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Should I Worry About 1099's

Should I Worry About 1099’s?

By Blog, Business, IRS, Payroll, Tax Strategy, Taxes No Comments

Should I Worry About 1099s? No…and yes. If you’re a freelancer, gig worker, or independent contractor, you’re probably familiar with the infamous 1099 form. But if you’re new to the game, you might be wondering: Should I Worry About 1099s? First of all, what is a 1099? It’s a tax form that’s used to report income that’s not earned as an employee. If you’re a…

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Small Business Taxes for Beginners

Small Business Taxes for Beginners

By Business, IRS, Tax Strategy, Taxes No Comments

Small Business Taxes for Beginners As a small business owner, you’ve got loads of priorities, fires, and problems… I know, because I’ve been there, walking in your shoes… There is a never-ending list of tasks and responsibilities that all fall on your desk. “The buck stops with you.” as they say (I think that’s what they say!).  All of these fires are really getting in…

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What triggers an irs audit

What triggers an IRS audit?

By IRS, Tax Strategy, Taxes No Comments

 What triggers an IRS audit? If you decide to file your own tax returns, what triggers an IRS audit? We’ve covered a couple videos recently about red flags and what to be aware of so you won’t be audited. We will link that video in the description of this video. I’m going to go over a couple more red flags today. Filing a Schedule C…

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Bookkeeping Red Flags

Bookkeeping Red Flags

By Accounting, Blog, Bookkeeping, Business, Cash Management, IRS, Profit First, Tax Strategy, Taxes No Comments

 Bookkeeping Red Flags | John Briggs – Incite Tax   What are some bookkeeping red flags to watch out for? The first red flag is you want to run a profit and loss statement by month. When you’re looking at the statement, it’ll show January, February, March, April, however many months you’re looking at in separate columns. You wanna notice trends, mainly inconsistent trends. If…

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Top 13 IRS Red Flags

By IRS, Tax Strategy No Comments

Triggering an audit is one of the biggest fears of small business owners when it comes to taxes. You’re probably even willing to overpay if it means avoiding any IRS red flags. Generally, when we think of red flags, we are thinking of an audit. It might surprise you to know that we are audited by the IRS more often than we realize. I think…

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