How 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.
Read More How to Fill Out a 1099-MISC Form: 1099-MISC Instructions [The Ultimate Guide]Accounting Reports Articles
Accounting Reports - Tips, Training, and News
How Is Machine Learning Used in Accounting?
Machine learning (ML), a branch of artificial intelligence (AI), is everywhere. It has transformed online shopping (“users also bought…”) and TV streaming (“because you watched…”). Machine learning has also revolutionized the field of accounting.
Read More How Is Machine Learning Used in Accounting?
“SOS! Do I Need to Prepare a 1099 for Credit Card Payments I Make to Contractors?”
Paying a contractor to perform work for your business comes with a little disclaimer: reporting said payments on Form 1099-NEC. But what if you pay your contractor using a credit card? Do you have to prepare a 1099 for credit card payments?
Read More “SOS! Do I Need to Prepare a 1099 for Credit Card Payments I Make to Contractors?”
What Is Form 1099-MISC, and Are You Responsible for Distributing It?
If you paid a person that is not an independent contractor during the tax year, you might need to file Form 1099-MISC. So, what is Form 1099-MISC?
Read More What Is Form 1099-MISC, and Are You Responsible for Distributing It?
IRIS 1099: What to Know About the Information Returns Intake System
Do you need to file Form 1099-NEC, Nonemployee Compensation, Form 1099-MISC, Miscellaneous Information, or another 1099 type? You can use the IRS’s Information Returns Intake System (IRIS) to e-file 1099s.
Read More IRIS 1099: What to Know About the Information Returns Intake System
The Ins and Outs of E-Filing 1099s With the IRS
When you own a business, you may need to hire an extra helping hand, like a vendor or contractor, to get a job done. And when you pay an independent contractor or vendor, you may be responsible (depending on how much you paid them during the year) for distributing and filing either Form 1099-NEC or […]
Read More The Ins and Outs of E-Filing 1099s With the IRS
Check Your Financial Records With a Trial Balance
Are you an accounting wizard? Maybe, maybe not. Regardless, your math needs to add up. And sometimes, even the greatest mathematicians make mistakes. If you make an accounting error, you must find it—before it harms your business. That’s where a trial balance comes in.
Read More Check Your Financial Records With a Trial Balance
How to Fill Out Form 1120: A Guide for Corporations
Structuring your business as a corporation comes with benefits like limited liability and increased access to capital. It also comes with its own unique small business tax return—Form 1120. Do you know how to fill out Form 1120?
Read More How to Fill Out Form 1120: A Guide for Corporations
What Is Quick Ratio? Learn How to Swiftly Calculate This Metric
Does your business have enough liquid assets to cover short-term liabilities in a pinch? To find out, you can use the quick ratio. Keep reading to learn the quick ratio definition, how to calculate your ratio, and more.
Read More What Is Quick Ratio? Learn How to Swiftly Calculate This Metric
How to Use a Comparative Income Statement for Your Small Business
You’re an expert at running your business, not analyzing financial numbers. But as a small business owner, you need to know how your decisions affect your company. By reviewing your accounting books, you can leverage data to grow your company. One important report to look at is the comparative income statement.
Read More How to Use a Comparative Income Statement for Your Small Business