What is the 1099-NEC Used and Filed With My Personal Tax Return?

One of the most significant updates that taxpayers of 2020 received was the reintroduction of the 1099-NEC form. Whether you are a payee or taxpayer, knowing what 1099-NEC is essential for you. This becomes important, especially for businesses who hire freelancers, independent contractors, and self-employed people. 1099-NEC form is used by non-employees, meaning independent contractors … Read more

Common S-Corporation and LLC Tax Errors

If you have heard that once you become an S-Corporation or LLC, you can save a boatload on taxes, you are not alone. The idea of paying lower tax bills have unfortunately catapulted S-corporations. What is important to understand is that S-Corporations liability is different from a standard corporation. One of the most significant mistakes … Read more

Why You Should Find A CPA After Forming An LLC

After forming your LLC (limited liability company), you need to hire a CPA (certified public accountant). Hiring an accountant for a new business is a necessity, especially if this is your first business. Having a certified accountant on board will ensure all taxes and finances are taken care of properly. Employing an accountant frees up … Read more

Do I Need A CPA For My Business?

If you own or are currently building a business, you’re probably wondering whether you should hire a CPA. A Certified Public Accountant would help you organise, plan and reach your financial goals. Some business owners decide against hiring a CPA and tackle their financial tasks themselves. We’ve put together a simple guide that will tell … Read more