Right from 2021, IRS has been steadily making changes in 1099s & W-2s to make the filing more efficient and accurate in terms of compliance and reporting. While it has updated 1099-MISC, 1099-NEC, it has also made quite a few changes to 1099-K as well. As a trusted remote accounting firm that specializes in 1099 and […]
More income doesn’t necessarily mean a high tax rate especially when you have a tax consultant or financial advisor who can help you manoeuvre the menacing federal tax policies. There are plenty of tax reductions strategies one can employ to reduce their tax burden which most high-income earners are not aware of. So in this […]
Revenue leakage from poor year-end tax preparation is one of the most common — and most preventable — growth killers for small and medium businesses. While sales and operations tend to dominate the attention of business owners, tax planning quietly determines how much of that revenue actually stays in the business. Effective tax planning and […]
If you are a small business owner then you are well aware of how busy year-end can be when it comes to having your books balanced. We understand you have to juggle multiple responsibilities and accounting is not exactly your top priority. But if you have been through year-ends in the past then we know […]
The end of the financial year can be the most daunting period for small businesses when it comes to bookkeeping and accounting. With so many things on their plate, a small business owner had to don many hats to take care of day to day business and this naturally can strain the bookkeeping and accounting […]
You don’t need to be an accountant to run a successful business — but you do need to understand the language your finances speak. The basic financial statements for small business are the foundation of that language. They tell you whether your business is profitable, how cash is actually moving, and what your company is […]