Category: Quickbooks

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 »

When An Expense Isn’t An Expense

  As business owners and freelancers, we pay a lot of different vendors for a lot of different things.  Most of these payments wind up on our Profit & Loss / Income Statement as expenses.  But there are a few that do not.  And these are usually the ones I get asked about.  “Why isn’t… Read More »

Stop Wasting Time on 1099s

It is that time of year…Small business owners all over the country are spending time gathering information from their vendors and independent contractors, confirming paid amounts, and starting the process of sending 1099-MISC forms. Did you know that you can avoid filing 1099-MISC forms by simply changing how you pay your vendors and independent contractors?… Read More »

Online Bookkeeping – Cons

So, last week I explained some of the benefits and positive aspects of online bookkeeping, and specifically QuickBooks Online (QBO). This week I will look at some of the disadvantages of QBO and online bookkeeping in general. Cost. I know I listed cost as a positive last week, and it can be. But if you… Read More »

Online Bookkeeping – Pros

Although this post focuses on QuickBooks Online, because that is the program I am most familiar with, the majority of these pros (and in the next post, cons) also apply to the other online bookkeeping options. Now, I’m going to be completely honest, up until this year, 2015, I was hesitant to recommend online bookkeeping… Read More »