The size of your business and the complexity of its finances often dictate how arduous tax season will be when it comes time to gather the necessary records. You may need a few weeks, or you may need to start thinking about tax season starting in Q4. Everyone,...
Don’t let tax season sneak up on you. From bank statements to payroll, there are a number of critical documents your tax preparer will need to report your company’s income and help you maximize your deductions and tax credits. The more thorough a picture you paint of...
The end of summer prompts many of us to think about how quickly the next few months will pass. For your business, it likely spurs you to assess whether your revenue goals are being met and determine whether you need to make adjustments. To optimize your bottom line,...
No recent Supreme Court ruling has rocked the business world as much as the Wayfair decision that introduced sales tax nexus. The narrow 5:4 verdict on South Dakota v. Wayfair, Inc, et al opened a floodgate of responsibilities for businesses to collect and remit taxes...
The 2021 tax season is unlike any before. With filing deadlines just weeks away, businesses are grappling with the challenges of the ongoing COVID-19 pandemic while also waiting on lawmakers and regulators to decide key issues impacting 2020 business taxes. Tax...
Prior to 2020, Form 1099-MISC was standard for non-employee compensation (NEC). This is no longer the case. Beginning with tax year 2020, employers should use Form 1099-NEC to report non-employee compensation. Here’s what you need to know to file correctly by the 1099...
