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…
Raise your hand if you received a PPP loan last year. Quite a few of you likely took advantage of that opportunity. If that loan happened to be enough to cover all your employee wages for last year, then well done. I hope that has given you a great head start on growing your business this year. For some of you it…
How will you ever choose, 1099 or W2? The IRS created a 20-point checklist that a business owner can use to determine if the new hire is an employee or a contractor. Just because one says he’s an employee or one says she’s a contractor doesn’t make the determination. The whole list has to be considered. Please also note that if you want the new…
By guest blogger: Steven Chen 1. Identify hiring problems. Discover what parts of your organization are having problems and why. You can do this by: Asking your HR and department heads for their opinions. ‘Why are people quitting? Why have they become problematic? Why are they being fired?’ Making sure each department and/or HR carries out exit interviews. Ask people who leave why they are leaving, and…
The IRS created a 20-point checklist that a business owner can use to determine if the new hire is an employee or a contractor. Just because one says he’s an employee or one says she’s a contractor doesn’t make the determination. The whole list has to be considered. Please also note that if you want the new hire to be a contractor, this list can…
Uncle Sam Grinch can be green with greed often. The “statutory employee” is certainly one of those areas. What is a statutory employee? IRS defines them as independent contractors that may be treated as employees for employment tax purposes. Oh blessed charitable spirit of the IRS! The taxpayer may be treated as employees for the 15.3 payroll tax. It should read have to be treated…
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
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