Issuing 1099s: What You Need to Know
The Internal Revenue Service requires that Form 1099s are issued by January 31. This means that you can’t wait until tax time to determine if you need to be issuing these important documents. What Is a 1099? A Form 1099 refers to one in a series of IRS tax forms used to document income other…
Small Business Expense Tracking
Congratulations! You’ve started working for yourself. Whether you are now the owner of a small business or have just started a new side hustle, expense tracking is key to your tax preparation success. Expenses detract from your taxable income, providing an accurate picture of what you actually took home. How Do I Track Expenses? As…
When to File a Tax Extension
Did tax season sneak up on you? Were you delayed in receiving documents through the mail? We can relate. The pages on the calendar seem to turn faster and faster. The deadline for filing federal income taxes is Monday, April 18, 2022. However, if you’re still gathering your documentation, you may need to file an…