October 2020

Backup Withholding? What is it?

Many businesses choose to focus on their core competence by outsourcing services from other organizations or individuals. We often refer to them as Subcontractors, Contractors, or outside services. As the year-end approached, companies who paid for these outside services require to report to the IRS the amount they paid by filing form 1099 – Misc. […]

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Navigating Through Health Insurance Renewal

Accounting

Group health insurance is an essential part of employee benefits planning. Every year employers across the United States must handle new sets of health insurance premiums base on the group’s risk factor and claim history. Subsequently, an employer has to update payroll deductions for each participating employee anytime health insurance is renewed. This revision allows

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