SJG Blog
The Importance of Filing Business Returns in Advance of the September 15 Tax Deadline.
Don’t Leave Money on The Table. Does your CPA always wait until the last minute? Do they not get your returns filed until the due date and then you’re scrambling to review and make sure there are no errors?
New Mileage Reimbursement Rates!
The IRS has issued a special midyear increase to the 2022 standard mileage rates due to the rising cost of gasoline. Effective July 1, 2022, there will be an increase of 4 cents for business and medical/moving mileage.
Understanding Forms 1099-NEC and 1099-MISC Filing Requirements for Businesses
While there are many types of “Information Returns” that businesses are required to file, the most common for our business clients are Forms 1099-NEC and 1099-MISC. Filing Requirements for Form 1099-NEC Generally, you should file a 1099-NEC form to report “Non-Employee Compensation” for all vendors that are not incorporated and
Automobile Standard Mileage Rates Increase for 2022
The IRS has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. The standard mileage rate is often used by employers to calculate the amount to be reimbursed to employees for the mileage they drive
What is a W-9 and Why Do I Need It? Back by Popular Demand.
Form W-9 is an Internal Revenue Service form which is used to request and confirm the name, address, and taxpayer identification information of a taxpayer. Purpose of Form W-9 An individual or entity who is required to file information returns with the Internal Revenue Service (IRS) must obtain their correct
Which Business Financial Records Should I Keep? And For How Long?
All businesses, whether large or small, produce an array of records. Maintaining and retaining these records is more than a matter of keeping items in case they are needed for reference or if a business is audited in the future. Knowing how long to keep accounting and financial records for
Featured Posts
Understanding Forms 1099-NEC and 1099-MISC Filing Requirements for Businesses
While there are many types of “Information Returns” that businesses are required to file, the most common for our business clients are Forms 1099-NEC and …
What is a W-9 and Why Do I Need It? Back by Popular Demand.
Form W-9 is an Internal Revenue Service form which is used to request and confirm the name, address, and taxpayer identification information of a taxpayer. …
New Mileage Reimbursement Rates!
The IRS has issued a special midyear increase to the 2022 standard mileage rates due to the rising cost of gasoline. Effective July 1, 2022, there will be an increase of 4 cents for business and medical/moving mileage.
