Category: Payroll

What you need to know about the new 1099-NEC

If you own a business or are a freelancer/subcontractor to businesses, you are most likely very familiar with the 1099-MISC form.  This form has been used for the past 30+ years to report certain payments including payments to subcontractors, freelancers, service providers, landlords and attorneys. As if there haven’t been enough changes in 2020, there… Read More »

1099-MISC Confusion – Deciphering the Rules

In recent years there have been some significant changes to the rules regarding issuing a 1099-MISC Form. It used to be easy. If you paid someone $600.00 or more you needed to send them a 1099-MISC (Ok, so that is a bit of generalized statement) by January 31st, and the IRS copies by February 28th.… Read More »

Are You Ready for the New Overtime Rules?

On December 1, 2016 new overtime rules go into effect for salaried employees. Wait, salaried employees don’t get overtime, right? Not exactly, the previous rule stated that a salaried employee making more than $23,660 per year was exempt from overtime. However, the majority of salaried employees are hired at a higher annual salary than that… Read More »

Refining Your Filing

If you are like most small businesses, you have two sets of files going through March. Last year’s files are still in your cabinets and you’ve started creating this year’s files. For many the system is one that has been developed, changed, honed, tweaked, changed again, tweaked again, and again and again until you’ve found… Read More »

Who Should Get a 1099?

It is that time of year again, Form 1099s are being worked on, many may have already been sent. So, if you are a new business owner, or one who hasn’t been “as good about this as I should be”, here are some guidelines for sending out your 1099s. Please note, in this blog piece… Read More »

Get Ready… It Is Year End Again!

With 2016 just around the corner, and the holidays looming, you should be planning for year-end. Don’t you just love that phrase…”plan for year-end”. You hear it all over the place at this time of the year, on the news, from your accountant, on social media, but what does it really mean? What should you… Read More »

Do I Need To Upgrade to QuickBooks 2016?

QuickBooks Desktop 2016 is now out and available for purchase or download. So you ask, “Do I need to upgrade?” Well, the answer is that depends on which version you are currently using and what functions you use regularly. In May of 2016 Intuit will “sunset” QuickBooks Desktop 2013. Although the list of functions that… Read More »

Are your Sub-Contractors Really Employees?

Hiring sub-contractors, also called 1099 contractors, independent contractors or even 1099 employees, can be beneficial to small businesses. These vendors can provide highly skilled services, can give your company flexibility in handling changes in work-flow, and there is the potential for cost savings over hiring an employee. However, it can also be quite detrimental if… Read More »