The 2017 tax filing season will be a challenging one for businesses and their CPAs. On top of the new Affordable Care Act (ACA) compliance requirements, the IRS has condensed its schedule and deadlines for filing W2s and certain types of 1099s for employees and independent contractors. These filing deadlines will now be moved up […]
New W2 and 1099 IRS Filing Deadlines for 2017 Read More »
1099 filing deadlines are fast approaching. The IRS requires that you send a 1099 to any independent contractor you paid over $600 to during the 2014 tax year. The deadlines are as follows: January 31: All 1099s must be received by recipients. There are two exceptions; attorneys and substitute payments in lieu of dividends can
When Should You Send a 1099 to an LLC? Read More »
Tax time is here again, and while individuals have until April 15 to get organized and file, the deadline is much sooner for some of the paperwork required for small businesses. The most common requirement for businesses is the W-2, which is needed for all paid employees and must be in the mail by January
1099 MISC Small Business Filing Requirements for 2012 Read More »
No one wants to pay more to the IRS than they should, right? Well one way to ensure that you don’t pay penalties is to know the important tax filing dates they have established. We all hear about “April 15th” but what we don’t hear about too often are the other dates that business owners
The 5 Critical Tax Deadlines You Need to Know Read More »
Self-employed individuals enjoy unique benefits, but they also have the burden of proving to the Internal Revenue Service that the expenses claimed are legitimate. Business owners need to keep proof of the expenses as well as a business record that backs up the need for that particular expense. Your accounting professional will also tell you
Self Employed Individuals Must Track Business Expenses Read More »
Taking the time to have your paperwork in order will not only make your accountant’s job simpler, it allows you to track items throughout the year. Entrepreneurs need to be cognizant of the need for precise record keeping, especially if they find the need to seek financing.
Year-End Financial Wrap Up Plans For Business Owners Read More »
Adhering to a budget is crucial to your financial success and working with a trusted accounting firm can help you formulate a business plan that puts your enterprise on a firm financial footing from the beginning.
Money Mistakes Business Owners Need To Avoid Read More »
It is estimated that there are more than eight million individuals claiming the independent contractor status for tax filing and of those, close to 90% are not paying the correct amount of taxes according to the IRS.
Protect Yourself From IRS Fines: Independent Contractor Versus Employee Differentiations Read More »
With the week of September 17 having been designated as “National Love Your Files Week” we wanted to pass along information on which files/records to love and keep and for how long. As accountants we understand the need to not only properly keep and store records, but the need to get rid of paperwork that
What Financial Records Should You Keep And For How Long? Read More »
Payroll outsourcing, many entrepreneurs find, is a bottom-line money-saver; the main reason for this is the myriad rules, regulations and filing deadlines that are associated with payroll functions and the time it takes to learn, understand and apply them. The outsourcing of payroll will also save the business owner both time and money and both
Why You Should Consider Outsourcing Your Payroll Read More »
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