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 [...]

By |2020-07-13T14:13:41-04:00July 13th, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Businesses: Get Ready For the New Form 1099-NEC

Deducting Business Meal Expenses Under Today’s Tax Rules

In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed under the [...]

By |2019-10-18T17:01:09-04:00April 15th, 2019|Categories: Blog, Tax|Tags: , , |Comments Off on Deducting Business Meal Expenses Under Today’s Tax Rules