by Leif Jensen | Mar 18, 2024 | Running a Business |
We have picked up a couple of new clients that want to deduct their household expenses as business expenses. They have an office that they rent, but also want to write off their mortgage. They state they work from home. True they may do some work on their business...
by Leif Jensen | Feb 28, 2024 | Running a Business |
I started working with a new client and she stated in a moment of aggravation that when you start a business there are no manuals available to explain things to new entrepreneurs. Information is all over the internet, some great, some good, some bad and some very bad…...
by Leif Jensen | Dec 6, 2023 | Running a Business |
For 2023 employers need to electronically file their 1099’s if they are issuing 10 or more! Most vendor charge a $3 fee per form for submission, but you have to retype in all the information. The final regulations reflect changes made by the Taxpayer First Act (TFA)...
by Leif Jensen | Dec 4, 2023 | Running a Business |
For 2023 employers need to electronically file their W-2’s if they are issuing 10 or more! Most vendor charge a $3 fee per form for submission, but you have to retype in all the information. The information also has to be retyped to send to IL as well. Regulations...
by Leif Jensen | Nov 29, 2023 | Running a Business |
If you did not collect new W-9 from vendor’s regularly, you should start collecting them now. A W-9 has all the relevant information to determine if you need to or not issue a 1099-M or 1099-Nec to your vendor. The IRS requires businesses to report payment of...
by Leif Jensen | Oct 2, 2023 | Running a Business |
If you don’t collect new W-9 from vendor’s regularly, you should start collecting them now. A W-9 has all the relevant information to determine if you need to or not issue a 1099-M or 1099-Nec to your vendor. The IRS requires businesses to report payment of...
