Not every aspect of your business requires a permanent employee. For many business owners, hiring a contractor is a great way to execute tasks that require skilled labor or short-term support. Need a logo designed, a cleaner, a consultant, or someone to develop a marketing plan or decorate your store? The options for hiring a
Since the time businesses began having to report employee and contractor wages to the IRS and SSA, filing has been a bit of a hassle. Let us paint you a picture here. In the beginning, business owners would have to order W-2/1099 forms and software from a catalog (using a fax machine. Oh the horror).
Having just reached the start of November, tax season may still be the furthest thing from your mind. The truth is, it shouldn’t be. As a small business owner, taxes and specifically, the forms associated with them, are crucial to have on your radar all year long. Equally as important is having a comprehensive understanding
A 1099-MISC form is a form that records payments of $600 or more made that year to a contractor. One of the elements that need to be present on a 1099-MISC form is the taxpayer identification number. The taxpayer identification number (TIN) is a number used to identify a person for tax purposes. This TIN