Accounting for Small Business, especially for any creative person I know may be your biggest stressor. Crunching numbers can get overwhelming. But without the proper preparation and tracking not having the right cash flow can be the difference between you being a thriving business and closing your doors.
Category: Bookkeeping
With February 1st approaching, it is time for 1099 filing. There is a need for attention to details and avoidance of possible mistakes as you fill the form 1099. There are penalties for every form that you fail to send out before February 1st ends, with the penalties increasing with each passing day.
In follow up from Things to Keep in Mind with Independent Contractors, I thought it would be appropriate to write about 1099s because of the time of the year, 1099s are due January 31!
The end of the year is a traditional time for employers to give gifts to their employees. While it is customary to think of gifts as having no tax consequences for the recipient, the IRS does not treat all gifts the same.
Creating a budget is no fun. It’s even worse if you’ve never actually created a budget before and this is your first time. It’s a bit intimidating. Traditionally, a budget is created for an entire year at a time, with amounts shown for each month of the year. For any first-timers, here’s how you can get started today.