Self-Employed/1099-MISC,-Independent-Contractors,-and-Self-Employed-1.

Keep in mind that you will also need to amend your state return, too. Depending on where you live, you might be able to file the state amended return online.  We live in South Carolina where an amended return must be mailed, but in New York, where our daughter lives, you can submit an amended return online.

Sorry for the hassle, but hopefully it won’t take you too much time!  So glad you wrote, and please write back if you have more questions for us.

May 2016
    Financial Planning, Asset Allocation
Are there some go to books for financial planning or asset allocation that you would recommend?
100% of people found this answer helpful
August 2016
    Estate Planning
How should we settle my mother's estate?
100% of people found this answer helpful
June 2016
    Debt
How should I handle my current debt situation?
100% of people found this answer helpful
September 2016
    Career / Compensation, Starting Out
Is it normal to get a 64% and a 62% on the Series 6 and 63; respectively?
100% of people found this answer helpful
June 2016