In order to report revenue for independent contractors and other non-employee payments, the 1099 forms are necessary tax documentation. The 1099-NEC and 1099-MISC are two frequently used forms. Despite their apparent similarities, they have distinct functions. This guide explains the…
Hiring a Certified Public Accountant (CPA) to prepare your taxes can make the process smooth and error-free. CPAs are trained professionals who understand tax laws and regulations, making them an excellent choice for both individuals and businesses. But how much…
For LLC owners, staying on top of tax deadlines in 2024 is crucial to avoid penalties, interest, and other costly issues. Meeting each LLC filing deadline not only keeps your business in good standing but also ensures that you’re in…
When tax season rolls around, many people worry about collecting all their receipts for deductions. But did you know there are certain IRS tax deductions you can claim without receipts? Understanding what deductions you can claim without receipts can simplify…
If you own a home in a community with a homeowners association (HOA), you’re likely paying monthly or annual HOA fees to cover shared amenities and maintenance in the area. But come tax season, you might wonder: Are HOA fees…
Why Knowing QuickBooks Basics MattersUnderstanding the basic functions of QuickBooks is important. When you know how to use QuickBooks, you can manage your finances smoothly and avoid mistakes. Mastering the basics can make everyday tasks like tracking income, managing expenses,…