Small Business Tax and Accounting

/Small Business Tax and Accounting

Sole Proprietors and PPP Loan Forgiveness: Beware

By | April 24th, 2020|Categories: Small Business Tax and Accounting|

Last week I wrote about how loan forgiveness for the solo sole proprietor will work. I had to strike through a lot of my thoughts as new information came in. So now, a week later, what do we know? The Typical Solo Sole Prop Will Probably Have Some Loan Remaining PPP loans are forgivable if the [...]

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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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