Here’s what you need to know about Form 1099
The IRS requires 1099s to be issued to track income and, in some cases, income movement. So, you’ll have a smooth tax season if you act on every 1099 received and report all your income.
The IRS requires 1099s to be issued to track income and, in some cases, income movement. So, you’ll have a smooth tax season if you act on every 1099 received and report all your income.
What do the Mafia and fruitcake have in common? They’ve both been used by forensic accountants to help businesses ensure accounting oversight. Forensic accounting is a type of accountancy that involves deep and often complicated investigation of business and finance data. It has put Al Capone in jail and uncovered one of history’s most prominent […]
Running a small business is not for the faint of heart. Regardless of the size or complexity, there’s a lot to consider. As a small business owner, you must manage marketing, inventory, customer service, and many other things. Not least among your concerns is business tax. However, they aren’t always complicated, and some small business […]
Did you feel that hint of cool breeze in the air? Yes, fall is on the way. Football games, travel opportunities, and many other activities beckon people around the country to get out and enjoy the good life. And while the weather is cooling, inflation is running hotter than ever. But don’t let that put […]
Last week we discussed building generational wealth, and we mentioned starting a 529 plan for your child’s tuition. If your child can graduate college debt-free, that gives them a considerable advantage in entering the workforce. But there is much more to the 529 plan than what was covered in the generational wealth article. So, this […]
The economic ocean in the United States has been clear and calm for the last decade. Cheap lending rates made some bad stocks seem good. They also brought in a lot of new money into other investments like real estate and cryptocurrency. But with the Fed raising interest rates, the tide is pulling back quickly. […]
Businesses have enjoyed over a decade of interest rates that barely registered on balance sheets. Unfortunately, that low interest environment has made it easy to forget what to do when the Federal Reserve does raise rates. Some of you have been there, but it’s been a while. Others may be navigating uncharted waters. Either way, […]
The Federal Reserve made its biggest interest rate hike in 22 years, and more are on the horizon. In an environment like this, where inflation is outpacing personal income and the investment outlook is murky, it can be easy to get lost in confusion. International strains like the war in Ukraine and ongoing pandemic restrictions […]
News flash. Building strong, trusting business relationships is essential for long-term success. Okay, maybe that’s pretty obvious, but it is certainly easier said than done. At least in the U.S., business systems are built around a sense of competition. And that competitive fire can lead to dog-eat-dog environments where ethics and relationships are jettisoned in […]
Accounting is one of those subjects business owners tend to ignore. Because, let’s face it, there’s a lot to do as an entrepreneur, and digging into finances can be confusing and scary. But the words of Marcus Lemonis always ring true; if you don’t know your numbers, you don’t know your business. Of course, […]