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Filing 1099 Forms for Your Independent Contractors

The IRS form 1099-MISC, commonly abbreviated to just 1099, is a form that summarizes annual income from non-employee compensation for a tax filer. This form is what the IRS uses to calculate taxes on all the income independent contractors generate. If you paid more than $600 over the tax year to an independent contractor or […]

#1099 Forms#business accounting#Independent contractors

Written by prositesfinancialMay 21 • 4 minute read

Considering Life Insurance? Here are 9 Key Factors to Check

Buying a life insurance policy is a very big deal. It’s perhaps one of the biggest financial decisions you’ll make in your lifetime. It is important to do some research to make sure you have the right policy to cover the expenses you need. Weeding through the jargon and complex fine print of the insurance […]

#life insurance#personal finance

Written by prositesfinancialMay 20 • 4 minute read

Ten Tips for Small Businesses to Help Prevent an IRS Tax Audit

Each year, well over a million taxpayers will typically be selected by the IRS for audit. No one wants to get that dreaded notice in the mail, so let’s look at ten tips that could help you avoid ending up on their annual tax audit list. 1. Know When to File This may be counter-intuitive, […]

#audits#business accounting#tax preparation

Written by prositesfinancialMay 13 • 4 minute read

Can Millennials Count on Receiving Social Security Benefits?

While our grandparents’ generation counted on social security almost without question, times have changed, and most millennials now have their doubts. If you are a Millennial and are concerned that social security benefits may not be there waiting for you when you retire, you are not alone: according to a 2017 Annual Transamerica Retirement Survey, […]

#retirement planning

Written by prositesfinancialMay 7 • 3 minute read

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