2023 Year-End Reminders and Tax Filing Deadlines

…for non-employee compensation are reported on Form 1099-NEC in Box 1. Provide Form 1099-NEC to unincorporated independent contractors to whom you have paid $600 or more for services used in…

Proposed Bill Provides Tax Relief for Businesses

…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…

GAAP Accounting Concerns for Contractors

…shared by other industries. Proper accounting in accordance with general accepted accounting principles (GAAP), is not only an effective way of managing your business, but also ensuring your contractor financial…

New IRS Guidance on 45L Energy Efficient Home Credit

…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…