2024 Year-End Reminders and Tax Filing Deadlines
…NEC in Box 1. Form 1099-NEC is due to recipients and the IRS on January 31, 2025: Provide Form 1099-NEC to unincorporated independent contractors to whom you have paid $600…
…NEC in Box 1. Form 1099-NEC is due to recipients and the IRS on January 31, 2025: Provide Form 1099-NEC to unincorporated independent contractors to whom you have paid $600…
…is due to recipients and the IRS on February 1, 2021 (since January 31 falls on a Sunday): Provide Form 1099-NEC to unincorporated independent contractors to whom you have paid…
…broker for a copy of the purchase agreement. The agreement should detail what property was acquired. For a newly constructed building, contact the contractor or local planning commission for building…
…independent contractor within one year before or after the date of the investment. Virginia as specified the definition of equity and subordinated debt instruments that qualify for the credit. Equity…
…need to file a Form 1099-NEC or 1099-MISC by businesses paying for services performed by an independent contractor or other similar payments from $600 to $1,000 for payments made after…
Is your construction company eligible for a small business taxpayer exception? Construction contractors should review their method of accounting to determine if a small business taxpayer exception may apply which…
…qualified business in exchange for services provided to the business as an employee, officer, director, manager, or independent contractor within one year before or after the date of the investment….
…an effective way of managing your business but also ensuring your contractor financial statements are comparable within the industry and support an unmodified auditor’s opinion. Contractors should be aware of…
…credit, how to determine the applicable amount of the credit, and requirements. Contractor eligibility Eligible contractors must construct or substantially reconstruct and rehabilitate a qualified new energy efficient home located…
…are reported on Form 1099-NEC in Box 1. Form 1099-NEC is due to recipients and the IRS on January 31, 2023: Provide Form 1099-NEC to unincorporated independent contractors to whom…
The CARES Act correction to Qualified Improvement Property: Considerations for commercial real estate holders With the passage of the CARES Act, a major drafting error of the Tax Cuts and…
…government. Digital assets also experience significant market volatility, with unpredictable and substantial market value swings of individual assets. These considerations preclude them from being considered cash or cash equivalents. In…