You don’t need to know HOW to file a tax return (that’s our job!) but you do need to know WHEN to file a tax return. Not everyone is required to complete a tax return but if you fall under any category eligible to complete a return then you must.
New year, new tax season! We’re kicking off a whole new round of tax tip Tuesday’s to make sure you or your business stay on track. With the start of the tax season comes the preparation of tax forms. Most are aware of issuing and receiving W2s by the end of the month but a commonly forgotten tax form to issue is the 1099-Misc. Forgetting to issue this form could cost your business a pretty penny. This week topic: when a business must issue a 1099-Misc If this is the first time you are hearing ‘1099’ don’t feel bad, chances
A credit report is the most important document of your financial life. Banks, landlords and sometimes potential employers all check your credit report to make decisions about your financial reliability — whether they want to lend to you or hire you. Everyone should understand the basics of a credit report and what yours means to you. What is a credit report? Not to be confused with credit scores — your credit report is a compilation of information about the way you handle your credit and debt accounts. It includes information about how much debt you’ve accumulated, how you pay your
Duane Salonen opens the bottom drawer of his desk to reveal his stash — stickers. “If I don’t bring stickers to a meeting, they get mad now. They say, ‘where are the stickers?’ One day I was out of them, so now they keep me stocked up. Stephanie, Jody, and Jessica brought me this whole supply and now I’ll always have some.” You’re probably wondering why grown adults at an accounting firm care about stickers. “It’s all about receiving a little recognition. Over the years, I’ve learned that recognition can be one of the biggest motivators for people. They really
Tax season is over, but that doesn’t mean you should put off tax planning until next year. Most people forget about taxes after they file their return, but there’s no better time to start tax planning than right now. What if you planned all year and made conscious decisions to minimize your tax burden? What if with just a little foresight, you could simply work smarter rather than harder for change in your pocket. If you’re waiting until March, or even early April, every year to think about income taxes, you’re causing yourself unnecessary anxiety and may ultimately be losing