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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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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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.
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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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A Profit and Loss Statement for Small Business Is a Must!
August 19, 2026As a business owner, you must track the money going in and out of your company to keep your finances on track. One way you can do this is by monitoring your profit and loss statement for small business. Read on to learn how a profit and loss statement can benefit your business and how […]
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Miscellaneous “Income” Is Now Miscellaneous “Information.” So, What Is It?
August 19, 2026In business, it seems like you dole out money for anything and everything. Employee wages and inventory purchases are just some of the payments you might make. Sometimes, you may make payments that fall under the IRS’s miscellaneous category. And if you do, you must report them as miscellaneous information (formerly miscellaneous income). So, what […]
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What Is an Income Statement?
August 18, 2026Quick: Off the top of your head, how much money is your business bringing in? How much are you spending? At some point, investors, lenders, and (cough) you will need to know. But don’t panic when someone asks about your company’s revenue and expenses. Just whip out your income statement. What is an income statement, […]
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