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Form 1099-NEC has been reintroduced by the IRS (Internal Revenue Service) as the new way to report self-employment income in place of Form 1099-MISC which has been used traditionally.
Besides offering financial relief to individuals & loans to businesses struggling during the Covid-19 disaster, the CARES (Coronavirus Aid, Relief, and Economic Security) Act changes several tax perquisites to improve liquidity for organizations that are enduring a large decline in cash flow.
If you run a business & you have debt, rest assured that you aren’t alone. In a study, 36% of small business owners stated they were not comfortable with how much debt their organization carried. 49% stated they find it really hard to tackle their present debt.
Small business owners are no strangers to multitasking responsibilities. Learn more about how a bookkeeper can help you manage your business responsibilities.
Which tax credits can your business claim? Help your bottom line by finding out which tax credits your business is eligible for this season. Learn more here.