When hiring, it is important to determine whether a person should be classified as an employee or as an independent contractor. Failing to classify an employee or independent contractor correctly can have serious tax consequences for your business or organization.But… Read More »Employee or Independent Contractor
In 2020, businesses began using a new 1099 form to report income for independent contractors and any other person that your business or organization paid $600 or more during the tax year. The 1099-NEC (Non-Employee Compensation) will now be used… Read More »The 1099-NEC
Every business type has its own advantages and disadvantages. Finding the one that is right for your business depends on your goals, who is involved, and your willingness to take on risk. Below is an overview of four of the most common types of business… Read More »Choosing Your Business Structure