Small Business Tax and Accounting

/Small Business Tax and Accounting

Do I Have to Issue 1099s for “Business to Business Transactions”?

By | October 17th, 2019|Categories: Small Business Tax and Accounting|Tags: , |

(NOTE: I have been terrible about writing posts this year; I am finally back at a point of being able to blog again, so you'll see posts more often from me. And if this post is any indication, I have my flair back that so many people liked, of writing with humor and going on long [...]

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How to Fill Out Form W-9 (Most 1-Person LLCs Are Probably Doing it Wrong!)

By | August 7th, 2019|Categories: Small Business Tax and Accounting|Tags: |

This post is part of a larger presentation I give on the topic of Form 1099-MISC and related topics. Form W-9 is one of those "related topics." Form W-9 comes into play when a business pays a contractor. It helps the paying business: Know if it needs to issue a 1099-MISC to the contractor, andGathers the [...]

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Rental Owners, 1099s, And the New QBI Guidance

By | January 18th, 2019|Categories: Small Business Tax and Accounting|Tags: |

The IRS released a revenue procedure today (Friday) that clarifies the treatment of rental properties and the “qualified business income” deduction. The revenue procedure provides a safe harbor where rental activity can be presumed to be a “trade or business” for QBI purposes. This ties back into the 6-part series I posted a month ago about [...]

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Good Expenses Versus Bad Expenses

By | December 19th, 2018|Categories: Small Business Tax and Accounting|Tags: , , |

Just because money is going out the door, doesn't mean it's necessarily a bad thing.

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Do Landlords Need to Issue 1099s? An In-Depth Look, Part 3

By | December 18th, 2018|Categories: Small Business Tax and Accounting|Tags: |

This is part 3 in our in-depth look at whether owners of rental properties need to issue 1099s. In part 2, we closed with an opinion given by numerous CPAs, that "only" real estate professionals need to issue 1099s for their rental activity. Let's look at where they get this from. First of all, there was [...]

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