Businesses: Get ready for the new Form 1099-NEC
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020, Form 1099-MISC was filed to report payments totaling at least […]
CPA vs. Accountant
Finances are an integral part of your business, so choosing the right professional to handle them is important. When it comes to accounting, you’ll want to choose between a CPA or an accountant. Each has different roles to their job. Understanding the differences will help you to make an informed decision for your business. What […]
