Own a business? If you pay an independent contractor $600 or more for the calendar year, you are required to issue a Form 1099-NEC soon after the end of the year to avoid penalties.
We explain how the payroll tax deferral could affect your business.
If you own a business and have employees working remotely, you may need to take a closer look at how nexus will be addressed.
Wealth transition and succession planning were always complicated processes—COVID-19 did not do it any favors.
The WOTC is typically worth up to $2,400 for each eligible employee, but it can be worth up to $9,600 for certain veterans and up to $9,000 for “long-term family assistance recipients.”
With jobs at a premium during the COVID-19 pandemic, you might consider hiring your children to help with your business. Financially, it makes more sense to keep family employed rather than hiring strangers, provided, of course, your family member is suitable for the job. Note, however, that wages paid to children and other relatives aren’t…
In June, the National Bureau of Economic Research announced the U.S. is officially in a recession. It’s important to take steps now to prepare and protect your finances.
With billions left to be distributed in Payment Protection Program money—why did Congress have to extend the PPP in the first place?
CARES Act Update: Additional Guidelines Regarding Coronavirus-Related Distributions from Tax-Deferred Accounts
The IRS has issued guidance to assist employers and plan administrators on how to report coronavirus-related distributions and how individuals may report these distributions on their individual federal income tax returns.
Behaviors have changed during the Coronavirus outbreak. We list five of these that could end up being positives for small businesses moving forward.