A 1099-NEC is an information return form that reports nonemployee compensation (i.e., payments to someone other than an employee of your company) and is probably one of the most misunderstood business requirements of the IRS. Every year when January rolls
Setting clear and achievable goals is critical for your business’s success. Effective goal- setting provides you and your team direction, motivation, and a framework for measuring progress. Here is a short guide on how to set goals for your business:
Have you gotten to the point in your business where it might be time to hire some help? If so, it’s important to understand and correctly apply the rules for classifying a worker as an employee or an independent contractor.
Maximizing profits and minimizing expenses is vital as a small business owner- especially in times of economic uncertainty. However, it’s essential to do so without hindering growth. So how can you strike a balance between cutting expenses and continuing to
As a business owner, you wear a lot of hats. Business development, operations manager, HR director and many more. With all of the hard work that you put into growing a healthy company, I’m sure one of your goals is
A question we hear often is “Should I invest into a Roth IRA or a Traditional IRA”? What’s the difference between the two? Is one better than the other? Hopefully this will provide a bit of clarity! Both Roth IRAs
One way that you may be able to lower your taxes is by taking the home office deduction! If you are a business owner and work from home, you may qualify for the deduction. You can take this deduction if
With another quarterly estimated tax payment right around the corner (remember, these federal payments are due April 15th, June 15th, September 15th, and January 15th) you may be wondering what all this talk about estimated taxes is even about. Do
A question that I frequently get from entrepreneurs is this: What can I do to reduce my tax liability? Fortunately, it’s a pretty simple answer. The most important step in successful tax planning is keeping up with your record keeping
Why is Monthly Bookkeeping Important? Bookkeeping is a task that many business owners dread and often times put on the backburner when they are prioritizing what is most needed of them to run their business. Unfortunately, bookkeeping is a vital
