Monthly Archives: January 2016

Does Your Business Need to File Form 1099?

  Forms 1099 are due to recipients by February 1, 2016. You may be most familiar with Form 1099-MISC, which you use when your business makes miscellaneous payments in excess of $600 for services to non-employees. What are miscellaneous payments? Reportable payments can include fees for services paid to independent contractors, such as consultants, lawyers, and cleaning services. Generally, you… (more…)

Take time to review the health of your business

As an owner and/or manager, you probably spend a lot of time monitoring business operations and dealing with everyday problems. But a longer-term approach is also useful. Just as an annual checkup from your physician helps monitor and manage your personal health, an annual checkup can do the same for your business. Here are tips to get started. 1. Insurance… (more…)

Keep Track of These Upcoming Tax Deadlines

 January 15 – Final 2015 individual estimated tax payment is due, unless your 2015 tax return is filed and taxes are paid in full by February 1, 2016. January 15 – Due date for calendar-year trusts and estates to pay final installment of 2015 estimated tax. February 1 – Employers must furnish employees with W-2 statements for 2015. Payers must… (more…)

Did you pay domestic employees in 2015?

Nannies, housekeepers, caregivers – the people who make your home life easier – are your employees, and you’re required to comply with income and payroll tax rules. For 2015, you’ll need to withhold social security and Medicare taxes when you pay your worker $1,900 or more during the year. You’ll also need to provide year-end tax forms and wage statements… (more…)