Tips for Filing Form 1099-MISC and the new 1099-NEC
Previously, Form 1099-MISC was filed for each non-employee (independent contractor) to whom you have paid at least $600 (cash or check/ACH) for services performed for your business. This year, those payments will be reported on the new Form 1099-NEC.
Investing in your Business
Now is a great time of year to think about investing in your business. There are going to be plenty of upcoming sales this quarter (for software, digital products, and physical products) so let’s talk about how you can time it right to invest in your business at a great price.
A Fresh Start for a Strong Finish
Q4 brings the possibility of a fresh start for a strong finish. Right now, many business owners are still feeling overwhelmed and disheartened as they manage massive change in their business and personal life.
Getting a Jump Start on Year End
Many of you just filed your 2019 taxes a few weeks ago. Hopefully it was a smooth process, but I know you may have been scrambling at the last minute to get everything together.
The Basic Monthly Close
We are nearing the end of the month so now is the time to start planning your monthly close. If you can block off some time to focus specifically on this during the first or second week of the month, you'll thank yourself later.
IRS Update re: Tax Filing Deadline and Coronavirus
This is an update to earlier this week when only the payment deadline was moved. Now the filing deadline itself is moved to July 15th!
IRS Update re: Tax Payment Deadline and Coronavirus
If you owe a payment to the IRS, you can defer up to a million dollars as an individual. And the reason why we’re doing a million dollars is that covers lots of pass-throughs and small businesses, and $10 million to corporations, interest-free and penalty-free for 90 days.
Resources for Small Businesses and Entrepreneurs during the Coronavirus Outbreak
Keeping a list of resources going here from items I've mentioned on Instagram so you can easily grab whatever you need in one go.
IRS Update!!!
The IRS posted an update in response to recent storms in Tennessee.
The Monthly Review
Each month it's an essential practice to complete a monthly review where you assess how your business performed during the prior month and what changes you can make in the current month to strengthen and grow your business.
The Annual Report
If your business is registered with the state (Corporations & LLCs), you are probably required to file what’s called an annual report with your state.
Tips for Filing Form 1099-MISC
Typically, Form 1099-MISC is filed for each non-employee (independent contractor) to whom you have paid at least $600 (cash or check/ACH) for services performed for your business. When reporting non-employee compensation, the filing deadline is January 31.
Year-End Prep
We're officially one week out from the close of Q3 and the start of Q4! What are you doing to prepare? Personally, I'm listening to PwC's "The quarter close - Q3 2019" to make sure I'm up to date on the latest in accounting and financial reporting.