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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

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

8 Cash Flow Management Tips for Small Business Owners

Cash flow is an integral part of any successful business strategy. Attempting to run a business without a good cash flow strategy is like trying to sail a ship across the sea without a rudder. You might make it a decent distance into the deep, but eventually you will crash or sink. Even if you […]

#accounting for business owners#cash flow managment#tips for business owners

Written by prositesfinancialApr 24 • 5 minute read

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