Do you have subcontractors, or others helping your business that you give a 1099 yearly? The 1099 NEC is coming and looks a bit easier and certainly more straightforward for the business and receiver. Check out the IRS direction in the link and message me if you have questions.
#subcontractors #taxes #knowyournumbers
Changes to Meals and Entertainment
If you are paying for meals for business purposes make sure that they are paid for and billed separately. I have included the link to the new regulations (it’s 56 pages yikes). Meals still deductible at 50% but entertainment deductions have been cut. Check with your tax preparer if you need additional guidance. Message me if I can help.
#taxes #knowyournumbers #regulations
Go Vote
This link isn’t to influence you, it is from the government with access to information on what races you will be voting on and the candidates. Also, on here are links to sample ballots for you to look over before the big day. The most important thing we can all do is some research. Find out what and who you are voting for and see which candidate fits your beliefs.
#vote2020 #knowbeforeyougo
Looking Good on Zoom
We are conducting more business meetings, proposals and activities online than ever before. Veterans and rookies alike sometimes need to dress up their presence on Zoom. Below is a very good article to help you put your best foot forward for your clients or peers.
#zoommeetings #onlinepresence #themoreyouknow
Separate Bank Account for Your Business
You should have a separate bank account for your business. Whether working from your garage on the weekends or running multiple sites you need to have a separate account for your personal expenses. It can be very difficult to separate personal and business transactions and the co-mingling of funds creates unwarranted confusion.
#banking #knowyournumbers #bookkeeping
https://silvertaxgroup.com/separate-accounts-business-personal/