Commingling of your money puts you in danger
It’s easy to think you are your business. Who else is doing the work, right? However, that thinking is NOT accurate. In fact, your business is a separate entity from you, the individual. Your business has a Federal EIN number as its identification and you have a social security number for your identification. Moreover, for tax […]
Fundamentals To Being Better Organized for Tax Season
Tax deadlines feel ominous. In looking back, do you wish you had setup better systems for your receipts last year so your tax paperwork would be less complicated? Does it feel like SO MUCH WORK to get paperwork together? Whether you are planning to file your own tax documents or not, you must have a way to gather […]
Super easy ways to keep your 1099 paperwork organized
As your business grows, it’s common practice to hire part time vendors to assist you. It could be for simple reasons like needing an extra pair of hands in the office or a more specific job like illustrations and creative marketing. Regardless of the job, if you are paying a non-employee more than $600 in […]
Monopoly Money
In 1935, Americans were mired in the depths of the Great Depression. Gross domestic product had shrunk from $103.6 billion in 1929 to $73.3 billion. Unemployment stood at a horrendous 20.1%. Even the suicide rate was higher during those dark years. And on February 6th of that year, the Parker Brothers company started selling an […]
Celebrating the Law of Giving and Receiving
The Christmas holiday season is a wonderful time. It conjures up childhood memories of putting up the Christmas tree and the anticipation of Santa’s arrival. There’s familiar smells of gingerbread cookies, eggnog, cinnamon and pine. Moreover, we celebrate the love of our families, steadfast friends and the luxury of good fortune. The Rotary Club of […]
IRS Due Dates for W2 and 1099
Did you know that you need to send a 1099 to your independent contractors by year end? An independent contractor who earns over $600 in the calendar year is due one. Now, however, this requirement comes with tight deadlines and costly penalties. Due dates for W2 and 1099 By January 31 each year, you will need to […]
Avoid these 1099 mistakes before year end
January of every new year comes with 1099 mistakes which many small business owners forget about. As our customer, we don’t want you to be caught off-guard. What To Know About W2s and 1099s? You must send your W2s and 1099s to any non-employee or independent contractor that earns more than $600 in any calendar year. By […]
Are you sure you have an independent contractor by IRS standards?
An independent contractor is a small business owner’s favorite friend. They are source of temporary employment that can carry you through a busy season. By using an independent contractor, you can avoid the hassle of paperwork that comes with hiring. Also, a contractor can save you thousands of dollars in federal employment taxes without the necessary […]
VCSP to the rescue for your misclassified workers
Let’s assume your business is growing. Over the two years, you hired a few extra people to sustain you during the busy seasons. However, the busy seasons never really ended and those few extra people have become a necessary part of your business operation. When you hired them thinking it would be a temporary solution, […]
Will It Blend?
If you’ve spent any time on the internet, you know it’s a vast rabbit hole of places to waste precious minutes of your life.“Will it Blend?” is one of those places, a video series showing off the Blendtec line of blenders. The videos feature the company’s founder, smiling in a white lab coat and safety […]