Did 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
Author:
Rachel Blakely-Gray
As Patriot's Content Manager, Rachel creates engaging and informative content aimed to help business owners understand complex accounting and payroll topics.
Can You Cancel Payroll After You’ve Run It?
You ran payroll … and realized you made a mistake. Great. If you catch the mistake quickly enough, you may be able to void or cancel payroll. But, there are several factors at play.
Read More Can You Cancel Payroll After You’ve Run It?
Bragging Rights: Patriot Payroll® Crowned “Best for Tax Filing” by U.S. News & World Report
U.S. News & World Report’s 2025 “Best Payroll Software” lists Patriot Payroll as “Best for Tax Filing,” thanks to Patriot’s tax-related functions and tax filing guarantee.
Read More Bragging Rights: Patriot Payroll® Crowned “Best for Tax Filing” by U.S. News & World Report
Employer Student Loan Repayment: Up to $5,250 Tax-free Through December 31, 2025
If you’re looking for a new benefit to offer employees, you might consider employer student loan repayment. The benefit itself isn’t new, but it got a tax-exemption makeover in 2020 thanks to the CARES Act and Consolidated Appropriations Act.
Read More Employer Student Loan Repayment: Up to $5,250 Tax-free Through December 31, 2025
BOI Reporting No Longer Required for Businesses Created in U.S.
BIG NEWS: On March 21, 2025, FinCEN announced that all domestic reporting companies, businesses created in the United States, are exempt from the requirement to report beneficial ownership information (BOI) to FinCEN.
Read More BOI Reporting No Longer Required for Businesses Created in U.S.
How to Calculate Weighted Average (and Why It Matters in Business)
From inventory valuation to sales forecasting, there are plenty of times you may need to calculate a weighted average in your business. And you don’t have to be a mathematician to find it. Learning how to calculate weighted average is a relatively easy process.
Read More How to Calculate Weighted Average (and Why It Matters in Business)
1095-C Form Obligations: Do Employers Have to File Form 1095-C?
Do employers have to offer health insurance? Sometimes. And if you are required to offer health insurance, you need to send a 1095-C form to all full-time employees.
Read More 1095-C Form Obligations: Do Employers Have to File Form 1095-C?
How to Calculate Sales Tax to Meet Your Small Business Requirements
For many businesses, collecting sales tax is a mandatory part of selling goods and providing services. After collecting sales tax from customers, you are responsible for remitting the tax to your state or local government. But before you start collecting, you need to know how to calculate sales tax.
Read More How to Calculate Sales Tax to Meet Your Small Business Requirements
How Do I File a 1099 for My Independent Contractors?
If you hire an independent contractor and pay them $600 or more during the tax year, you must create, distribute, and file Form-1099-NEC. You might wonder, How do I file a 1099?
Read More How Do I File a 1099 for My Independent Contractors?
Form 1096: What it Is, Filing Instructions, and More
Sometimes, you need to hire workers who aren’t employees to complete certain tasks at your business. When you hire contractors or vendors, you must prepare Forms 1099-NEC or 1099-MISC so they can accurately file their personal tax returns. You also need to submit Form 1096 with the Forms 1099 you send to the IRS.
Read More Form 1096: What it Is, Filing Instructions, and More