Extra income can begin as a hobby, occasional service, or small side project. Learn what factors may indicate that the activity is becoming a business—and how organized records can help you prepare.
Side Hustle, Hobby, or Business? How to Know When Your Activity Is Growing Read More »
Quickbooks has released a series of updates with a goal of becoming more user-friendly. Scroll through the list of Quickbooks programs below to see which updates may influence the way you use Quickbooks. Quickbooks Online: Under Expenses or Payroll, you can view a list of Contractors and their W-9s. W-9 statuses will show as ready,
Say Hello to a More User-Friendly Quickbooks Read More »
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.
Backup Withholding? What is it? Read More »
As we suspected, further guidance was provided by the SBA late May 22, related to the PPP (Paycheck Protection Program) provisional rules. Again, the detail instructions provide little remedy to the additional questions we continue to have. However, countless earlier questions were addressed in detail. As professionals, many of us rely on the statute which
The SBA Provides Further Guidance Related to the PPP Provisional Rules Read More »
Beware of tax scam emails and phone calls, IRS warns NEW YORK — Months after business owners and other taxpayers have filed their returns with the IRS, thieves try to scam people out of money or personal information. Although scammers operate year-round, the IRS says they step up their activities in the summer, when taxpayers
Beware of tax scam emails and phone calls, IRS warns Read More »
The 2017 tax year is behind us, excluding a few extensions, and I am already looking forward to the next season. This year, I was able to demonstrate and help my clients visualize what their 2018 tax season will look like based on their current year’s monetary situation. I was amazed to confirm that 99% of
Looking in to Your Personal 2018 Tax Season Read More »
The weather is suddenly cooler. Leaves are changing color. Halloween decorations fill store shelves. Suddenly, business is picking up in your small business. Welcome to fall – for many small businesses, the busiest, most hectic, and important time of the year. How will you make the most of fall in your small business? Fall is
6 ways to make the most of the fall season for your small business Read More »
RUN A BETTER BUSINESS Boost your income with these money-making ideas and tips. RyanJLane | Getty Images Whether you are new to your career or an industry veteran with 20 years of experience, it’s likely that you want to increase your take-home pay. Although we can’t guarantee you a raise this year, there are some
15 Ways to Increase Your Income Read More »
The Internal Revenue Service reminds small businesses of the many free products available to help them understand and comply with the law. Products ranging from online calculators, printable calendars, step-by-step guides and a series of educational webinars are all available on IRS.gov. Federal law requires most employers to withhold federal taxes from their employees’ wages. IRS tools can help small businesses understand
Tools to Help Small Businesses Understand Employment Taxes Read More »
IR-2017-107, June 15, 2017 WASHINGTON – The Internal Revenue Service today warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so taxpayers should be alert