Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee.
Here are some of the key Q4 tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. […]
COVID-19 has affected small businesses in ways they never could have imagined. It’s more important than ever to have an […]
Illinoisans are being asked to vote on a “Fair Tax” in November. Most of the information being provided is focused […]
Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the […]
While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to start-up new […]
In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize […]
The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA Basics An HSA is a trust […]
The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program […]
At the moment, tax rates are at historic lows. We have record deficits and are looking to add more. Where […]