With tax season on the way, the IRS reminds businesses that the deadline for filing pay statements and paperwork for independent contractors to the government is Jan. 31. Employers must submit copies of Forms W-2, Wage and Tax Statement, and W-3, Transmittal of Wage...
As tax season approaches, keep an eye out in the mail for envelopes labeled “tax information.” Among the numerous items they may include are several sorts of 1099 tax forms. But what are they used for, and why are they required? Let ‘s see. A 1099...
The Corporate Transparency Act (CTA) has gone into effect as of January 1, 2024, affecting millions of small businesses across the United States. Understanding the complexities of this legislation and its possible implications is critical for small companies....
Opening an additional location for a business is a significant choice that can have long-term consequences for your company. Finance executives have a critical role in making the best choice, particularly in terms of cost. Work with Human Resources Firstly, the HR and...
When a family member hires an individual, the tax consequences vary depending on the connection to that family member, and the business type. It is critical that individuals and employers know their tax status. Here’s what you should know: Married people in business...
There are several parallels between being self-employed and owning a small business. For instance, both empower you to be your own boss! However, when it concerns filing taxes and reporting company revenue, your official business classification might signify quite...
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