1099-NEC vs.1099-MISC – what form is right for you?
Here are some things to consider when choosing the right form for your 1099 filings: 1099-NEC form report payments of more than $600 to non-employed individuals (including independent contractors and freelancers); formerly reported on 1099-MISCs, Box 7. By February 1, 2022, 1099-NEC copies A and B must be submitted to the IRS and to recipients,…
Read MoreA year-end to-do list for small businesses from Halsey Resources
It’s easy to get spooked by year-end to-do lists after Halloween. However, this is an ideal time for small business owners to review their operations and make some important decisions. You’re more likely to enjoy a relaxed holiday season and a financially sound new year if you assess your business year, bookkeeping, and record-keeping as…
Read MoreWhat you need to know about the WA Cares Act and Long Term Care Insurance
1/19/2022: We are noting that the Washington State Legislature extended the deadline for Long Term Care Law until July 2023. Read this announcement as reported by KUOW: https://www.kuow.org/stories/washington-house-democrats-vote-to-delay-long-term-care-tax-for-18-months In Washington State, a new law is going into effect on January 1st that will require long-term care insurance for all. This mandatory benefit can help protect…
Read MoreUnderstanding Virtual Accounting Custom Reports
Virtual Accounting Custom Reports offer features that can help you save time and stay organized. In addition, you can use them to track your profit margins, cash flow, and balance sheets. These reports also allow for real-time data updates so you know what’s happening with your company at all times. Here are five things to…
Read MorePPP Round 2 Employee Retention Credits
Did you know you may be eligible to claim the Employee Retention Credits on your 941s, which can lead to substantial amounts of money? We want to make sure that you are getting all the credits that are available to you. The Paycheck Protection Program (PPP) and the Employee Retention Tax Credit (ERC) were both…
Read MoreEIDL Grant Program – What you need to know
Are you a small business owner looking to expand your company? If so, the EIDL Grant Program may be for you. The EIDL Grant Program is designed to help businesses grow through strategic planning and priority investments in their operations. What is the EIDL Grant Program? The EIDL Grant Program is a great opportunity for…
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