Did you pay someone to help with your business? If so, you might need to
file a W-2 form for an employee or a Form 1099-NEC for contracted help.
If you have bona fide W-2 employees, you’re probably already withholding
taxes and you know those W-2 for...read more
Do you want to drive away with massive vehicle tax deductions? Before
you race to the tax-filing finish line, there are things you need to
know to ensure that tax win! While vehicle deductions can be huge,
there’s a great responsibility to thoroughly...read more
You don’t know what you don’t know! For example, did you know that many
self-employed taxpayers qualify for a health insurance tax deduction? Or
did you know that if you don’t file the proper forms for employers and
contractors (on time), the IRS cou...read more
Having a business is both exciting and rewarding! But it can be
confusing if you don’t know what it means for your tax returns. Whether
you’re starting off and plan to conquer the world with your new
business, have a side gig for a little extra cash,...read more
We are buying out the owner of an incorporated company over the next 2
years. We make monthly payments to the owner. Should I enter the former
owner as a contractor, book the payments in payroll, and 1099 him at the
end of the year? Thanks!
I have just formed a single member LLC on April 1. I’m going to elect S
Corp status. I have been operating as a sole proprietor for a while
before this. My question is do I start my books fresh or import
everything from this year so far from Jan 1? I...read more
My K1 (Form 1065) only has line 8 - Net short-term capital gain (loss):
$-102. There is a K3 attached.Part II - Section 1 [Gross Income] is all
blank, there is just a $0 on line 24 column (g) Total. Part II - Section
2 - [Deductions] has $102 on line...read more