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1099s – “What’s in a name?”

1099 - What's in a Name?

There’s been an increased scrutiny of 1099s by most tax and labor agencies (and insurance companies BTW) in recent years.  This is happening at federal and state levels.  A recurring theme is the agency will want to recharacterize time billed … Read more »

The Unwritten Fallout of Embezzlement

The Unwritten Fallout of Embezzlement

There are many articles on the internet about small and medium sized business embezzlement cases and suggestions on how to avoid it. There are perhaps couple of unwritten, chapters to the fallout of embezzlement that are worth knowing. Personnel / … Read more »

Is Construction “Production”? Yes!

Domestic Production Activities Tax Deduction

You’re a builder, so why would you get the Domestic Production Activities Tax Deduction? Because you produce something (it’s not just for manufacturers).  What is it? The deduction is 9% of net income from qualified “production” activities (not just traditional … Read more »

Hiring Temporary or Part-time Workers as Contractors

Hiring Temporary or Part-time Workers as Contractors

It’s tempting to hire staff as contractors; skipping costs for insurance, payroll taxes and administrative time.  It’s particularly tempting in bringing someone on-board on a trial basis or for part-timers. The IRS has 20 factors to consider to determine if … Read more »

I saw it on the internet…

QuickBooks Intuit Error

“It was on a reliable business site on the internet.  Should be correct, right?” Here’s an interesting one I found while looking for a Self Employment (SE) Tax calculation for a client’s use. Quick refresh, SE Tax has 2 components … Read more »