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
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
Knowing how to tell the difference between issuing a W-2 form and a 1099-MISC form can be a little confusing, especially if you are part of a company that deals with many different types of workers. However, knowing which worker is an employee and which one is a contractor is important for your business so
Who To Send A 1099-MISC Form To? Posted by Tom Taulli (@ttaulli) operates MasterCFO, which provides income tax preparation and tax problem resolution for individuals and businesses. I recently got the following question from a tax client: “Last year I paid $1,000 to someone to build my website. But his business is an LLC. I
Each year we get questions on who falls into the category to receive a 1099-MISC. Below is a excerpt from the IRS.gov (minus a lot of jargon) that can help a reference on who is required to get a 1099-MISC for work or services performed over the calendar year. As you will see basically it
