1099 Filing Requirements
WHEN ARE 1099S REQUIRED? A Form 1099-MISC is used to report payments for services provided to your business by unincorporated vendors when those payments total $600 or more for the year. The IRS has established four conditions for payments that must be reported using Form 1099-MISC. You must file a 1099 if the following four […]
Small Business Tax Briefs- September Edition
MATERIAL PARTICIPATION KEY TO DEDUCTING LLC AND LLP LOSSES If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well as tax advantages. But they once also had a significant tax disadvantage: The IRS used to treat all LLC […]
