New Tax Form for 2020 Filing
Before this year, freelancers or small businesses who hired contracted workers, would either issue or receive a 1099-MISC.
Now, the IRS has introduced the new Form 1099-NEC. This new form is just for reporting independent contractor income, or “non-employee compensation”. If you work with contractors or do contracting work as someone who’s self-employed, there are a few things you need to know. Read More
Does Your Bank Serve Your Needs?
While all banks will hold your money, they each have their own pros and cons. What is a great fit for my business may not be the best fit for yours.
With banks moving to a remote work model due to COVID-19, it is even easier to differentiate banks based on your needs. Do they have user friendly digital banking services? What is their data availability? Do they offer convenient online services and consistent customer experience? Some banks have handled the changes better than others. Read More
Second Round of PPP Is Available!
Recently, President Trump signed a new bill to help relieve small businesses from economic distress – this is the second round of PPP.
Many small businesses were able to take advantage of the first round of PPP through the CARES Act. There were a few hiccups in the program so updates were made to ensure businesses are able to access the funds they need to stay open.
Below is information to help determine your eligibility and explain the loan terms and loan amounts granted. Read More
Catch up on Your Bookkeeping Before Tax Season Begins.
Catch up on Your Bookkeeping Before Tax Season begins at end of January.
Having tax-ready books can help you comply with IRS recordkeeping requirements and file an effective and accurate tax return. It can be tempting to put it off, but catching up before tax season will make life much easier. Read More