If you’re an employer, you can’t just be on your merry way after paying your employees. You also need to account for payroll expenses in your books. This is where payroll accounting comes into play. To ensure your accounting books are accurate, learn how to record payroll transactions.
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Accounting Tips, Training, and News
What Is the Penalty for Late Tax Return?
August 27, 2026Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties.
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IRS Cash App Reporting Rules: What to Know
August 27, 2026Over 75% of consumers use payment service apps. And if you’re part of the growing percentage of small businesses (23% in 2019, to be exact) that accept peer-to-peer (P2P) payments, you should know about the IRS cash app reporting rules—and how they’ve changed over the past few years.
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1099 Reporting Threshold Increases from $600 to $2,000 for Tax Year 2026 Under OBBBA
August 27, 2026Beginning with tax year 2026, the One Big Beautiful Bill Act (OBBBA) raises the 1099 reporting threshold to $2,000 and adjusts it for inflation each year going forward.
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Optimize Your Small Business With Effective Year-end Tax Planning Strategies
August 27, 2026The end of the year is a busy, if not the busiest, time of year for small business owners. You’re gearing up for the start of a new year and trying to wrap things up before the year comes to a close. One thing that should be on your mind during this time of year, […]
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Your Crash Course on the Different Types of 1099 Forms
August 27, 2026You’re probably familiar with Forms 1099-MISC and 1099-NEC. But, how much do you know about the other types of 1099 forms?
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How to Fill Out a 1099-MISC Form: 1099-MISC Instructions [The Ultimate Guide]
August 27, 2026How do you fill out the most recent version of the 1099-MISC form? Learn how to fill out Form 1099-MISC and where to send completed forms.
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How to Fill Out a 1099-NEC: Your Complete Guide
August 27, 2026Did you make payments to independent contractors during the year? If so, you must use Form 1099-NEC. For accurate reporting of contractor payments, learn how to fill out a 1099-NEC.
Read More How to Fill Out a 1099-NEC: Your Complete Guide
Minority Business Enterprise and MBE Certificate: Your Guide
August 20, 2026Although you may have a minority-owned business, you must meet specific criteria for formal recognition as a minority business enterprise (MBE). And if you meet the criteria, there are business benefits to receiving an MBE certificate.
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How to Issue a Corrected 1099 (MISC and NEC)
August 20, 2026Do you file Forms 1099-MISC or 1099-NEC? If so, you might mix up the forms, enter incorrect information, or use a form from the wrong tax year. If you make a mistake on either form, you may need to issue a corrected 1099.
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