SJG Blog
IRS Announces Standard Mileage Rates for 2020
Each year, the Internal Revenue Service (IRS) sets standard mileage rates for business based on an annual study of fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. Beginning on January 1, 2020, the standard mileage rates have changed.
Understanding Form 1099-MISC and Changes That Are Coming in 2020
As part two of our series on tax forms, this article explains the purpose of Form 1099-MISC, its filing requirements and upcoming changes for 2020.
IRS Form W-9 Best Practices
As Part I of our 2019 Forms W-9 and 1099-MISC Series, this article explains the purpose of Form W-9. Purpose of Form W-9 An individual or entity (Form W-9 requester) who is required to file an information return (Forms 1099) with the Internal Revenue Service (IRS) must obtain your correct
Is it Time to Consider a PEO for Your Business?
If you’re a business owner and have never heard of a Professional Employer Organization (PEO), you owe it to yourself to find out what it is and what it can do for you. PEOs provide human resources (HR), payroll processing, employee benefits, workers’ compensation and regulatory compliance assistance to small
Americans Want to Do the Right Thing When It Comes to Taxes
When you hear the words ‘taxes’ or ‘Internal Revenue Service,’ like many Americans, you may feel a mixture of dread or fear. The idea of the IRS knocking on your door or demanding an audit has long been nightmare-inducing. It may surprise you to learn that, despite its intimidating reputation,
Everything Old Is New Again as IRS Releases Draft Form 1040 for 2019
When the IRS announced that it is again changing the 1040 Form, just six months after the release of the much talked about 1040 Form for 2018, my team and I celebrated! The #1 most important takeaway is that the IRS recognized that the “postcard” sized format was not at
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.
