Knowledge

Issuing accurate 1099 forms is a key responsibility for any business that hires contractors, freelancers, or other service providers. However, knowing who qualifies for a 1099 and gathering the right information can sometimes feel overwhelming. Here’s a straightforward guide to help you ensure compliance and avoid IRS penalties. Who Needs…

The end of the year is approaching, and if you’re concerned about a looming tax bill, there are still several strategies available to help minimize your liability. Whether you’re a business owner or simply looking to reduce your personal tax burden, taking proactive steps now can make a meaningful difference….

If the thought of the upcoming tax season fills you with dread because your books have fallen behind, you’re not alone. Small business bookkeeping can be a struggle for owners who have to run their business AND manage their books throughout the year. However, there’s still time to catch up…

Bookkeeping for small businesses is crucial for long term success and fiscal management, but it’s also an area where many business owners make mistakes that can impact their bottom line. Here are some of the most common bookkeeping mistakes made by small businesses and how to avoid them. 1. Mixing…

When it comes to preparing for tax season, keeping track of your receipts is essential—especially if you’re a small business owner. Properly organizing and retaining your receipts can help you claim deductions, avoid audits, and ensure that your tax return is accurate. Here are some helpful tips for keeping receipts…

When you start a business, one of the most important decisions is choosing the right structure for your company—whether that’s an LLC or a corporation. One key difference between these business types is how you, as an owner, get paid. Understanding each payroll rule can help you manage your income…